The unfortunate market reality for "Tech Bio" selling into pharma as a tech solution is dangerous work. The market is (usually) simply not large enough, and double whammy is that sales cycles are loooong let's take a look at the tech startups that have started in this space Formation Bio - clinical trial software that pivoted to tx drug discovery Vial - clinical trial infrastructure tech that pivoted to tx drug discovery Schrodinger - small mlc modeling software that pivoted to yep you guessed it - tx drug discovery many, many bioinformatics startups over past 5 years - few surviving many, many gene editing / CRISPR software startups a decade before that - few surviving running joke in this space is that you either die or live long enough to get into tx development the rare exceptions? Veeva - selling clinical trial management & commercial document management Benchling - electronic lab notebook and LIMS software the through line there - they sold into existing budget line items How do you invert this model? Thinking especially about the next crop of AI agents, LLMs, and other next gen tech You have to get out of the tech budget and get into services budget.