Morrisville, North Carolina, USA, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Kymanox Corporation (“Kymanox”), a professional services company exclusively serving life sciences, announced today the launch of an innovative model to help biopharma and medical device companies at every growth stage. Called the Kymanox Hyper-Virtual Model™, the innovative strategy empowers businesses to expedite the development of commercial-ready solutions more efficiently.
Today, most biopharma companies grow in two ways: by hiring staff and by contracting services. But there’s a problem with this kind of growth — it takes a lot of time and energy. Managing the additional departments and partnerships introduces more risks, costs, and obstacles. “For a scientist, engineer, compliance expert, and project manager, it’s so unsatisfying to spend half your day chasing invoices and timesheets, and to fill your calendar with project status meetings,” said Stephen M. Perry, CEO of Kymanox. “You get into this line of work to make a difference for patients, yet many directors end up pushing paperwork for a majority of their day.”
The Hyper-Virtual Model™ offers a novel approach centered around a single mission: a commitment to help biopharma companies focus on what they do best. If companies can focus less on managing and more on making critical decisions to propel scientific discoveries to commercial approval; ultimately, they will be able to serve patients in need. “Whether your organization is a life science startup or a Top 20 Biopharma company, you can unlock the superhuman talent of your leaders by focusing their work on the decisions that will get their product to the next valuation inflection point,” said Perry. “Our new Hyper-Virtual Model™ unlocks that potential.”
How does a Hyper-Virtual Model™ function?
The Hyper-Virtual Model™ functions by drastically reducing supplier overhead and mitigating risk. Today, even companies that call themselves “virtual” still partner with third-party suppliers like Contract Development and Manufacturing Organizations (CDMOs), Clinical Research Organizations (CROs), and many more — often, as many as 50 or more suppliers. In stark contrast, a hyper-virtual company strategically engages as few as five suppliers. With fewer partnerships to manage, companies can reduce costs and risks, and they can position their thought leaders in their sweet spot to focus on the critical path.
Additionally, the Hyper-Virtual Model™ allows companies to surround their decision makers with strategic partners, specifically ones that Perry calls “trusted advisors.” These partnerships are based on strict accountability, including outsourced responsibilities that are formally outlined in various supply and quality agreements. “With a trusted advisor, your partnership terms are tied to strict quality measures,” said Perry. “Your company leadership can be confident that the trusted partner is producing quality work because the partnership is codified with legally binding terms.” With the Hyper-Virtual Model™, a small, capable biopharma team can concentrate on its core strengths, while entrusting a “trusted advisor” partner to take care of everything else efficiently.
Does the Hyper-Virtual Model™ work?
The heart of the Hyper-Virtual Model™ is the belief that life science companies perform better when they can focus their leadership’s attention away from staffing and outsourcing and onto data-driven decision making and valuation inflection points. The Kymanox team has proven that this model works by partnering with companies to manage their oversight and provide the in-depth experience to effectively bring their product to market.
Kymanox has served as a “trusted advisor” partner with many clients over the past decade, proving the model’s applicability and viability. Specifically, Kymanox has seen the model help life science companies in two pivotal aspects:
- SPEED: The acceleration from ideation to market (i.e., bench to patient), with swifter progression through developmental stages, and direct navigation to the next value inflection points, thanks to fewer bottlenecks.
- RISK: More adept management and reduction of risks associated with the business and technology translation, thanks to relationships with “trusted advisor” status partners.
Now, the Kymanox Hyper-Virtual Model™ can be offered to a wider network of clients and the venture capital investors who back them. This innovative approach will help more life science companies get healthcare innovations to patients faster. While Perry welcomes conversations with organizations who are interested in working with Kymanox, he also invites organizations to use the Hyper-Virtual Model™ without Kymanox.
“We’re giving away the ‘secret sauce,’ if you will, because this is what’s best for the Life Science community,” said Perry. “I know that if companies choose to work with Kymanox, we can be their trusted advisor and strategic partner, and we can engage with them in the Hyper-Virtual Model™, but they don’t have to work with us. I am passionate about sharing this model in an open-source way because we know it works, and more effective and efficient execution means more solutions for patients.”
Perry says he is inspired by innovators like Elon Musk and Nils Bohlin, who believed that some “patentable” innovations should be given away for the greater good, and he believes the Hyper-Virtual Model™ is that kind of innovation. “I want to share this model with anyone who could benefit,” said Perry. “Whether you’re a ‘Three-Gals-and-a-Molecule’ startup or a Top 20 Biopharma, I would encourage you to explore this model, to explore how the Hyper-Virtual Model™ could help your leadership avoid paperwork bottlenecks and accelerate work on what matters most.”
Organizations that are interested in learning more can reach out to Kymanox at info@kymanox.com and https://www.kymanox.com/get-in-touch.
The Kymanox Hyper-Virtual Model™ was originally presented at the J.P. Morgan 42nd Annual Healthcare Conference on 09 January 2024, in San Francisco, California USA, by Stephen M. Perry, CEO and Founder of Kymanox. For more about the model, case studies, or what was shared at JPM, please contact info@kymanox.com or visit https://www.kymanox.com/get-in-touch.
About Kymanox:
Kymanox has proven, collaborative, end-to-end solutions that help bring life science products to the market – and keep them there. We are a global professional services organization that supports comprehensive drug development with integrated science, engineering, compliance (e.g., QA/RA), and technical project management. Our work across small and large molecules, medical devices, and combination products affords us a wholly unique advantage. With our diverse team of experts, Kymanox helps clients navigate commercialization challenges that arise throughout a product’s life cycle – from early development to post-market – with optimized safety, quality, efficacy, and accessibility. We strive to advance life science innovation through insightful solutions and collaboration…because patients deserve better. Kymanox was founded in 2004 and is headquartered in Morrisville, North Carolina USA. Kymanox is backed by WestView Capital Partners, a Boston-based growth equity firm. For more information, visit https://www.kymanox.com/ .
Matt Neighoff Kymanox 919.802.5677 matt.neighoff@kymanox.com
