EQRx, a new pharmaceutical startup from biotech entrepreneur Alexis Borisy, wants to make drugs faster and cheaper than traditional pharma companies
EQRx wants to do for the pharmaceutical industry what Southwest did for air travel, says its president Melanie Nallicheri. “They didn’t reinvent the airplane,” she says, but “they reassembled the experience, lowered the cost.”
Biological targets are at the heart of drug development; they are the proteins, nucleic acids and other microscopic bits that drugs bind to in order to become activated within the body. Some pharma companies search for new biological targets and then develop drugs based on those findings. EQRx says it will cut costs and accelerate development by focusing only on diseases that already have known targets.
Borisy, a chemist turned serial biotech entrepreneur, has a proven track record. He previously cofounded Foundation Medicine, which was acquired by Roche for more than $3 billion, as well as Blueprint Medicines, which won its first FDA approvalfor a drug that treats a rare gastrointestinal cancer. He was also a cofounder of Tango Therapeutics and Relay Therapeutics, which have raised $55 million and $520 million respectively.
If the EQRx model works, the lower price tag could help drive down drug prices across the industry. “I’ve yet to see an area in terms of consumer choice that has not benefited from radical price competition,” says Jacob Sherkow, a professor of bioscience patent law at New York Law School. “We want competition in the biopharmaceutical space for the advantage of patients.”
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