The Critical Role of BD: Why Timing and Targeting Matter

Success in biotech and life sciences isn’t just about having groundbreaking science or innovative tools—it’s about getting them into the right hands. Whether you’re developing a new therapy, a cutting-edge technology platform, or a critical service, business development (BD) is what connects innovation to opportunity. A strong BD approach ensures that great ideas don’t get lost in the noise but instead gain the traction needed to make a real impact. Timing your outreach strategically and targeting the right stakeholders can make the difference between a missed opportunity and a transformative partnership.

BD for Different Audiences

Business Development plays a crucial role in the success of both biotech companies and life science service providers. For biotech firms, BD helps secure the strategic partnerships and funding needed to advance research, bring therapies to market, and navigate complex regulatory pathways. Conversely, life science tools companies and service providers rely on BD to establish relationships with biotech and pharma clients, ensuring their innovative solutions reach the right customers and drive industry-wide advancements. Understanding the nuances of BD in these sectors can make the difference between stagnation and sustained growth.

BD Best Practices

Successful business development isn’t just about closing deals—it’s about building the right relationships, identifying strategic opportunities, and ensuring long-term value creation. In the biotech industry, where partnerships drive innovation and commercialization, an effective business development approach can accelerate growth and mitigate risks. However, even the best BD strategy can falter without precise targeting and well-timed engagement. Approaching partners too early can result in wasted effort, while waiting too long may mean missing the window of opportunity. Understanding when and whom to engage is key to maximizing BD success.

Here are some key practices to keep in mind for long-term BD success:

1. Know Your Value Proposition

Your value proposition is the foundation of your BD efforts. Clearly articulate how your offering—whether it’s a novel technology, platform, or service—solves a problem or creates a unique opportunity. Biotech stakeholders vary, from scientists to commercial leaders and investors, so tailoring your message to resonate with each audience is crucial. What excites a scientist may not necessarily appeal to a potential pharma partner, so refining your pitch for different conversations ensures that your message lands effectively. Targeting the right decision-makers at the right stage of development strengthens your positioning and improves engagement outcomes.

2. Build & Nurture Relationships

Business development in biotech is a long game. Establishing relationships early—even before you need them—can pay dividends down the road. Engage with key players in the industry, maintain consistent communication, and provide value before asking for anything in return. This could mean sharing industry insights, making strategic introductions, or simply keeping in touch over time. Strong relationships lay the foundation for future collaborations and partnerships that drive innovation forward. Well-timed follow-ups and ongoing engagement help keep your company top-of-mind when the right opportunity arises.

3. Do Your Homework

When it comes to BD, timing and targeting are key. This can be the most time-consuming activity, but it will be well worth the effort. Understanding the needs and priorities of potential partners, investors, and customers gives you a significant advantage. Before entering any discussions, research their strategic goals, pipeline, investment portfolio, and any challenges they may be facing. This level of preparation allows you to position your company as the ideal collaborator by demonstrating how your solution aligns with their objectives. BD professionals who approach conversations with this level of insight stand out and foster more productive discussions. They are also more likely to get acceptance of their initial cold emails. By targeting the right companies and individuals with a clear, informed approach, mentioning specific examples from their pipelines or portfolios that indicate the value of partnering with your company, you increase the chances of meaningful engagement and successful deal-making.

4. Be Data-Driven

In biotech, decisions are rarely made on intuition alone. Investors, potential partners, and stakeholders expect hard evidence to support your claims. Whether it’s clinical data, market analysis, or proof-of-concept studies, having robust data to back up your value proposition is essential. Knowing when to follow up and present key data points—such as clinical milestones, regulatory approvals, or market shifts—can also enhance the impact of your BD efforts. Demonstrating commercial potential, differentiation, and scalability through compelling data-driven storytelling strengthens your credibility and increases the likelihood of success. Be sure that you really know your data and aren’t just making things up or stretching the truth to make it sound better.

5. Stay Agile

The biotech landscape is dynamic—new scientific breakthroughs, regulatory shifts, and market trends constantly reshape the industry. To stay ahead, companies must be flexible in deal structures, collaboration models, and market strategies. Being open to alternative partnership structures, such as risk-sharing agreements or co-development opportunities, can make your offering more attractive. Agility in your BD approach ensures that you can pivot and seize opportunities as they arise.

Business Development as a Strategic Growth Driver

The best BD leaders don’t just focus on closing deals—they create lasting impact by shaping long-term strategic partnerships and positioning their companies for sustainable success. Timing and targeting are critical components of this success—engaging with the right stakeholders at the right moment ensures that your efforts yield tangible results. In an industry where competition is fierce, and the window for engagement is often narrow, having a well-timed, well-targeted BD strategy can be the difference between stagnation and breakthrough success. Identifying the right moment to approach a partner—whether it’s based on their clinical progress, funding cycles, or market needs—ensures that your outreach is relevant and impactful. Likewise, targeting the right stakeholders from the outset prevents wasted efforts and maximizes efficiency.

How do You Find the Time?

By now it’s probably clear how BD can require significant time investment and how rewarding it can be. If you’re unsure where to start or find it challenging to dedicate the time needed, we can help. At Omnium Global, we specialize in providing fractional BD support for biotechs, CDMOs, life science tools companies, and service providers, helping them unlock new opportunities and drive growth.

Let’s connect to explore how strategic BD can accelerate your company’s success.