Cooperation agreements in biotechnology allow us to observe the complexity surrounding alliances. The market globalization, the exorbitant costs of R&D and the rapid changes in technology, are arguably amongst the principal reasons that push companies to establish cooperation agreements. Biotechnology companies use this instrument to develop external features in the search for resources and missing expertise. This paper sets out to identify if such cooperation agreements in biotechnology companies are an advantage in themselves, sufficient for the acquisition of new capabilities and if they help the growth of these companies. For this approach, a private database of companies in the two most advanced countries in this sector: United States and United Kingdom, will be used.