Do AI-Native Biotechs Need Departments? Benchmarking Company World Models for AI-Driven Drug Development

AI-native biotechnology companies are often designed by copying human biotech org charts into agent roles. We argue for a different abstraction: a Company World Model, defined as a persistent asset-to-value state representation with transition models, explicit value functions, planning, and updating across scientific, regulatory, BD, commercial, financial, and execution constraints. We introduce a dry-lab benchmark for testing whether AI-agent organizations should mimic departments or operate around such a world model. The benchmark contains 45 retrospective public-information decision cases with strict time cutoffs, hidden outcomes, common schemas, automatic scoring, and blinded pairwise judging. We compare human-org-mimic, stronger human-org-mimic-plus, AI-native asset-centric, and AI-native value-conversion architectures. The value-conversion architecture is a prompt-level approximation of a Company World Model: a Live Asset Value Record updated by Deal, Approval, Revenue, and Investment Arbiter loops. Under a success function defined by external BD, regulatory approval and launch, and revenue discipline, it achieved the highest automatic value-conversion score and was strongly preferred over the original baselines by value-specific blinded judges. Stress tests narrowed the claim: a stronger human baseline remained competitive, and a neutral judge did not show robust value-conversion dominance. Codex-only mechanistic ablations suggest that Revenue Room, Deal Room, and Approval Room carry useful work under the target objective. The central finding is objective-sensitive: departments may remain useful governance views, but the core AI-native operating primitive should be a shared, predictive asset-to-value state rather than a static human org chart. The study is dry-lab only and does not establish real-world drug success, clinical benefit, or revenue prediction accuracy.