Worcester , Mass. Recently, the Worcester Business Journal quoted Crescent Innovation's President, Al Prescott. Mr. Prescott was asked to comment on the historical aspects of the modern biotechnology industry, and its impact on current business models.

"In order to be successful in any field, one must know the history of that field," says Prescott. "My thesis advisor, the late Dr. Randall Swartz, helped scale up what is now called Humalin®. Humalin® was the first commercial product to result from the technique of genetic recombinant engineering. Randy made sure all his students knew the history of Biotechnology."

Prescott was asked to comment on the changing dynamics associated with the Pharmaceutical and Biotech industries. In particular, he was asked to comment on Bristol-Myers Squibb's efforts to build a "Bio-Pharmaceutical" plant in the Devens Commerce Center.

"Industry dynamics require companies to change the way they do business all the time," says Prescott. "In the past, industry has transitioned from the single craftsman, to production lines, to work cells and lean manufacturing. I think both the Pharmaceutical and Biotech industries are experiencing something similar. Biotechnology wants to manufacture products, not just discover them. The Pharmaceutical industry wants to manufacture new products, but their traditional pipelines aren't generating the products necessary. This hybridization and the resulting business models are natural part of business evolution."

Crescent Innovations Inc. is a biomedical company based in Worcester, MA, and is developing technologies to treat TMJ disorders, degenerative joint disease, bone disease, fractures, and more. The company has received a Phase 1 SBIR Grant from the National Institutes of Health, and has worked with Fortune 500 companies.

For more information about Crescent Innovations Inc., please visit:
www.crescentinnovations.com

For a copy of the Worcester Business Journal article, please visit:
Prescott Quoted in WBJ