The word of the day is ‘equivalar’
And it comes to us from EQRx, a biotech startup using the occasion of JPM to announce itself to the world. The plan at EQRx is not to edit the human genome, reprogram immune cells, or otherwise test the limits of scientific possibility. The idea is to bust pharma monopolies with cheap alternatives to blockbuster drugs, a proposition that’s arguably more radical than reinventing biology.
As STAT’s Matthew Herper reports, that’s where the word equivalar comes in. Alexis Borisy, the former Third Rock Ventures partner who founded EQRx, wants to quickly invent drugs that are similar to existing blockbusters, equally effective, and, most important, less expensive. Thanks to a cadre of top tech and biotech investors, Borisy has $200 million to prove it out.
“I’ve spent the last 25 years creating breakthrough new medicines,” he said. “We’ve ratcheted up the prices on them ever higher, frankly, because we can. And the reality is we can create a lot of these great new medicines, and turn that into a viable business charging a lot less for them. This is not fantasy world. This is something that can be done.”
Read more.
As STAT’s Matthew Herper reports, that’s where the word equivalar comes in. Alexis Borisy, the former Third Rock Ventures partner who founded EQRx, wants to quickly invent drugs that are similar to existing blockbusters, equally effective, and, most important, less expensive. Thanks to a cadre of top tech and biotech investors, Borisy has $200 million to prove it out.
“I’ve spent the last 25 years creating breakthrough new medicines,” he said. “We’ve ratcheted up the prices on them ever higher, frankly, because we can. And the reality is we can create a lot of these great new medicines, and turn that into a viable business charging a lot less for them. This is not fantasy world. This is something that can be done.”
Read more.
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