A Description of the Business of Medsaic Pty Ltd. Essay
Medsaic Pty Ltd is an Australian biotechnology company that is a good example of a successful start up entrepreneurial business. Founded in 2003, as a spin-off company from the University of Sydney, it was established to commercialize patented intellectual property covering the use of microarrays for the diagnosis of disease.
Medsaic developed new platform technology, now known as DotScanTM, which is a solid-phase cell-capture assay using an antibody mircoarray to immunophenotype cancer cells, as well as …show more content…
The main users of DotScanTM are pathology service providers, and Medsaic were able to develop a commercial partnership with Mayne Pathology, which had the second-largest share of the pathology market at the time. This allowed Medsaic Pty Ltd to develop their product in a commercial pathology environment and work alongside the incumbent technology, enabling them to receive customer feedback throughout the development process, as well as allowing a quick rollout of the product. Medsaic also developed a direct-sale approach, and have looked to expand their product into overseas markets.
On top of this, Medsaic continue to develop their product for new applications and have published research using DotScanTM technology for the diagnosis of