MedCity News June 10, 2024
How academia and biotech can team up to bring impactful new drug therapies to patients faster
Few healthcare endeavors are more daunting or resource intensive than the development of a new drug therapy. On average, it takes 10 to 12 years and millions of dollars for a new drug to be developed and approved for prescription. But resourceful, early-stage biotech companies are finding that both the drug development timeline and price tag can be significantly reduced through purposeful collaboration with like-minded partners. Collaboration isn’t just a smart business move; in today’s climate, it is imperative for business survival. Biotech bankruptcies hit a 10-year peak in 2023, and companies of all sizes are increasingly aware of the impact that collaborative partnering...
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