Where Will the New Disease Treatments Come From a Decade From Now?
In the last two years, biotechnology companies, especially the smaller ones, have gone through a dramatic restructuring of priorities and focus. Like so many industries which have prioritized their businesses to the immediate, the cash efficient, the safe, the low risk, and the cash conserving, biotech has done the same. Some biotech companies have done it out of necessity, and some have done it out of fiscal prudence, but almost all biotech companies have reduced or eliminated early stage research, early stage development programs—essentially all efforts other than their latest stage development efforts. Research labs have shrunk considerably or been closed, and all development programs other than the key lead program have been shut down or suspended. About 10 years from now, roughly the time it takes to develop a new drug, it is likely that the medical community will be lamenting the fact there is a dearth of new medicines to treat the range of diseases we will be grappling with. Can
