In the early 1970s the demonstration of recombinant DNA offered new possibilities for making drugs and other products. Entrepreneurs in the US responded almost immediately, forming dedicated companies to commercialize the new technology. Prospective Japanese entrepreneurs, however, faced imposing regulatory hurdles and a drug pricing system that deterred entry into pharmaceutical applications. Consequently, US entrepreneurs raced ahead, establishing a lead that Japan has never been able to fully close. This comparative study looks at the early development of biotechnology in the US and Japan. Drawing on primary and secondary sources it traces the historical roots of recombinant DNA technology, discusses the tensions between regulation and promotional policies and identifies the major actors and strategies that launched biotechnology in both countries. Developing several strands of theory in economic history, science and technology policy, the book proposes a simple model that relates the differences in the two countries' response to variations in the availability of institutional, financial and organizational resources needed to commercialize the new technology. Written in an accessible style, The Race to Commercialize Biotechnology is designed for those with research interests in Asian Studies, Public Policy and Comparative Politics as well as Science and Technology.