Describes the funding and growth of solutions facing Direvo, young German biotech firm with client / partner, who wants to become an investor. We also discuss the business model for the directed evolution technology Direvo, with applications in industrial enzymes and pharmaceutical products, either through partnerships or its own product development, with very different risk / reward structures. As a result, the hybrid business model is a constant source of debate between the team management and Direvo leading investor, Techno Venture Management. How to extract value from Direvo range of business options to develop the optimal exit strategy? "Hide
by Michael J. Roberts, Vincent Dessain, Anders Sjoman Source: Harvard Business School 21 pages. Publication Date: September 24, 2003. Prod. #: 804017-PDF-ENG