A new player in the field of biopharmaceuticals, iQnovate has made a solid imprint on the industry with its innovative business model and value proposition to clients and investors. In operation for merely three years, the Sydney-based firm is recognised as a thought leader. It is the world's first life science organisation to offer intellectual property (IP) asset management services and scientific advice to pharmaceutical and biotechnology companies. "Players in the biopharma business face huge costs and significant risks," says CEO and chairman George Syrmalis, who founded the firm in 2011. "With iQnovate's on-demand IP asset management service, we are helping our clients manage risks by introducing economies of scale to the drug development life-cycle and process." The firm effectively manages biotech assets, whether a pharmaceutical, medical device, technology platform or a compound, from pre-clinical trials right up to registration and commercialisation. Through its flexible outsourcing business model, iQnovate hedges the risks associated with drug development, reduces time to market and delivers operational efficiencies. These distinct offerings have sealed iQnovate's place in the industry where drug development normally costs at least US$1.5 billion and takes 10 to 15 years to complete. "Integral to our success is our people," Syrmalis says. The iQnovate organisation is nimble, with a core team of medical and scientific staff working hand-in-hand with an extensive network of industry professionals, key opinion leaders and partners. The firm is one of three iQ companies conceived together to maximise each other's potentials. The other two are iQX, an investment company that provides early-stage capital to unlisted life science companies, and iQ3, a corporate finance adviser specialising in stock exchange listings of biotechs. "The iQ companies have been strategically structured to monetise that scientific intellectual property, hence making it a successful biotech business, increasing the probability of commercial success," Syrmalis says. In less than two years after its IPO, iQnovate achieved a 595 per cent return for its shareholders - a testament that the firm's business model is well received by investors. The firm is listed on the National Stock Exchange of Australia and is cross-listed in the United States and Europe in line with efforts to increase liquidity as it continues on its growth path. With the drug development business forecast to reach US$1.3 trillion by 2015, iQnovate aspires to broaden its service portfolio to include clinical research. "We're actively looking to acquire clinical research organisations that operate centrally in the Asia-Pacific region and have a matching company culture," Syrmalis says. "We want to see what synergies we can build with these companies." iQnovate www.iqnovate.com