What Others Can Learn from COI’s Approach to Cost-Efficient Drug Development – The Bio Report with Danny Levine
The Bio Report chats with COI President and CEO, Jay Lichter, Ph.D., to discuss COI’s unique “incubator” approach to discovering and developing new therapeutics.
With the increasing costs of drug development, the low efficiency of R&D, combined with the risks associated with investing in translational research, investors, and drug makers have become increasingly open to new models of innovation.
When asked how COI was initiated, Jay explained, “I was running three companies as CEO and I decided to put them in the same space. It was very informal. That grew to seven or eight companies and, all of a sudden, we have infrastructure and a core group of people spread across these companies. It was really capital efficient. When we did the GSK deal, we took this informal environment and turned it into something more formal. That’s when we really gave birth to COI.”
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