For example, Pfizer’s Centers for Therapeutic Innovation (CTI) in Boston, New York, San Diego, and San Francisco provide academic investigators with access to important resources such as select Pfizer compound libraries, proprietary screening methods, antibody development technologies, and resources in protein science .
These resources are a necessary investment in preclinical drug research.
Pharmaceutical companies and biomedical research facilities are struggling to balance the high costs of research and development with declining funding and growth.
In response, industry and academia are working together to overcome these challenges.
Challenges faced by industry and academia Productivity and efficiency are two of the primary concerns of pharmaceutical companies today.
Burt Adelman, a hematologist affiliated with Dyax Corporation and Brigham and Women’s Hospital, identifies the triple threat facing pharmaceutical companies: significant revenue declines from the loss of patent protection for high-value products, the rising costs of research and development, and an inadequate number of new product approvals to drive growth .
“Partnering with CTI has given me the opportunity to leverage Pfizer’s resources to accelerate the research in my lab,” says Dr.
This inflated cost accumulates as a result of the expensive and time-consuming phase 2 or phase 3 trials.A low success rate or a drug’s lack of efficacy is often determined after completion of these costly trials .On top of all this, drug discovery is fundamentally tortuous – poor understanding of biological systems forces research to rely on inefficient and “clumsy Edisonian trial and error” in the preclinical stage .Scientifically, pharmaceutical companies lack one fundamental resource characteristic of academia – human capital.
Harvard Business School Professor Gary Pisano argues that although clinical trials are often deemed responsible for the lengthy drug development process, firms also spend many years developing drug candidates that could potentially enter clinical trials .Adjusted for inflation, the budget of the National Institutes of Health (NIH), the organization that provides money for and conducts medical research, has been on a ten-year decline, and the number of R01 grants – the primary grants supporting investigators’ research – is decreasing .