Life Sciences

Developing new technologies and treatments in medical and life sciences involves heavy investment, often over a protracted period and against a background of considerable risk. It is essential to build a portfolio of options, with a balance of high-risk potential ‘stars’ and low-return incremental improvements. Simulation and modelling help reduce the numbers of drug candidates but subsequent failure rates in human clinical trials are still high – emphasising the need for excellent judgment. Poor risk assessment and decision-making can lead to considerable damage to finances and reputation, and ultimately to shareholder value.

Oxford Risk can help the life sciences sector by ensuring that the risk attitudes of employees in key roles fit with the needs of those roles. In particular, we can provide tools and services that model ‘soft’ risk, inform investment appraisals and remove human biases from major decision processes. We can advise on whether the corporate culture and processes are aligned with the expected attitudes towards risk-taking or risk aversion. We can provide tools to ensure that the most appropriate people are recruited or placed. In effect, the ‘riskiness’ of the organisation’s own decision-makers can be evaluated and corrected or compensated for.