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More important than ever, but there’s still a way to go.
Just the other week, it was announced that Illumina had acquired GRAIL (subject to approval from the regulators), a company it formed in 2016 and spun out. Illumina retained a 12% stake in the business and has decided the time is now right to bring it back into the fold. History repeats itself in that the deal took place (as with most diagnostics) at a point at which the technology was in market, or at least market ready. The GRAIL, Galleri diagnostic test, is available as a CLIA waived test to detect 50 different cancers before symptoms appear. The test is yet to be FDA approved or reimbursed and currently costs just under $1000, but this milestone achievement, off the back of more than $2B in investment and a research effort that covered more than 100,000 people, was sufficient to make Illumina want to pay around $8B to reacquire the business.
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Getting your opportunity noticed by a large pharmaceutical company is difficult, as they are continually bombarded by partnering opportunities daily. PharmaVentures has developed a unique expertise in getting their clients’ opportunities through the complex processes of decision making in the pharmaceutical companies and ultimately in front of their key decision makers, but there is more to it than that.
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NSCLC is one of the most active areas of innovation in Oncology, and recent consensus estimates indicate that an additional $20BN of sales could be added in the indication over the next few years.
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In the Spring of 2020, during the early days of the COVID-19 pandemic when there were real fears of a global downturn, PharmaVentures predicted that despite the forthcoming challenges, licensing and partnering would remain steady during 2020. With the year behind us, we are revisiting our deal closing predictions to see if they have held true.
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The last few years have seen a rise in nationalism and populism across the world. In 2016, the US voted in the populist Donald Trump on his promise to ‘Make America Great Again’. In 2018, Hungary re-elected its national conservative prime minister Viktor Orbán with the slogan ‘ For us, Hungary is first’. And in 2019, India re-elected its Hindu nationalist ruler, Nehendra Modi, and the UK elected (with a large majority) the Eurosceptic Boris Johnson on his pledge to ‘Get Brexit Done’. Other nationalist world leaders retaining their support base include Binyamin Netanyahu in Israel, and Rodrigo Duerte in the Philippines.
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Even though medical diagnosis can be traced back to ancient Egypt in the 26th century BC (Edwin Smith Papyrus by Imhotep), in vitro diagnostics (IVD) as a field really started to take shape from late 20th century. Significant investments and research have been funnelled into early diagnosis of cancer with new products including next-generation sequencing, liquid biopsy and companion diagnostics, whilst payers are increasingly demanding biomarker stratification to justify the use of expensive drugs. Time and time again, the healthcare industry is buzzing with new ideas on how to use next generation diagnostics to achieve “smart healthcare,” but to date, this has not been realised. Yet, the unmet needs remain with ballooning healthcare cost, aging society and changes in disease trends.
