During 2005, RECEPTA biopharma was one of the companies selected to participate in a program entitled Global Entrepreneurship Lab (G-Lab), maintained by the Sloan School of Management of the Massachusetts Institute of Technology (MIT). The G-Lab is a course offered to MBA students at Sloan combining classroom and traineeship activities in conjunction with participating companies that are selected for consultation projects. Many of these companies are located in underdeveloped countries. From presentations of the projects given by the companies, the students choose to participate in those that are of most interest to them. An initial analysis is developed in-class by the students, which is followed by a trip to the company where they remain for 3 to 4 weeks to conclude their project. In this final stage, the study is conducted in close collaboration with the directors and managers of the companies.
The team of four MBA students from MIT/Sloan who worked on the RECEPTA biopharma project included Tracy Kim, Rehka Ravindra, Ikem Ugwu and Debo Lukanmbi. This team formulated a business plan for RECEPTA biopharma focusing on the increased value of each of the monoclonal antibodies in its portfolio. This consultancy project has been immensely valuable to RECEPTA biopharma since it was based on a probability model generated specifically for research and development activities within the pharmaceutical industry by researchers from the Sloan School. The G-Lab collaboration also prompted RECEPTA biopharma to re-analyze its business model and the elements that influence it in the market.