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      "text": "total addressable market is pitifully small, limited to somewhere between 10 to 50 of the largest biotech/pharma companies; not viable for mid-tier biotech's; opportunity is already saturated within large pharma as most have already bought some machines to try it out.",
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      "text": "BLI opportunity is small and already saturated within large pharma; not viable for mid-tier to spend $2 million.",
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      "text": "TAM for antibody discovery – BLI's “largest” market – is limited; only ten or so mega-cap companies have enough screening volumes; each of them needs at most 1-2 machines.",
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      "text": "BMS first became involved with BLI in 2012/2013 with seed development money. At the very beginning... we gave them $50,000 as seed money.",
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      "text": "Bristol Meyers expert #2, an ex-senior executive closely involved with bringing in BLI: total addressable market is pitifully small, limited to somewhere between 10 to 50 of the largest biotech/pharma companies; not viable for mid-tier biotech's; opportunity is already saturated within large pharma as most have already bought some machines to try it out.",
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      "text": "“You're talking probably the top-50 biotech and pharma companies. It's going to be somewhere between 1 and 5 machines per each.” — Bristol Meyers Squibb expert #2",
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      "text": "Source: Scorpion Capital consultation calls with experts",
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