Science Exchange Partners with Lab Launch to Help its Startups Advance Scientific Innovations

January 10, 2018 | Posted by Team in Press Release |

Lab Launch Science Exchange Enterprise Outsourcing PlatformPalo Alto, CA – January 10, 2018 — Science Exchange, the world’s leading and most secure enterprise platform for outsourced research and development (R&D), teamed up today with Lab Launch, a nonprofit working to provide affordable and high-quality laboratories to biotech startups. This partnership with Science Exchange allows Lab Launch’s resident companies to easily supplement and complement their in-house resources with external research tools, technologies, and expertise.

Science Exchange enables immediate access to over 2,500+ commercial CROs, academic labs, and government facilities under a single marketplace agreement, in addition to a 24/7 PhD-level support by Science Exchange staff scientists.

“Our goal is to give LA-based scientists and entrepreneurs every opportunity to further their ideas and innovations in a way that is affordable and that will also give them access to the best scientific resources available,” said Marie Rippen, CEO of Lab Launch.  “By partnering with Science Exchange, Lab Launch can now offer our companies access to fully vetted service providers in a secure environment, so our scientists can devote time to advancing their ideas instead of being bogged down with administrative tasks including researching and negotiating with service providers.”

“Lab Launch and Science Exchange are both driven to give scientists the tools and support they need to be successful in developing their breakthrough ideas,” said Elizabeth Iorns, Ph.D., co-founder and CEO of Science Exchange. “Scientists at Lab Launch will now automatically gain access to the best scientific providers to help bring groundbreaking discoveries to market. We are excited to be part of the process!”

Lab Launch is the latest R&D organization to choose to partner with Science Exchange and joins more than 30 enterprise clients and Life Science incubators that are effectively managing their outsourced R&D with Science Exchange-powered marketplaces.

About Lab Launch

Lab Launch Inc is a 501(c)(3) non-profit working to establish a more dynamic biotech startup environment in Los Angeles. Our mission is to enable LA’s scientists and entrepreneurs to develop their ideas in affordable, high-quality lab facilities, with access to services and a supportive innovation community to accelerate their success.

 

Request a demo of Science Exchange’s platform to see how your organization can benefit from increased access to innovation and organizational efficiency.

Science Exchange Survey Reveals Pain Points of Outsourcing R&D

September 18, 2017 | Posted by Team in Company, Outsourcing Best Practices, Press Release |

Contract review, service provider qualification, and security of intellectual property among major concerns for biotech and pharma leaders surveyed at 2017 industry conferences

PALO ALTO, Calif.– More than 100 biotechnology and drug development leaders who responded to surveys conducted during industry conferences earlier this year reported a wide range of barriers to the outsourcing of research and development (R&D) services, including the contracts review process, intellectual property (IP) security concerns, and service provider qualification. The surveys were conducted by Science Exchange, the world’s leading and most secure platform for outsourced research and development (R&D), during the 2017 Biotechnology Innovation Organization (BIO) International Convention and 2017 Drug Industry Association (DIA) Global Annual Meeting.

More than 75 percent of Science Exchange survey respondents ranked the following concerns as barriers (a significant barrier or somewhat of a barrier) to the outsourcing of R&D services:

  • Having contracts reviewed and signed
  • Security of IP;
  • Identifying service providers with required expertise;
  • Qualifying service providers; and
  • Negotiating pricing.

Time management related to R&D outsourcing was also reported as having a significant impact on these R&D leaders, with over 40 percent of those responding to the survey indicating they spent more than 20 hours to onboard each new outsourcing partner, from the request for proposal process, through contracting and start of the project. Finally, further demonstrating the impact of the time spent on administrative tasks related to outsourcing, more than 75 percent of survey respondents reported that the “hassle” of bringing on a new partner has previously led them to choose an existing vendor rather than seek out a more qualified option.

“The results of this survey echo the same concerns we heard from the leading biotech and pharma companies who now rely on Science Exchange to help them efficiently manage their outsourced R&D services,” said Elizabeth Iorns, Ph.D., co-founder and CEO of Science Exchange. “In review of enterprise clients’ experiences, we find that our Science Exchange clients save thousands of work hours each year on procurement, business operations, contracting and legal resources, and administrative tasks related to outsourcing — time that can instead be spent in discovery. It’s gratifying to see that we’re able to fulfill our goal to support the scientific discovery process by removing barriers to innovation for our clients.”

See how your organization could streamline outsourced R&D through Science Exchange — request a demo of our platforms for enterprise clients.

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