Flexion Exploits Big Pharma as Discovery Supplier
Big Pharma, unable to exploit its own research productivity, is increasingly seeing itself as a supplier of discovery assets. That's bad news for discovery-based biotech, but good news for companies with a talent for faster, more predictable development capabilities. Since its formation in the fall of 2007, Flexion Therapeutics has apparently had no trouble getting Big Pharmas to let them review their shelved compounds, 130 or so of them from eight to 10 companies. Flexion, built around Lilly's fast-to-proof-of-concept strategy, is attempting to take advantage of the trend; it's in-licensed five products from three Big Pharmas.
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Flexion Therapeutics had the pedigree, determination, and corporate connections to source and speed to clinical proof-of-concept its in-licensed pharma assets, and it planned to build a business around getting paid to do so. But a funny thing happened on the way to the bank.
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