Question

Gerusa is a company of former Soviet scientists who have developed a method of killing cancer cells with light in a process called Photodynamic Therapy (PDT). While the scientists have the medical knowledge, they are short on equipment, money, and marketing know-how. As a consultant what would you advise Gerusa to do? ?

Answer 1

As an external consultant to Gerusa, below is what can be done to help the scientists develop the method of killing cancer cells -

1. Conducting talks with the other major pharmaceutical companies in Soviet or in other countries to create a strategic alliance where the firm funds the research and development of PDT while ensuring the patent is still owned by Gerusa.

2. Attracting investments from individual and institutional investors by offering company's shares to the investors.

3. Employing a marketing strategy to create awareness of the development work being undertaken among the public and the other firms.

4. Understanding the requirement of the equipment used to develop the method and finding the availability of equipment from other firms.