Finding the next blockbuster drug is the dream of many health startups. It’s what ultimately allows a firm to be successful in this niche and really make a name for itself.
But how can you find one of these medicines? What does it take?
Fortunately, this post is here to help. We look at some of the antecedents you should consider, and actions you should take to make it happen.
Mine Data Like A Detective
You’ll want to start the process by mining data like a detective and seeing whether it has left any clues. Usually, you can tell if you’re onto something by looking through what’s already out there and then using that to plot your course. Often, you’ll find nuggets of information, like case reports, that give you a hint that a specific drug might be worth developing.
Of course, you need to be careful. You want to ensure that you have the right partners and tools in place to make it happen, like BioPharmaSpec testing lab. But once that’s done, you should be ready to proceed quickly.
Look For An Unsolved Pain Point
Next, think about what unsolved pain points are out there and go after that. You want to think about what patients in the real world would want and need, and what they would be willing to pay for, given the alternatives.
Taking this approach gives your business the highest chance of succeeding. You’re much more likely to get to where you want to go if you go in this direction.
Look For The Real Mechanisms
At the same time, you want to look for the real mechanisms involved in solving the problems you want to fix. Don’t just screen molecules. Ask which pathways you need to target, and focus on multiple pathways if that is possible in your regulatory environment.
A lot of drug companies just look for new molecules and then ask how these will interact with the body’s existing pathways and, possibly, modify them. However, this approach is much more complex and challenging, and is less likely to result in the outcomes you want.
Add Machine Learning If Working With A Lot Of Data
Of course, if you don’t have a lot of useful data and want to make the most of it, then using machine learning is essential. It can help you find patterns in it that would be challenging to discover otherwise.
Many of the most profitable discoveries right now are coming from this method since it is so novel. There are so many patterns to be found that startups that look at the right data in the right way often find success.
Look For Biological Outliers
Finally, take a look around for biological outliers. For example, see if there are people in the general population who have lived a long time or have gone into spontaneous remission and ask what worked for them. Sometimes, you can reverse engineer their success in the form of a drug or an intervention.
Leave a Reply