Biocompatibles: Crossing Over to the Convergence Side in Cancer and Stroke

In his ten years as CEO of Biocompatibles International PLC, Crispin Simon has attracted his share of criticism for what some consider his unconventional strategy in running the company, but no one can accuse him of trying to play it safe. The Farnham, UK-based public company has reinvented itself several times over its 25-year history, building on its primary core competencies in PC (phosphorylcholine) coating, polymer technology, and drug delivery. But the company’s continued expansion of its oncology products, which include drug-eluting beads and brachytherapy seeds, and particularly its recent work in developing a stem cell-based stroke therapy, reflect the continuing shift in the company’s strategy away from its traditional device roots and into what many call the netherworld of drug-device convergence, an area high on promise, low on results.

Under Simon’s leadership, Biocompatibles divested its coronary stent and ophthalmology businesses—both established device markets—to shift its focus to clinical areas...