Genesis BioSystems: The Board Weighs In on Product Development Setbacks

by: Tom Porter

Publication Date: May 24, 2012
Length: 12 pages
Product ID#: 1-429-144

Core Disciplines: Entrepreneurship & Innovation

Partner Collection:

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Teaching Note

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Genesis BioSystems is a venture-backed start-up that has developed a potentially revolutionary alternative to in-vitro fertilization. Before bringing the product to market, Genesis must achieve several key milestones, including the FDA’s approval. The product’s most recent tests were disappointing, but perhaps human embryos will produce a better study than mouse embryos. The decision to initiate human clinical trials will have enormous consequences for the company’s future, and Genesis’s CEO must come to an agreement with the board of directors on how to proceed.

Teaching Objectives

After reading and discussing the material, students should:

  • Determine the role of the boards of directors for early-stage companies.
  • Describe the role of a CEO, specifically as it relates to the board of directors.
  • Asses how venture capitalists and other investors can add value.
  • Practice strategic planning for medical device companies.