Bioscience companies deliver life-changing products to patients faster with NetSuite
20th Aug 2018
Brought to you by
Share this content
Selecta Biosciences and BioMonde select NetSuite to simplify business processes
To accelerate the commercialization of life-changing products, bioscience companies are selecting Oracle NetSuite. Two cutting-edge bioscience companies, Selecta Biosciences and BioMonde, are leveraging NetSuite to bring life-changing products to market faster and allow them to focus on the continued treatment and prevention of serious diseases.
Selecta Biosciences seeks to counter unwanted immune responses
Selecta Biosciences, a clinical-stage biopharmaceutical company, is focused on unlocking the full potential of biologic therapies by mitigating unwanted immune responses. Selecta Bioscience’s current pipeline includes enzyme, oncology and gene therapy product candidates enabled by its proprietary Synthetic Vaccine Particles (SVP™) technology.
After working with inefficient, on-premise software, Selecta Biosciences selected NetSuite to better manage financial, accounting, and project management processes with one unified system. With NetSuite, Selecta Biosciences has harmonized data from accounting, timekeeping and project management, which allows the business to synchronize project planning with cash flow and the timing of crucial product events.
“Implementing NetSuite was a great system investment,” said Chip Michaud, FP&A Director, Selecta Biosciences. “By significantly reducing the amount of time to handle backend processes, we are able to better focus on developing our product candidates.”
BioMonde revisits ancient treatment
BioMonde, a global bioscience company based in the UK, specializes in larval debridement therapy for the treatment of patients with chronic and non-healing wounds. Larval Therapy has proven efficacy and is known as a natural leader in wound debridement.
To help manage complex business processes, regulatory mandates, and global manufacturing and distribution challenges, BioMonde selected NetSuite OneWorld. With its data-driven approach, NetSuite OneWorld enables BioMonde to quickly respond to patients’ needs by providing a 360-degree view of financial, customer, product and order data that allows BioMonde to focus on expanding its global footprint and bringing its innovative treatment to more suffering patients.
“To reach our potential, we quickly needed to become a world-wide operation,” said Mike Johnson, CFO, BioMonde. “NetSuite OneWorld enabled us to expand and now we’re able to slice and dice not just financial data, but all the data sales people have captured. With this data, we have a clear view of where we are and where we need to be at any given moment.”
“The bioscience industry faces unique challenges, including complex healthcare regulations and commercialization requirements, which means it often takes years and millions of dollars to turn ideas into reality,” said Paul Farrell, VP Industry Product Marketing & Management, Oracle NetSuite. “To navigate this complexity and devote their attention to making life-changing breakthroughs for patients, bioscience companies are increasingly selecting NetSuite to manage their business processes. NetSuite gives them a unified, cloud-based platform to streamline business complexities and pressures around everything from regulation to increased competition.”
For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides a suite of cloud-based applications, which includes financials / Enterprise Resource Planning (ERP), HR, professional services automation and omnichannel commerce, used by more than 40,000 organizations and subsidiaries in 199 countries and territories.