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What it Takes to Build a Biotech Company - Dr James and Dr Howard
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This podcast episode delves into the intricate world of biotech, focusing on the financial challenges and trends shaping the industry with Dr. James and Dr. Howard, both Oncology Drug Development Physicians.
We discuss the staggering costs of bringing a drug to the market, influenced heavily by the COVID-19 pandemic, which marked a new era for biotech investment and innovation.
Highlighting the transition from small biotech firms to billion-dollar entities almost overnight, the episode explores the subsequent 'golden age' of investment, its decline, and the hurdles small biotech companies face in securing funding amidst a tougher financial landscape marked by increased inflation and interest rates.
The conversation also touches on the funding strategy, the crucial role of venture capital, and the lengthy drug development timeline.
Additionally, Dr James and Dr Howard examine the potential negative impacts on patient care resulting from the industry's consolidation trend, where large pharmaceutical companies acquire smaller biotechs, potentially slowing down innovation.
The episode concludes with discussions on the unique challenges and opportunities within the biotech industry in Dubai, suggesting it as a potential biotech hub due to its supportive government, diverse population, and favorable business environment.
00:00 The Cost of Bringing a Drug to Market: A Deep Dive
00:45 The Biotech Boom: From COVID-19 to Financial Realities
02:36 Venture Capital and the Biotech Funding Dilemma
03:37 The Long Road to Drug Development: Patience and Innovation
05:16 The Impact of Big Pharma on Small Biotech Firms
07:28 Navigating the Complexities of Biotech Innovation
14:44 The Theranos Scandal: A Cautionary Tale in Biotech
25:19 Dubai's Potential as a Biotech Hub: Opportunities and Challenges
31:39 Funding Biotech in Emerging Ecosystems: The UAE Model
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