Minerva 2010: Turbulent Times

By: John R. Wells and Benjamin Weinstock

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Synopsis: In 2010, amid a flurry of new discoveries, Cynthia Bamdad, founder and CEO of Minerva Biotechnologies Corporation (Minerva), raised $6.6 million to test her new cancer drugs in mice. It had been more than 6 years since she had announced that she and her small team at Minerva had identified the mechanism that caused 96% of all breast cancers and had discovered a number of small molecule drugs and antibodies to block it. Funding the next stage of development had proven very difficult, but, undeterred, Bamdad had raised enough to keep her laboratory open and continue her research work. In the process, she made the startling discovery that the "cancer" mechanism she had discovered was an integral part of the production of all human embryonic stem cells, and that cancer was a result of this mechanism going awry. As a result, Minerva developed the ability to produce high-quality stem cells, which opened up a whole range of new commercial opportunities for the company, including advanced therapeutics and processes for growing and replacing human cells of all types. However, resources were limited. Where should she focus her efforts?