A roster of new biotech companies has sprung up recently that relies on a virtual business model to keep costs down as they advance therapies to proof of concept. But CoLucid Pharmaceuticals may well set the pace for what qualifies as lean-and-mean these days.
There are only four full-time employees at the company, says CEO James White, PhD. Even if you combined all the part-timers, the payroll would still add up to only 10 full-time staffers. And rather than rent a headquarters space and bring in talent from around the country, Durham, NC-based CoLucid's approach has been to let its people stay put, using all the communications technology at their disposal to keep people connected, coordinated and focused on their projects.
Think low overhead.
"Most of the money," says White, who calls Boston home, "is going to the science." Article