The AI x TechBio Bingo Card: A framework for what "good" looks like for startups
The article discusses the challenges and potential of AI in drug discovery. It highlights the high costs and low success rates of traditional drug development, while emphasizing how AI can improve these odds. The authors introduce the AI TechBio Bingo card as a framework for evaluating the effectiveness of TechBio startups in this space.
- ▪Drug discovery is a high-risk investment with a 90% failure rate in clinical trials.
- ▪AI has shown promise in improving success rates in early clinical trials, but struggles in later phases.
- ▪The AI TechBio Bingo card serves as a checklist for evaluating the capabilities of TechBio companies.
Opening excerpt (first ~120 words) tap to expand
Let’s say you’re the type of person who likes to bet. If you had a 2% chance of getting $200 billion (spread over 20 years), would you take it? The catch is that you’ll have to spend $2 billion or so to place the bet, and you’ll know if you won the bet only at the end of a 10 year period. Oh, and if the financial investment wasn’t daunting enough, millions of lives are at stake if you don’t win. That’s what drug discovery looks like today. The probability of success is low (90% of drugs fail to make it through clinical trials), the costs are incredibly high ($2 billion for a drug), and the entire process takes a decade. Even if the drug is commercialised, c.55% of approved drugs don’t make enough money to recover their development costs.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at MMC.
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