Drug Discovery, Research and Development

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I was at dinner with a former colleague, discussing new business opportunities.  During the course of the conversation, it became apparent that the complexities of drug research and development are not understood in many quarters.  We were discussing a new potential drug.  Without revealing specific details, a small team owns the rights to a molecule.  In trying to finance the development of drug – taking it through all phases in the clinical development process – the partners approached several large pharmaceutical companies.