Biotechnology Industry Terminology

AAV (Adeno-Associated Virus)

A small, non-pathogenic viral vector widely used to deliver therapeutic genes in vivo; valued for tissue tropism, relatively low immunogenicity, and episomal persistence, but limited by payload capacity (~4.7 kb) and pre-existing neutralizing antibodies.

non-pathogenic viral vector used for in vivo gene delivery; limited cargo (~4.7 kb); distinct serotypes for tissue tropism; manufacturing in HEK293 or Sf9 systems; immunogenicity considerations; Selecting AAV9 for CNS tropism in a neurodegenerative program; Our AAV capsid engineering aims to evade pre-existing antibodies; Comparing HEK293 vs baculovirus-Sf9 systems for AAV manufacturing scale-up


Adaptive Trial Design

A clinical design allowing prospectively planned modifications based on interim data while maintaining statistical integrity and regulatory acceptability; can reduce timelines and increase efficiency.

interim analyses and adaptations pre-specified to preserve Type I error; includes response-adaptive randomization, sample size re-estimation, arm dropping, enrichment, and seamless Phase 2/3 designs; We plan a futility interim to drop underperforming arms; The DMC will guide sample size re-estimation per the adaptive protocol; Our seamless Phase 2/3 may transition without halting enrollment


ADME

The set of processes governing a drug’s journey through the body: absorption into circulation, distribution to tissues, metabolism (often via CYP enzymes), and excretion; drives exposure, efficacy, and safety.

Absorption, Distribution, Metabolism, Excretion; central to PK profiling and DMPK strategy; assessed via in silico, in vitro, and in vivo studies; informs dose selection and safety; We need a full CYP induction/inhibition panel for ADME risks; Poor solubility is limiting absorption; consider enabling formulation; High volume of distribution suggests tissue binding


BLA (Biologics License Application)

The FDA submission seeking approval to market a biologic; requires comprehensive CMC, nonclinical, clinical, pharmacovigilance, and labeling packages; leads to a PDUFA date and potential inspections.

US marketing application for biologics under the Public Health Service Act; includes CMC, nonclinical, clinical, labeling; PDUFA review timelines, potential advisory committee; Our BLA submission is targeted for Q4 after process validation; FDA accepted the BLA and set a PDUFA date in October; We converted from an NDA to a BLA given the product is a mAb


Biologics

Therapeutic products derived from living organisms (e.g., monoclonal antibodies, recombinant proteins, vaccines, and cell/gene therapies), characterized by molecular complexity, process sensitivity, and distinct regulatory pathways.

large, complex molecules or living therapies (mAbs, proteins, vaccines, cell/gene therapies); manufactured in living systems; cold chain and immunogenicity concerns; biosimilars after LOE; Our biologic requires cold chain and strict GMP controls; The biosimilar landscape intensifies after LOE; Manufacturing variability can affect glycosylation profiles


Biomarker

A measurable characteristic indicating normal biology, disease state, or pharmacologic response; used to enrich trials, track pharmacodynamics, or support accelerated approvals when validated as surrogates.

predictive, prognostic, diagnostic, pharmacodynamic, or surrogate markers; can be molecular, imaging, or clinical readouts; enable patient selection and dose optimization; We’ll use an EGFR mutation biomarker to select patients; pCR will serve as a surrogate endpoint for early efficacy; Our PD biomarker is receptor occupancy on T cells


Bioreactor

A controlled vessel for cultivating cells or microbes to produce biologics; design and control strategies directly impact titer, product quality, and scalability.

stirred-tank, perfusion, or single-use systems; controls pH, DO, temperature, and feed; key to upstream scale-up and process intensification; We’re scaling from 2 L to 2000 L single-use bioreactors; Perfusion intensified our upstream to boost cell-specific productivity; Tight DO control improved glycan profiles


CAR-T

Chimeric Antigen Receptor T-cell therapy, in which patient or donor T cells are engineered to recognize tumor antigens; highly effective in certain hematologic cancers but complex to manufacture and manage clinically.

autologous or allogeneic engineered T cells targeting antigens like CD19 or BCMA; risks include CRS and neurotoxicity; vein-to-vein time is critical; We saw Grade 2 CRS managed with tocilizumab; An allogeneic CAR-T could shorten manufacturing lead times; Antigen escape drives our plan for dual-targeting CARs


CDMO (Contract Development and Manufacturing Organization)

A partner that develops processes and manufactures drug substance and/or product under GMP on behalf of sponsors; critical for capacity, expertise, and speed-to-clinic/market.

outsourced process development and GMP manufacturing; tech transfer, scale-up, validation; MSAs and quality agreements govern responsibilities; We’re tech-transferring our DS process to a second CDMO; The quality agreement defines deviation and CAPA ownership; Parallel CDMOs mitigate single-source risk


Cell Therapy

Treatment modalities that administer live cells to achieve therapeutic effect; require rigorous manufacturing, QC, and logistics, often with individualized (autologous) workflows.

therapeutic use of living cells (e.g., CAR-T, NK, MSC); autologous vs allogeneic sourcing; stringent sterility and release testing; classified as ATMPs in the EU; Our autologous cell therapy needs just-in-time logistics; Allogeneic cells can lower cost and improve scalability; Release testing includes sterility and potency assays


CHO Cells

The industry-standard mammalian host for producing recombinant proteins and antibodies, favored for robust growth, productivity, and post-translational modifications compatible with humans.

Chinese Hamster Ovary cells dominate recombinant protein production; enable human-like glycosylation; used in fed-batch and perfusion; We selected a high-producing CHO clone via limiting dilution; Glycoengineering CHO lines improved ADCC; Fed-batch in CHO reached 8 g/L titer


CMC (Chemistry, Manufacturing, and Controls)

The body of technical information describing how a product is made and controlled to ensure safety, quality, and consistency; includes critical quality attributes, validation, and stability data.

covers DS/DP description, process controls, specs, stability; defines CQAs, CPPs, and control strategy; central to IND/BLA/NDA quality; Defining CQAs guided our purification steps; We established a control strategy linking CPPs to CQAs; Stability-indicating methods support shelf-life claims


Companion Diagnostic (CDx)

An in vitro diagnostic that identifies patients who should or should not receive a specific therapy; typically co-developed and co-labeled with the drug.

test essential for safe and effective use of a therapy; often requires PMA in the US; co-developed and referenced in labeling; The CDx detects NTRK fusions for therapy eligibility; FDA requested PMA for the companion assay; Labeling ties treatment to a validated CDx result


COGS (Cost of Goods Sold)

The direct costs of producing and releasing a product; for biologics, driven by upstream yields, purification efficiency, testing, and capacity utilization.

includes raw materials, disposables, labor, QC, overhead; biologics COGS impacted by titer, yields, and DSP throughput; affects pricing and gross margin; Intensified upstream lowered COGS per gram; COGS modeling supports long-term pricing strategy; High Protein A resin costs are a DSP bottleneck


CRO (Contract Research Organization)

A service provider that plans and executes preclinical and clinical research activities for sponsors, enabling scalability and operational expertise.

outsourcing clinical operations, monitoring, biostatistics, and data management; selection via RFP; vendor oversight is critical; We’ll outsource Phase 2 to a global CRO network; The CRO will handle site initiation and monitoring; KPIs and governance ensure CRO performance


CRISPR

A genome editing platform enabling precise DNA/RNA modifications; transformative for therapeutic programs but requires careful design to manage specificity, delivery, and regulatory scrutiny.

gene editing using Cas nucleases, base or prime editors; delivery via LNPs or viral vectors; off-target effects and IP are key considerations; ABE8e improved specificity vs wild-type Cas9; LNP delivery targets hepatocytes for in vivo editing; We licensed CRISPR IP to ensure freedom to operate


DCF (Discounted Cash Flow)

A valuation method that discounts expected future cash flows to present value; in biotech, often uses risk-adjusted NPVs reflecting staged development risks.

values programs by risk-adjusted free cash flows (rNPV); sensitive to WACC, probability of success, pricing; triangulated with comps; Our rNPV increased after positive Phase 2 data; WACC and peak sales assumptions drive DCF outcomes; DCF triangulates with comps and precedent deals


Dilution

The reduction of an existing shareholder’s ownership percentage when new shares are issued; key in financing strategy and cap table planning.

ownership percentage decreases after new equity round or option pool increase; pre/post-money valuation sets dilution; anti-dilution provisions in down rounds; The Series A caused 20% dilution to common holders; Expanding the option pool increased founder dilution; Our term sheet includes weighted-average anti-dilution


Downstream Processing

The set of purification and formulation steps following upstream culture to achieve required purity, potency, and stability for biologics.

harvest, clarification, chromatography (Protein A, ion exchange), virus clearance, UF/DF; often the capacity bottleneck for mAbs; Protein A capture followed by polishing improved purity; UF/DF set final concentration and buffer; Viral clearance validation met regulatory expectations


EMA (European Medicines Agency)

The EU regulator responsible for evaluating medicinal products via centralized procedures, guiding scientific advice, and post-marketing safety.

oversees centralized approvals (MAA) in the EU; CHMP and CAT provide scientific opinions; PRIME expedites development; We’ll file a centralized MAA to EMA; CHMP adopted a positive opinion for our product; PRIME designation supports accelerated EU development


Fast Track Designation

An FDA program to expedite development and review of drugs addressing unmet medical needs; provides rolling review and enhanced communications.

enables rolling review and more frequent FDA interactions; for serious conditions with unmet need; may complement Priority Review or Breakthrough; Fast Track will let us submit the CMC section early; We’ll leverage frequent FDA touchpoints to de-risk Phase 3; Fast Track plus Priority Review could shorten timelines


First-in-Human (FIH)

The initial administration of an investigational product to humans, typically in Phase 1, focusing on safety, tolerability, PK/PD, and dose escalation.

SAD/MAD design; sentinel dosing for safety; MABEL-based starting dose; may use microdosing or healthy volunteers depending on risk; Our FIH uses sentinel dosing for the first cohort; MABEL informed the conservative starting dose; The SAD/MAD study includes exploratory PD markers


GCP (Good Clinical Practice)

International ethical and scientific quality standards for designing, conducting, recording, and reporting clinical trials to ensure subject protection and data credibility.

ICH E6(R2/R3) standards for ethics and data integrity; informed consent, monitoring, and documentation; ALCOA+ principles; An audit flagged consent form deviations under GCP; We’ll enhance data integrity per ALCOA+; The monitoring plan aligns with ICH GCP guidelines


Gene Therapy

Therapeutic delivery of genetic material to modify or correct disease processes; can be one-time treatments with durable effects but require careful risk management.

in vivo vs ex vivo approaches; integrating vs episomal vectors; durability and long-term follow-up; safety concerns like insertional mutagenesis; Our in vivo therapy aims for a functional cure; Integration risks inform our vector choice; A 5–15 year follow-up plan is part of the safety strategy


GLP (Good Laboratory Practice)

Quality system principles governing nonclinical laboratory studies to ensure data integrity and traceability for regulatory submissions.

applies to nonclinical safety studies; requires SOPs, QA oversight, and archival of records; essential for IND-enabling tox; The tox study was audited for GLP compliance; QA inspected deviations and corrective actions; All raw data will be archived per GLP requirements


GMP (Good Manufacturing Practice)

Regulatory standards for manufacturing medicines to ensure quality, safety, and consistency, covering facilities, processes, documentation, and quality systems.

ensures products are consistently produced and controlled; requires validated processes, batch records, deviations/CAPA, and lot release; Annex 1 for aseptic; We executed PPQ runs to validate the process; A deviation led to a CAPA and retraining; Annex 1 updates drove aseptic upgrades in fill/finish


HTA (Health Technology Assessment)

A systematic evaluation of a technology’s clinical value and economic impact to guide payer coverage and pricing decisions, varying by country.

evidence review for clinical and cost effectiveness; informs reimbursement decisions by agencies like NICE, HAS, G-BA; may result in price negotiations; NICE requested additional comparative evidence; Our G-BA dossier supported added benefit vs SOC; HTA feedback shaped our real-world evidence plan


ICER (Incremental Cost-Effectiveness Ratio)

A metric comparing the additional cost and additional health benefit (e.g., QALYs) of one intervention vs another, used by payers and HTA bodies to judge value.

cost per QALY gained vs comparator; sensitivity to utilities, costs, and time horizon; not to be confused with the US organization ICER; The ICER of $120k/QALY fell below the threshold; We ran one-way sensitivity on utility weights; Shorter time horizons worsened the ICER outcome


IND (Investigational New Drug)

A regulatory submission to FDA permitting clinical investigation of a new drug/biologic in humans; details product quality, preclinical data, and proposed clinical plans.

US authorization to begin clinical trials; includes CMC, nonclinical, and clinical protocols; 30-day safety review; requires safety reporting; Our IND-enabling tox studies are nearly complete; FDA’s 30-day review starts upon IND receipt; We’ll submit a protocol amendment for the dose expansion


IP (Intellectual Property)

Legal protections for inventions and know-how that create competitive moats; critical for exclusivity, partnering, and valuation in biotech.

patents and trade secrets; composition-of-matter, method-of-use, and formulation claims; patent term extensions (PTE/SPC); freedom-to-operate analysis; We filed a composition-of-matter patent pre-IND; An SPC could extend EU exclusivity post-approval; FTO analysis cleared key CRISPR claims


KOL (Key Opinion Leader)

A respected expert whose insights shape clinical strategy, trial design, and adoption; often partners on advisory boards, publications, and sites.

influential clinicians/scientists guiding development; engage via advisory boards; can accelerate trial enrollment and credibility; Our KOLs preferred PFS as the primary endpoint; KOL feedback refined inclusion/exclusion criteria; A KOL-led registry will support RWE generation


LOE (Loss of Exclusivity)

The point at which IP or regulatory exclusivities lapse, allowing competitors to enter; requires proactive planning for revenue defense.

patent or data exclusivity expiry enabling generics/biosimilars; triggers price erosion; lifecycle management strategies mitigate impact; We expect biosimilar entry two years post-LOE; A new SC formulation extends the franchise; Contracting strategy will cushion LOE erosion


Market Access

The discipline of achieving timely, sustained patient access by aligning price, value evidence, and payer needs across markets.

payers, HTA, and pricing strategy to secure reimbursement; launch sequencing and evidence plans; contracting and patient support; US-first launch enables earlier revenue despite payer hurdles; Our value story is anchored in QALYs and RWE; Early payer advisory boards shaped our evidence plan


Mechanism of Action (MOA)

The biochemical process through which a therapy exerts its effect, including target(s) and pathway modulation; foundational for rationale and risk assessment.

biological pathway and target engagement; differentiates from competitors; informs biomarker and dosing strategy; On-target cytopenias align with the MOA; Our MOA supports tumor-agnostic development; We animated the MOA for investor education


Monoclonal Antibody (mAb)

Antigen-specific immunoglobulins used as therapeutics; can be engineered for enhanced potency, specificity, or half-life, and manufactured at scale in mammalian systems.

IgG subclasses with effector functions; engineered formats (bispecifics, ADCs); produced in CHO with glyco control; An IgG1 backbone enables ADCC; Our bispecific mAb targets two checkpoints; The ADC couples a mAb to a cytotoxic payload


NDA (New Drug Application)

The FDA submission seeking approval to market a drug, providing comprehensive quality, nonclinical, and clinical evidence, along with proposed labeling.

US marketing application for small molecules (and some biologics historically under CDER); 505(b)(1) or 505(b)(2) pathways; labeling negotiations and potential CRL; We’re pursuing a 505(b)(2) leveraging literature; Priority Review shortened our NDA timeline; We addressed a CRL with additional CMC data


Orphan Drug Designation

A regulatory status granting incentives for developing treatments for rare conditions, improving feasibility for small populations.

for rare diseases (≤200,000 prevalence in US); benefits include tax credits, fee waivers, and 7–10 years exclusivity; protocol assistance in EU; Orphan status de-risks our rare pediatric program; EU orphan designation supports 10-year exclusivity; We’ll leverage the tax credit for clinical costs


PDUFA (Prescription Drug User Fee Act)

US legislation establishing FDA review timelines and funding via sponsor fees, providing predictability for development and approval planning.

sets user fees and review goals; PDUFA date signals expected FDA action; current framework is PDUFA VII; The PDUFA date is October 15; PDUFA VII updates include new review goals; We’re preparing for a potential advisory committee pre-PDUFA


Pharmacodynamics (PD)

The study of a drug’s biochemical and physiological effects and their mechanisms, linking exposure to response.

relationship between concentration and effect; EC50/Emax models; PD biomarkers and exposure-response inform dose; Receptor occupancy correlates with clinical benefit; PK/PD modeling supports the Phase 2 dose; IL-6 reduction serves as a PD biomarker


Pharmacokinetics (PK)

The study of how the body affects a drug over time through absorption, distribution, metabolism, and excretion, shaping dosing regimens.

concentration-time behavior (Cmax, AUC, t1/2); bioavailability and distribution; noncompartmental and population PK analyses; Exposure increased dose-proportionally up to 600 mg; Food-effect altered Cmax but not AUC; PopPK identified weight as a covariate


Pharmacovigilance

The science and activities relating to identifying, evaluating, understanding, and preventing adverse effects or any other drug-related problems.

detection and management of adverse events; safety databases, signal detection, RMP; PSUR/DSUR reporting; REMS when needed; Signal detection in FAERS triggered label updates; Our RMP adds a pregnancy registry; DSUR submission summarized annual safety data


Platform Company

A business built around a scalable technology (e.g., delivery, editing, discovery) that can generate numerous programs and partnerships.

reusable technology enabling multiple assets; economies of scope; partnered programs and out-licensing; multiple shots on goal; Our LNP platform supports five liver targets; We out-licensed the platform to a big pharma for CNS; The platform thesis underpins portfolio diversification


QALY (Quality-Adjusted Life Year)

A standardized measure of health outcomes weighting life-years by quality, enabling comparisons across interventions in economic evaluations.

combines quantity and quality of life via utility weights (0–1); used in cost-effectiveness analysis; informs payer decisions; The therapy adds 1.8 incremental QALYs vs SOC; Utility mapping came from EQ-5D data; HTA bodies rely on QALYs to compare therapies


Real-World Evidence (RWE)

Clinical evidence on use and potential benefits/risks of a product obtained from real-world data outside randomized trials.

derived from RWD (EHRs, claims, registries, devices); supports label expansion, external controls, and HTA submissions; requires robust causal inference; An external control from a registry supported our filing; We’re integrating claims and EHRs for RWE; RWE will underpin our post-launch outcomes study


ROI (Return on Investment)

A financial metric assessing the efficiency of an investment; in biotech, used across R&D projects, partnerships, and launch activities.

net gain relative to investment; applied to programs, BD deals, or commercialization; complements rNPV in portfolio decisions; The BD deal cleared our ROI hurdle rate; Marketing ROI improved after payer segmentation; ROI plus strategic fit drove the go/no-go decision


Runway

The time a company can operate before needing new capital, based on cash balance and burn rate; a key metric for investors and management.

months of cash remaining at current burn; extended via financing, cost controls, or partnerships; central to operating plans and milestones; We have 18 months of runway post-Series A; A partnership milestone extends runway into 2027; Cost containment adds three months of runway


Series A

An early equity financing round that establishes pricing, governance, and capital to reach major value inflection points.

first significant institutional round; sets valuation and key terms; funds to clinical POC or key technical de-risking; The Series A targets $25M to complete Phase 1; The lead investor proposed a term sheet with pro rata rights; Use of proceeds focuses on IND and FIH


TAM/SAM/SOM

Framework for sizing markets: Total Addressable Market, Serviceable Available Market, and Serviceable Obtainable Market; anchors revenue forecasts and prioritization.

market sizing for strategy and fundraising; TAM total universe, SAM served by model, SOM realistically captured; built top-down and bottom-up; TAM is $5B; SAM $1.2B; SOM $250M at year 3; A patient-based bottom-up model supports SOM; Investors challenged our TAM assumptions during diligence


Titer

The amount of expressed product per unit volume in upstream culture; higher titers generally reduce costs and increase capacity.

concentration of product in culture (g/L); key driver of COGS and facility throughput; improved via media, feeds, and cell-line engineering; We achieved 8 g/L in fed-batch CHO; Perfusion increased space-time yield; Titer gains allowed smaller chromatography columns


Viral Vector

Engineered viruses used to deliver genetic material into cells for gene and cell therapies; choice of vector affects efficacy, safety, and manufacturability.

AAV, lentivirus, adenovirus platforms; selection based on tropism, cargo size, immunogenicity; manufacturing and QC complexity; We chose lentivirus for ex vivo CAR-T transduction; Adenovirus enables high expression for vaccines; Suspension culture simplified vector scale-up


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