From initial discovery to market-ready product, biotech development is a complex multi-phase process, where strategic partnerships, continuous innovation and careful navigation of regulatory landscapes are crucial for long-term success. Despite this complexity (or perhaps because of it), entrepreneurs and VCs seldom take a step back to consider the full trajectory of this journey. In this article, we’ll explore the typical life cycle of a biotech startup, examining the key milestones and hurdles encountered along the way.