There hasn’t been much to crow about for years in the world of biotech financing.
There’s no getting around the fact that new drugs still take a long time and a lot of money to develop, and they usually fail. It doesn’t fly in an instant-gratification economy, where people take extraordinary technical achievements—like, say, streaming video on your laptop—for granted.
No technology has emerged to improve drug development in the profound way that cheap cloud computing and broadband has done for high-tech startups. Until that happens, the industry is going to have to get by on channeling creative energy into new biotech business models that are better at sharing risks and rewards. And the good news is that despite the challenges with drug development, there are ideas emerging that could keep long-term, committed money flowing into life sciences innovation.
Read the full article at Xconomy
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