One CRO dared to question the status quo and the results are undeniable.
The development of new medication by biotech and pharmaceutical companies, from target identification to marketing approval, is a time-consuming process with timelines extending to 12 years or more. Hence why sponsors are opting to outsource research and development (R&D) of their novel drug products to contract research organizations (CROs). As of 2023, the CRO market was estimated to be worth USD 76.6 billion, with projections to reach USD 127.3 billion by 2028 – a CAGR growth rate of 10.7% in just five years.
Growth in the CRO market is attributed to multiple factors, including larger pipelines in biotech, rising costs of in-house drug development, and the need for niche expertise. A McKinsey & Company report from 2022 also found that biotech companies often rely heavily on CROs to compensate for their relative lack of infrastructure. CROs have historically functioned as auxiliaries to pharma companies, conducting the work sponsors can’t do in-house. Based on each CRO’s expertise, sponsors have sought out partners to complete different aspects or phases of their R&D. Despite many CROs adding to their service offering over the years, none can complete drug development end to end.
Unfortunately for sponsors, this gap in the CRO industry means multiple contract negotiations and numerous transfers of data, projects, and methodologies, all of which take time, are prone to error and can further prolong R&D timelines. With only 12% of drugs reaching the market, the stakes are high.
Altasciences, a forward-thinking, full-service CRO/CDMO, offers an alternative to the traditional outsourcing paradigm with its Proactive Drug Development approach. The company integrates early-phase drug development and provides sponsors with a comprehensive solution that centralizes preclinical research, clinical Phase I and II pharmacology studies, bioanalysis, formulation, and manufacturing. Scientific and operational teams from across services and phases collaborate to build and deploy the sponsor’s drug development roadmap, from discovery to clinical proof of concept, and beyond.
This holistic visibility over a client’s drug development plan is unique to Altasciences and enables them to anticipate and mitigate potential roadblocks while proactively preparing for the next phase as the current phase is ongoing, for smoother transitions. As such, Altasciences simplifies the sponsors’ drug development experience and resolves inefficiencies and challenges encountered with the traditional outsourcing model, while focusing on customer service. In doing so, Altasciences can safely accelerate a sponsor’s early drug development by up to 40%. “Sponsors are moving from their traditional large CRO ‘safety zone’ and coming to Altasciences because they value the close attention, integrated approach, and reduction in time that only we, as a one-stop solution, can provide,” explains Chris Perkin, CEO of Altasciences.
Drug development is a lengthy, rigorous process for a reason: it ensures drugs are safe and effective. Nevertheless, Altasciences presents a path to arriving at the end goal faster, without skipping any steps. This alternative to outsourcing drug development can mean bringing new, and better, medicine to more people around the world quicker – an outcome too life-changing to ignore.
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