Making Pigs Fly

Proteus Biomedical Company

Proteus Biomedical Company was established in 2001 by a number of individuals, including the CEO Andrew Thompson, Savage, and Zdeblick. The creators of the business, which is based in Redwood City, California, started getting together in July 2008 to discuss business development. The business was established with the goal of turning medications and medical gadgets into useful medicines, and the first items it produced saw a market share of 75%. In 2009, Proteus Company was involved in the pharmaceutical industry. They visited with numerous pharmaceutical firms to discuss the technology underlying their products. The first one which is the multi-electrode Lead (MEL) and the second one which is the ingestible event marker (IEM) determine the dosage and timing once ingested by the patient.

Development Agreements and Challenges

The company had to sign development agreements with two or four potential partners on meeting other enterprises, and these contracts cost them $50 million per agreement as development payments. The first agreement was for the development of MEL which was completed in mid-2006 and launched in late 2009 and the second one was to be completed in October 2008. Electronics were embedded to develop the MEL technology and validate it to let the IEM come into existence. The company’s sales reduced due to the delays in approval making the drugs to expire and the rules, the changes in administration and regulations by the government regarding pricing. In January 2007, the business plan was created by O’Reilly’s to develop IEM which is also known as the Raisin Medical Systems (RMS). The first step of the plan of activities was to define and introduce the disease that the system works on and in this case RMS was meant to work on some diseases with a priority of heart failure.

Work Cited

Hamermesh, Richard G., Barley, Lauren & Graham, Ginger. Proteus Biomedical: Making Pigs Fly. A Future, Fictional Study. Harvard Business School. 2010, pp. 1-22.