In drug development, where you have a very long sequence of filters searching for molecules that treat diseases, the most high-leverage way to reduce R&D costs per *successful* drug is to increase the predictive validity of the early screening steps.
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Yet, "better drug discovery platforms" are perceived (at least by traditional pharma and clinical-stage biotech investors) as low-value, risky, and unserious. Pharma business development execs I've talked to have said that their companies don't license new screening tech at all!
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Unless I'm misinformed, this isn't a case where novel screening methods are mistrusted because they have a poor track record.
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Wouldn't another useful mechanism be to reduce the cost of later stages?
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yes, but that's more difficult, because it's partly regulatory and partly intertwined with the high cost of treating patients; one biotech company can't unilaterally reduce costs across the medical system before bringing a drug through trials!
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