8 Points for Productive Biobanking Partnerships
No matter what industry you’re in, certain basic values help shape the relationship of two sides working toward a similar goal. So, whether it’s public and private collaborations in life sciences or biobanking partnerships in academia and pharma – the same principles apply.
Bringing two parties together who are both interested in accomplishing a comparable goal can speed the desired outcome and benefit everyone involved with the project – so long as mutual trust, transparency, and open communication precede (and then surround) every interaction.
Here are eight points to follow for sustaining productive biobanking partnerships.
Both partners should define clear goals from the start. Other important parts of preparation include assessing resources required to complete the project, assembling the right people with the right insight and experience for the job, and being ready to adapt to change along the course of the project.
Create a shared vision
Relationships are essential to navigate the challenges that come with the medical and life sciences fields. Biobanking is not an island in biomedical research and should be considered in the global framework. So, it’s crucial to get both partners on the same track as planning begins.
Understand your partners
Knowing your partners and understanding what they want to gain from the collaboration is vital to establish at the beginning. Ideally, each partner supports efforts of the other – and promoting health should be the end goal of everyone involved.
Be clear on risks and rewards
Legal and ethical issues shape the medical and life sciences fields. All partners are smart to know international biobanking practices and business models before setting out on a collaboration.
More importantly, though – positive results happen freely when each partner respects the potential risks and rewards the other brings to the table.
Establish a clear process for making decisions
Both partners should contribute points they need to make and then agree upon process. This helps open the door to sharing information about the project as it moves forward.
A road map defines a plan of action to be maintained and formalizes commitment to the project. By establishing milestones and deadlines, each partner can assess status and activities en route.
Regardless of parameters, timing, and specific points of the plan – the process should stay flexible to accommodate nuances or outright change. Since change is a constant, projects may need to adapt to be successful.
Secure consistent leadership
A leader keeps the right people in the right roles, the goals in focus – and communicates these goals among all contributors. A leader also consistently engages with everyone to make sure the project doesn’t weaken or lose steam halfway through.
Communicate early and often
Open communication at the onset of a partnership makes it easier for everyone to interact and share with everyone else. This sincerity from the get-go ensures a more successful outcome.
And regular communication helps with appreciation of different interests and shapes a more efficient process.
Begin with trust as a core value
As with any partnership, trust is key. Begin with it. Maintain it. Carry it through the conclusion of any project. When you partner with Brooks Life Sciences, you will immediately recognize the value we place on trust in our biobanking partnerships. Having it as a core value will help everyone deal with the inevitable challenges that come with any working relationship.