CRISPR gene editing has blurred the lines between the fields of biotechnology and digital transformation. The revolutionary molecular scissors is a perfect example of to understand disruptive innovation in the domain of life sciences through an information strategy lens. It has challenged the traditional biotechnology business models and created entirely new digital ecosystems.
The Technology and Market Disruption
CRISPR stared out as a basic defence mechanism for bacteria and it has rapidly evolved over the last decade to replace older gene editing technologies such as ZFNs and TALEN as it is simpler and more cost effective than them. The technology has been widely adopted and it has captured 80% of all gene editing clinical trials, thus exhibiting an exponential technology adoption as expected for a disruptive innovation. The global CRISPR market is set to grow from $2.87Bn to $12.22Bn in the next 10 years. This is largely driven by network effects and platform dynamics as often observed in digital business models.
Digital Business Model Innovation
CRISPR is fascinating from an Information Strategy perspective as it has led to the creation of new digital business models. CRISPR Therapeutics, a leading player in this space, has developed multi-side platforms that connect researchers, pharmaceutical companies, and healthcare providers through collaborative research partnerships, licensing agreements, and milestone payments.
Key features of a successful digital transformation demonstrated by this technology include:
Platform Ecosystems: connected networks that enable collaboration let biotechs, pharma giants, and academic institutes share their data and research with each other
Asset-Light Scaling: CRISPR tools are digitally distributed, thus they can be rapidly scaled across applications and research networks.
Data-Driven Value Creation: This technology generates vast genomic datasets that help create new revenue streams via analytics and drug discovery (now empowered and sped up by AI)
Moreover digital technologies such as Cloud Computing, AI and machine learning, and IoT sensors have been leveraged to process the genomic datasets and other monitoring and predictive applications.
Strategic Implications
CRISPR represents a coalition between traditional biotech models and more novel digital technology paradigms. This technology also showcases the convergence of physical and digital technologies. Although CRISPR is a biological tool, its effectiveness relies on the quality of the software and digital technology employed in the process.
In conclusion, CRISPR seems to be mirroring other digital transformations and it is likely that there will be an increasing shift from product to platform centric business models. Improvements in the data, algorithms, and ecosystems will be majorly responsible for further value creation than the core gene editing tools themselves
References:
1. How CRISPR is really changing lives: https://www.technologyreview.com/2023/03/07/1069475/forget-designer-babies-heres-how-crispr-is-really-changing-lives/
2. CRISPR Retools Life Itself – Trends eMagazine
3. Genetic Engineering Will Change Everything Forever: https://www.youtube.com/watch?v=jAhjPd4uNFY
