IMIHGOM’s Business Development team leverages our large network of contacts and knowledge of the market landscape to introduce our portfolio partners to drug discovery and drug development programs at life science companies. We work closely with you – as a virtual extension of your Business Development team – to develop a customized and tailored business development strategy. With this strategy, we identify and develop new B2B opportunities faster, better, and cheaper than you could do yourself.
The cost of developing a new drug has risen substantially in the last few years. Current estimates put the price of developing a new drug at more than $2.5billion and 10-plus years, from discovery to marketing approval. Attrition is a key challenge for pharma/biotech companies, with up to 90% of all candidate molecules failing to make it to market. The quoted $2.5billion figure accounts for these failures, as well as the opportunity cost of investing time and money on them.
The challenge for pharma/biotech companies is to increase the success rate of their drug discovery and development programmes. However, in recent years the number of identified drug targets has grown substantially, often with limited validation. This can encourage firms to pursue clinical development of more compounds with an unclear likelihood of success than they otherwise would.
- Improving the sensitivity and specificity of screening platforms at the discovery stage would help eliminate false positive and false negative hits, increasing efficiency and decreasing costs associated with drug discovery.
- Applying technology platforms that can predict/stratify responders from non-responders for a given drug candidate can save costs and time in advancing the best candidates from preclinical through clinical development
- Introducing biomarker readouts raises the likelihood of approval across clinical phases to >25%, compared to <10% when no selection biomarker is used.
There is a clear need for improved readouts that accurately interpret the diverse effects of novel candidate drugs. Combining multiple readouts as a panel of biomarkers is a potential solution. Combining data from different technologies will enable a fuller picture of the drug activity and effect in a patient. Ultimately, this will improve drug development efficiency, decrease costs, and increase the chances of successfully developing a breakthrough medicine.
IMIHGOM has a broad range of partners offering expertise and platform technologies that cover the entire life cycle of drug discovery and development. Through IMIHGOM’s Technology Services, we introduce these partners to biopharmaceutical companies with a specific unmet need. Additionally, IMIHGOM’s Venture Services facilitates licensing of drug programmes between biopharmaceutical partners. With scientific and business acumen, coupled to an excellent track record, IMIHGOM is dedicated to helping our clients to achieve success. IMIHGOM strives to Shape the Future of successful drug development.