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The benefits of going big: Why small biotechs need large CRO partners

Attaining biotech potential with strategic CRO partnership

Drug development is inherently risky. For biotech companies operating with limited resources and tight budgets, the risks – and the stakes – are even higher. Small biotechs that lack the internal infrastructure and the financial cushion to absorb setbacks are especially vulnerable to the risk of failure or delays at any stage. This is where the expertise of a large CRO becomes invaluable.

Partnering with a large, full-service CRO in an end-to-end capacity can provide seamlessly integrated support in both drug development and strategy, minimising risk while maximising ROI to make the most of biotech cash runways. Beyond the technical operational advantages, large CROs can also provide business support and vital network connections, helping biotechs bolster their executive capabilities.

Optimised strategy and operations

De-risking complex programs: For small biotech companies that are resource-constrained, outsourcing to a full-service CRO allows them to spread the risks and leverage the operational excellence of an experienced partner. As clinical trials become larger, more expensive and more complex, the greater breadth of capabilities and depth of expertise offered by a large CRO maximises the probability of success for biotech when the margin for error is small.

Strategic insight: The best risk mitigation is a clear, comprehensive strategy that allows biotech to “go big early” and progress through key milestones faster. CROs can assist with strategy development to set biotech programs up for success, leveraging insights gained from experience in clinical development across different therapeutic areas and modalities. By identifying potential roadblocks early in the process, CROs can help biotech companies prepare for and mitigate risks, ensuring smoother clinical trials, faster regulatory approvals and optimal commercial positioning. For a small biotech, these proactive measures can mean the difference between success and failure.

Continuity and vendor consolidation: With the CRO as a single point of accountability, multiple services can be managed through one partnership, scaling to fit specific needs and providing continuity throughout development. End-to-end support reduces the risk of operational delays or miscommunications and means biotech don’t have to juggle separate scopes under fragmented, ad hoc outsourcing strategies. Early engagement with a holistic partner streamlines delivery, mitigates risks and maximises resource efficiency—critical factors for smaller biotechs operating under financial constraints.

Intelligent solutions

Advanced technology infrastructure: Efficiency is key when operating on limited budgets. Full-service CROs offer cutting-edge technology solutions, data management systems, and operational infrastructure that smaller companies may not have in-house. By partnering with a CRO that has invested in a comprehensive ecosystem of digital solutions, small biotechs can tap into the benefits of these tools without having to invest their limited funds into their own infrastructure. This includes tools for clinical trial management, real-time data analytics, and patient recruitment technologies, which can enhance the efficiency and quality of trials.
Specialised expertise: Multidisciplinary and specialised expertise at your fingertips, including regulatory, clinical, operational and therapeutic experts. This cross-functional approach provides deeper insight and helps align different aspects of the project for clearer strategy, smoother execution and fewer bottlenecks. For example, biotech working with ICON have access to key teams like:

Partnership as a resource

Broader ecosystem connectivity: Large CROs often have relationships with regulators, patient advocacy groups, key opinion leaders (KOLs) and academic institutions. Strategic collaboration with these CROs affords access to these networks, which can accelerate patient recruitment, strengthen regulatory submissions and enhance clinical trial designs. 

Access to partnership networks: CROs with large networks can help small biotechs identify other potential partners (e.g., investors, large pharmaceutical companies) or licensing opportunities, potentially speeding up commercialisation or expanding development opportunities. At ICON, our experience with biotech development and large pharmaceutical companies, coupled with our strong network of investment banks and venture capital firms, also provides unique insight into how to build value into biotech asset development. 

Above and beyond with dedicated biotech development

ICON has established a team of more than 8,000 passionate personnel dedicated to biotech. With ICON Biotech your wins are our wins, which is why we go above and beyond to fulfil the unique needs of small and emerging biotech partners, whether that includes assistance with fundraising, strategic planning and go-to-market strategies, or bolstering executive capabilities to help position your company for long-term success.

  • Instrumental in securing millions of dollars in grant funding for our biotech partners

  • Identified C-suite and specialist personnel to fill critical biotech company roles

  • Identified best vendors for studies then developed and reviewed reports

  • Recently led multiple Scientific Advice meetings on behalf of biotech partners

Unlocking biotech potential through strategic CRO partnerships

For small biotech companies, partnering with a large, full-service CRO isn’t just about outsourcing drug development tasks — it’s about building a strategic relationship to optimise their program within their funding constraints. By providing both operational and business support, the right CRO partner can be the catalyst for a biotech’s growth, enabling them to deliver on the promise of their science and bring innovative therapies to market faster, safer and more efficiently.

Visit us in Stockholm, Sweden at the 2024 BIO-Europe conference 4-6 November or connect with us to learn about the benefits of having ICON as your trusted biotech asset development partner, supporting you from molecule to medicine. 

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