From drug discovery to regenerative medicine, this Market Map highlights the startups transforming the drug development landscape.
On average, studies have shown that developing a new drug takes around a decade and can cost upwards of $1B.
Unfortunately, the return on this investment has been declining for pharmaceutical companies over the past few years. It has become harder to discover efficacious drugs, and novel therapy modalities — such as gene therapy — have experienced setbacks in clinical trials.
To make drug development more cost-effective and expeditious for key players in the $635B biopharmaceuticals industry — like Sanofi, Merck, and Eli Lilly — a host of companies are developing new tools and solutions. For example, Hexagon Bio is focused on finding drug candidates in nature. Xilis, on the other hand, allows preclinical drug candidates to be tested on patient-derived miniature tumors.
Using CB Insights data, we identified 82 private companies looking to transform drug development.