Posted on March 27th, 2018 by Christy J. Wilson in Pharma R&D
As big pharmaceutical companies struggle to get enough value for their R&D dollars in today’s challenging innovation landscape, small pharmas and biotech startups have come to play a crucial role in the drug discovery process. Boasting valuable technical expertise, lower costs, less cumbersome organizational structures and the ability to hyper-focus on one (or a few) specific areas that show promise, these companies have demonstrated the ability to make incredible scientific advances.
However, startups also face their own unique challenges, whether it’s the difficulty of gaining industry exposure or the inability to access important information and tools due to lack of funds. In some cases, what they need most is something akin to “mentorship” from large pharma firms and industry organizations. In an article in STAT, Steve Arlington of The Pistoia Alliance says, “The pharmaceutical industry can seem like a daunting and sometimes closed arena to enter, with the same names and faces cropping up time and again. Having an experienced mentor make connections is invaluable for startups. It’s this type of symbiosis that will be essential for future breakthroughs.”
Eager to do its own part in supporting up-and-comers, Elsevier launched The Hive in 2016. This initiative is dedicated to helping some of the most innovative startups by promoting their work and offering them access to Elsevier’s sophisticated research solutions. Four companies participated in the initial phase, and now six new startups are being welcomed into the program this year. In addition to the other benefits mentioned, Elsevier hopes to help these new entrants “close the gap between concept and commercialization” as they participate in The Hive.
Check out this feature article in Drug Discovery News to learn more about the six new companies, which are all working in cutting-edge areas, from AI to immunotherapy.
All opinions shared in this post are the author’s own.
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