Case | HBS Case Collection | January 2006

Jack Strang at SequenceLabs

by Mukti Khaire, John J. Gabarro and Lynda M. Applegate

Abstract

How can entrepreneur manage his firm if things go wrong despite having a great idea, a solid team, and financial backing? Jack Strang founded a biotech firm with his friend Peter Evans, to develop molecular pathway-based "cures" for metabolic disorders. The idea was revolutionary and had both scientific validity and commercial applicability. No wonder, then, he was the darling of the venture capital industry when he approached them for funding, and he easily got first round financing. He and Evans had also assembled a strong team with impeccable credentials. Nothing, it seemed, could go wrong. Yet, close to second-round financing, nothing seemed to be right, and Strang could not help but worry. The product development was behind schedule, and his team was demoralized and tired. The future seemed uncertain. What had gone wrong? Was there anything that could be done?

Keywords: Corporate Entrepreneurship; Business or Company Management; Venture Capital; Factories, Labs, and Plants; Business Growth and Maturation; Failure; Biotechnology Industry;

Citation:

Khaire, Mukti, John J. Gabarro, and Lynda M. Applegate. "Jack Strang at SequenceLabs." Harvard Business School Case 806-088, January 2006.