The Company
Background and Location
Illinois Synth was formed directly as a result of the collaboration of members from the 2012 University of Illinois iGEM Team. The company corporate headquarters and principal product development facility will be located at the University of Illinois Urbana-Champaign’s Institute for Genomic Biology. Upon expansion and generation of a consistent revenue stream, Illinois Synth will look to occupy the Enterprise Works Tech Incubator located at 60 Hazelwood Drive, Champaign IL.
Facilities
Illinois Synth’s manufacturing and laboratory facilities and equipment are all serviced regularly to maintain the highest performance standards consistent with aseptic technique. Additional capital equipment is projected subsequent to product release to utilize capacity and meet sales demand.
Legal Form of Business
The company will be incorporated as a C-Corporation in the state of Delaware.
Employees
The management team of six executives will look to conduct research and development independent of other employees for the first three quarters of company growth. Future expansion in the fourth quarter and beyond will require several production and sales personnel.
Marketing Plan
Industry Profile
The global synthetic biology market is estimated to grow to $4.5 billion over the next three years. This is due to major developments in biomedicine, pharmaceutical drug synthesis, energy and environmental research, biomaterials, nanotechnology, and biosecurity. There have been significant investments in the industry by companies such as Amyris Inc, GeneScript, Bayer, and Blue Heron Biotechnologies. Additionally, developments in DNA synthesis and sequencing technologies and bioinformatics have catalyzed the progress of synthetic biology ever since the creation of the first synthetic cell in 2010. Synthetic biology is being recognized around the world as an emerging technology that has the potential to provide solutions to energy and food shortage, pollution, infectious diseases, and even climate change. The following diagram depicts the distribution of the global synthetic biology market share, as of 2011:
Competitive Analysis
Direct Competition
Competition for the GEM Toolkit product development line primarily takes the form of other types of RNA binding proteins shown below:
Competitors to IOPiC include alternative ways to produce piceatannol, which currently only take the form of chemical synthesis by companies such as Sigma-Aldrich, Santa Cruz Biotech, and Tocris Bioscience. A price comparison of the three companies is shown below:
Indirect Competition
Indirect competition to the field of synthetic biology as a whole is high, given other technologies that have been around for decades. In the specific niche market within which Illinois Synth is positioned, however, such competition is negligible, because of the inability of non-biological tools to regulate micro-scale biological processes such as gene expression.
Future Competition
Future competition will likely come in the form of new technologies and findings. Proteins with higher binding specificities with a great degree of customizability would render our GEM Toolkit obsolete. Additionally, chemical processes that produce piceatannol with a high efficiency at a low cost would cause a great reduction in the utility of IOPiC. Other compounds, if found to greatly inhibit adipogenesis, could also make a piceatannol-production system unnecessary. Based on current research results, Illinois Synth does not expect such developments to arise in the next decade, will continue to monitor all relevant research, and expects to exit the market prior to major technology advances.
Market Analysis
Target Market Profile
Illinois Synth expects that its products, particularly IOPiC, its piceatannol-production cascade will require a substantial amount of developmental effort. Government approval will likely be required to market any product that involves the use of bacterial cell culture to produce a compound that would be tested with human adipocytes. The company will take the necessary steps to patent and license its products in the United States, as well as negotiate with pharmaceutical companies abroad to obtain marketing approval in a particular country. The target market for Illinois Synth’s products, therefore, will take several forms, including:
- Academic Research Labs
- Industrial Research Labs
- Governmental Research Labs
- Pharmaceutical Competitors
Sales Channels
Our marketing team will make contact with academic universities institutions that are involved in Synthetic Biology research. This will likely be done by leveraging connections to members and advisors of iGEM teams at some of these academic institutions. We will provide our GEM Toolkit at no cost to these institutions, and will look instead to establish a reputation for the product. Upon receiving feedback about the GEM Toolkit, we will look to make any necessary changes or improvements before commercializing it.
Next, the company will look to enter into distribution agreements for the registration and sales of its products in the United States, and eventually foreign countries. These distribution agreements will take the form of contracts with research labs at biotechnology firms, as well as certified manufacturers of chemical compounds such as Sigma-Aldrich.
Illinois Synth will also actively pursue online advertising, advertise our products at biotechnology oriented trade shows, and release a monthly newsletter to keep potential and current customers updated about product developments.
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