Despite exciting breakthroughs in science and technology over the last couple of decades, the pharmaceutical industry continues to struggle with high drug-attrition rates, with only an estimated 1 in 1,000 preclinical drug candidates actually reaching the market. Manufacturers facing an average of 12.8 years and a cost of approximately $2.6 billion to complete their drug development journey must adopt risk mitigation strategies that can move their ideas beyond pharma’s “valley of death,” in order to not only reduce investments in time and resources but also deliver innovative new therapies to the patients who need them.
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