Please use this identifier to cite or link to this item: https://doi.org/10.2217/rme.10.66
Title: Advanced Tissue Sciences Inc.: Learning from the past, a case study for regenerative medicine
Authors: Pangarkar, N. 
Pharoah, M.
Nigam, A.
Hutmacher, D.W.
Champ, S.
Keywords: Advanced Tissue Sciences
business model
business strategy
Dermagraft®
investment
regenerative medicine
tissue engineering
Issue Date: 2010
Source: Pangarkar, N., Pharoah, M., Nigam, A., Hutmacher, D.W., Champ, S. (2010). Advanced Tissue Sciences Inc.: Learning from the past, a case study for regenerative medicine. Regenerative Medicine 5 (5) : 823-835. ScholarBank@NUS Repository. https://doi.org/10.2217/rme.10.66
Abstract: On 31st March 2003 Advanced Tissue Sciences (ATS) was liquidated, with the effect that in excess of US$300 million of stakeholder financing was destroyed. Although successful in the development of breakthrough technologies in the regenerative medicine arena and the building of a substantial portfolio of patents, the company never made a profit. In this case study, ATS business strategy, market and competitive environment will be discussed in the context of the companys historical development. A number of important lessons from this case are discussed. From a management perspective the most critical lesson is the importance of effective financial planning and management of costs, and in particular R&D costs, including the significant costs associated with clinical trials. In addition, a clear strategic focus is extremely important due to the significant resources required in the development of a new therapy. From an investors perspective the lessons to be gathered from the ATS case are related to the risk involved in investing in the field of regenerative medicine. This case indicates that both professional and private investors did not fully question the validity of ATS business strategy and financial forecasts. A clear and focused strategy based on long-term investor commitment is essential for the successful commercialization of regenerative medicine. © 2010 Future Medicine Ltd.
Source Title: Regenerative Medicine
URI: http://scholarbank.nus.edu.sg/handle/10635/44779
ISSN: 17460751
DOI: 10.2217/rme.10.66
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