Lynk Biotech: Open innovation project management

The case is set in July 2020, when Lynk Biotech (Lynk), a pharmaceutical research company based in Singapore is facing the dilemma of designing new products from its existing transdermal platform which is a well-researched proven technology developed by the company. Lynk was a university spin-off fo...

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Main Authors: CRAMA, Pascale, BHATTACHARYA, Lipika, LIM, Chon Phung, KULZER SACILOTTO, Cintia
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2022
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Online Access:https://ink.library.smu.edu.sg/cases_coll_all/422
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Institution: Singapore Management University
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spelling sg-smu-ink.cases_coll_all-14202023-11-23T07:37:50Z Lynk Biotech: Open innovation project management CRAMA, Pascale BHATTACHARYA, Lipika LIM, Chon Phung KULZER SACILOTTO, Cintia The case is set in July 2020, when Lynk Biotech (Lynk), a pharmaceutical research company based in Singapore is facing the dilemma of designing new products from its existing transdermal platform which is a well-researched proven technology developed by the company. Lynk was a university spin-off focused on drug research, and had pivoted its business model to come up with over-the-counter topical cream products for the market. The company had followed the research publication route to gain visibility for its technology innovation and the clinical trial route to use its proprietary technology to develop products and bring them to market. All along, the company had relied on Open Innovation methods to build collaboration with local educational institutions to publish its research and help conduct clinical trials. However, the company faced significant challenges in expanding its market outside Singapore, as its products required expensive clinical trials and faced regulatory challenges in most countries. In late 2019, a local research firm with ties to a renowned university in Singapore had approached Lynk to collaborate on using its proprietary technology for a new product that it was designing. While sharing its technology with appropriate licensing measures could be a plausible approach for the company to expand its outreach, were there other avenues that Lynk could explore to expand its business? Was partnering with research organisations the right way forward? Had the clinical trial method been the right way of embarking on its Open Innovation journey? This case will enable students to learn about Open Innovation (OI) practices used in SMEs and the challenges faced by SMEs in conducting research and bringing a product to market using Open Innovation methodologies. The case will also help students understand the various collaboration challenges faced by small enterprises and the constraints that act as a barrier towards monetising innovation in the market for such firms. 2022-05-01T07:00:00Z text https://ink.library.smu.edu.sg/cases_coll_all/422 https://smu.sharepoint.com/:b:/r/sites/admin/CMP/cases/SMU-22-BATCH%20%5BPDF-Pic%5D/SMU-22-0012%20%5BLynk%5D/SMU-22-0012%20%5BLynk%5D.pdf?csf=1&web=1&e=A2R19K Case Collection eng Institutional Knowledge at Singapore Management University Open innovation human-centred innovation growth strategy entrepreneurship collaboration and teams Startups Operations and Supply Chain Management Technology and Innovation
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Open innovation
human-centred innovation
growth strategy
entrepreneurship
collaboration and teams
Startups
Operations and Supply Chain Management
Technology and Innovation
spellingShingle Open innovation
human-centred innovation
growth strategy
entrepreneurship
collaboration and teams
Startups
Operations and Supply Chain Management
Technology and Innovation
CRAMA, Pascale
BHATTACHARYA, Lipika
LIM, Chon Phung
KULZER SACILOTTO, Cintia
Lynk Biotech: Open innovation project management
description The case is set in July 2020, when Lynk Biotech (Lynk), a pharmaceutical research company based in Singapore is facing the dilemma of designing new products from its existing transdermal platform which is a well-researched proven technology developed by the company. Lynk was a university spin-off focused on drug research, and had pivoted its business model to come up with over-the-counter topical cream products for the market. The company had followed the research publication route to gain visibility for its technology innovation and the clinical trial route to use its proprietary technology to develop products and bring them to market. All along, the company had relied on Open Innovation methods to build collaboration with local educational institutions to publish its research and help conduct clinical trials. However, the company faced significant challenges in expanding its market outside Singapore, as its products required expensive clinical trials and faced regulatory challenges in most countries. In late 2019, a local research firm with ties to a renowned university in Singapore had approached Lynk to collaborate on using its proprietary technology for a new product that it was designing. While sharing its technology with appropriate licensing measures could be a plausible approach for the company to expand its outreach, were there other avenues that Lynk could explore to expand its business? Was partnering with research organisations the right way forward? Had the clinical trial method been the right way of embarking on its Open Innovation journey? This case will enable students to learn about Open Innovation (OI) practices used in SMEs and the challenges faced by SMEs in conducting research and bringing a product to market using Open Innovation methodologies. The case will also help students understand the various collaboration challenges faced by small enterprises and the constraints that act as a barrier towards monetising innovation in the market for such firms.
format text
author CRAMA, Pascale
BHATTACHARYA, Lipika
LIM, Chon Phung
KULZER SACILOTTO, Cintia
author_facet CRAMA, Pascale
BHATTACHARYA, Lipika
LIM, Chon Phung
KULZER SACILOTTO, Cintia
author_sort CRAMA, Pascale
title Lynk Biotech: Open innovation project management
title_short Lynk Biotech: Open innovation project management
title_full Lynk Biotech: Open innovation project management
title_fullStr Lynk Biotech: Open innovation project management
title_full_unstemmed Lynk Biotech: Open innovation project management
title_sort lynk biotech: open innovation project management
publisher Institutional Knowledge at Singapore Management University
publishDate 2022
url https://ink.library.smu.edu.sg/cases_coll_all/422
https://smu.sharepoint.com/:b:/r/sites/admin/CMP/cases/SMU-22-BATCH%20%5BPDF-Pic%5D/SMU-22-0012%20%5BLynk%5D/SMU-22-0012%20%5BLynk%5D.pdf?csf=1&web=1&e=A2R19K
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