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Adnexus: Strategic and Resource Considerations When Developing Novel Biotechnology Medicines

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biotechnology management case

Susan Sieloff, Tucker Marion, John Friar, and Raymond Kinnunen
College of Business Administration, Northeastern University

Key issues: Adnexus (www.Adnexustx.com) was a small biotechnology company that was acquired by the Bristol-Myers Squibb Company in late 2007. The company uses its proprietary protein engineering technology, PROfusion™, to design and identify drug candidates from a novel class of proteins called Adnectins™. The company’s lead product, CT-322, was in clinical development for the treatment of cancer. CT-322 has made considerable progress in clinical trials while the early-stage Adnectin pipeline has also been growing rapidly. To help prepare for a significant increase in new Adnectin protein therapies entering the clinical phase in a resource constrained environment, Bristol-Myers Squibb requested that Adnexus create an innovative process for more efficient product development. This is certainly not an easy task, as change is often difficult in large, established organizations. Adnexus was being asked to lead this change while simultaneously pioneering two novel technologies and managing a pipeline that was doubling in size each year.

Companies/institutions: Adnexus Therapeutics Inc., Bristol-Myers Squibb Company

Technology: targeted biologics, proteins

Stage of development: early discovery through clinical proof of concept

Indication/therapeutic area: oncology

Geography: US

Keywords: biotechnology, resources, FDA approval process, targeted biologics

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Building the Case for Biotechnology is published by Logos Press