Innovation is the key for the success of the Biotech industry. Hence, the innovation strategy of a biotech company must evolve constantly if it wants to remain competitive in the local and international market. Necessity is the mother of innovation, and so the successful biotech companies are always focused on their innovation initiatives in order to bring new products in the market for the benefit of people. For this reason, the scientists and entrepreneurs working in this industry are imaginative, revolutionary, inventive, and ingenious, as well as industrious.
Here is the list of top 10 most innovative biotech companies ranked by Fast Company:
Medtonic is a medical device company headquartered in Dublin, Ireland. The company got FDA approval on September 2016 for its novel diabetes management system called the MiniMed 670G. It consists of a pump and glucose monitor connected wirelessly for treating patients with type 1 diabetes. The company also launched an app in 2016 for helping users understand the way they need to react to certain foods based on their sugar levels.
This New York-based biotechnology company has recently developed a fertility-prediction software to help the 7 million women in America struggling to conceive. The company uses genomics and big data analytics for improving fertility treatments.
- Johnson & Johnson
The company established incubator/accelerator to six locations across two countries in 2016. It is currently housing 130 medical startups with the available space of 180,000 square feet. These companies are dedicated in pharmaceutical and biotech innovations.
This biotechnology and genomics company is headquartered in Mountain View, California. In 2016, the company helped 120,000 people searching for their personal history in their DNA. The company is closely working with U.S. FDA to share ancestral and genetic-derived health reports to consumers directly.
The company established new research and development facilities in China and Brazil in 2016, adding to our more than 40 existing sites cross 20 countries. The company introduced a glucose monitoring device that eliminates the need for routine finger sticks; a heart stent that dissolves after it’s done its job of clearing a blocked artery; and an infant formula that is closer to breast milk than ever before.
Color Genomics, a health startup headquartered in California, has made it possible to get a genetic test in an easy and cost-effective manner. The company added tests for eight different types of cancer in 2016, and is also analyzing 30 genes.
This is the largest personalized health network in the world, with more than 500,000 members. In 2016, it partnered with Duke’s ALS (amyotrophic lateral sclerosis) clinic for evaluating the possibility of using the soy peptide Lunasin in order to reverse the symptoms in patients with ALS. The company also collaborated with pharmacy giant Walgreens to include patient reviews on its website for thousands of medications, thus patients can learn from each other.
- Parker Institute for Cancer Immunotherapy
This San Francisco, California-based company was established in April, 2016. Within a short period of time, the company has successfully upending the way cancer research is conducted and funded through its innovative new model. The leading cancer centers of the nation, like Stanford Medicine, the University of California, Memorial Sloan Kettering Cancer Center, etc. have formed the core of this institute.
- Braeburn Pharmaceuticals
This pharmaceutical company is headquartered in New York, U.S. The Probuphine® of Braeburn received FDA approval in May 2016 and became the first buprenorphine implant for the long-term maintenance treatment of opioid addiction.
The initial products of this San Diego-based company enabled researchers to explore DNA at an entirely new scale. This may help them create the first map of gene variations associated with disease, health, and drug response. The innovative sequencing and array technologies of the company are fueling groundbreaking advancements in molecular diagnostics, life science research, and consumer genomics.
The Most Innovative Companies of 2017 by Sector – Fast Company