Dr. Ron Cohen isn’t easily deterred. The physician-turned-executive has spent decades in the biotech industry and weathered a number of setbacks – he learned in his early years at the now-defunct Advanced Tissue Sciences that to succeed, he needed resilience.
“I learned that it took hundreds of millions of dollars if not billions to develop a single drug successfully. I learned that the odds of success were approximately 10%. I learned that even if you were successful it probably was going to take you, on average, between 10 and 15 years,” he told Drug Delivery Business News. “And I thought that was great.”
The discouraging statistics on drug development didn’t dissuade Cohen in part because he saw it as a chance to try to bring cutting-edge science out of the laboratory and make it work for patients.