The Business of Science^® LLC
The BioFin® Score

Scientific innovations go through a long, arduous journey before getting to market and reaching the people who need it. Today, as the world battles the COVID-19 pandemic, the dire need for life-saving innovations to reach the market faster is greater than ever. Developing, investing, and delivering bioscience innovations cost billions with limited resources to mitigate risk. Even as pharma enterprises, bioscience startups, and investors leave no stone unturned, they are weighed down by a lack of expertise to perform proper due diligence, siloed information between investors and bioentrepreneurs, the ever-changing regulatory compliances, which slow their progress to market.

Within her 25 years in clinical and translational medicine, Pamela Groen witnessed the repeated failure of innovative life-altering discoveries reaching the people who need these discoveries to live a better life. In response, Pamela founded the company The Business of Science^®, LLC, and the BioFin^® Score.

The Business of Science sits at the intersection between bioscience startups (biotech), and the financial sector (fintech)—to create the only BioFin technology provider within one platform. To accelerate innovations into the market environment, Pamela created an Artificial Intelligence (AI) platform to navigate innovation and finances’ complexities with ease and accuracy.

Like the FICO Score, The BioFin Score is a predictive analytic score that measures and ranks critical details of a biotech startup’s readiness along dimensions of risk, compliance, viability, and profitability. “Our intelligent platform generates a metric score, which summarizes a biotech startup’s key aspects along the dimensions of commercialization valuation, scientific feasibility, benchmarks, compliance traction, reimbursement and hundreds of other attributes,” explains Pamela Groen, founder of The Business of Science^® LLC.

Our AI platform generates a metric score, which summarizes a biotech startup’s key aspects along the dimensions of risk, compliance, viability, and profitability

“Utilizing the BioFin Score, we remove risk complexities and accelerate innovations to market within 12 months, which could otherwise take three years before an exit,” she adds. "The platform not only generates a real-time score of the innovation, it also provides the bio entrepreneur and investor step by step guidance, templates, forms, and other supportive products."

In the event of a change in government guidelines or regulations, edits, or notes related to compliance and regulatory requirements, the platform keeps investors informed. The platform is both a disruptor and a behavior change for how innovation progresses from the laboratory bench to the patient’s bedside for both the bio entrepreneur and investor. With an effortless implementation process, the platform can be functional within days, including the client’s user interface customization. Customers can subscribe to the platform based on their specific needs.

To showcase the platform’s prowess, Pamela proceeds to narrate how The Business of Science successes exceed over a billion dollars in transactions. What generally takes three years of scientific development and high-risk investment funding utilizing The Business of Sciences services, the average turn-around time for innovation is one year versus the traditional three years before a return on investment.

“Our platform is a one of a kind in that sits as a dual sided network between the Biotech and Fintech that performs risk mitigation, due diligence and provides an AI driven analytic score”, adds Pamela. With the pandemic threat still looming large, The Business of Science and the BioFin Score accelerates the time to market and return on investment 75 percent faster than the current timelines.