Here are some of the reasons...
1. Currently, one woman is diagnosed with breast cancer every 20 seconds somewhere in the world and 3 women die every 5 minutes worldwide. Cancer now claims more lives than even heart disease, which used to be the primary reason for death. To make matters worse, the incidence of cancer is estimated to rise by 50% in the next 15 years.
Breast and prostate cancers are the most common types of cancer found in North America the second most common cause of death, trailing closely behind lung cancer.
2. There is a shortage of existing anticancer drugs that are effective, potent and safe. Unfortunately, the incidence of cancer outpaces a cure, challenging the chances of survival.
3. Many large pharmaceutical companies are changing the way they do business. Rather then R&D of new cancer drugs being a sole focus of internal operations they are relying on smaller companies to invest deeply into problems. The model is to acquire smaller biotechnology companies that have crossed the preclinical development stage.
4. Cancer drug targets have an extremely high return on investment given that the pharmaceutical companies stand to make huge profits as well. For example, the drug Herceptin, which is a product of Roche (subsidiary Genentech), shows total sales of $7.7B USD.
5. Given that Triple Negative Breast Cancer has no targeted treatment, the market opportunity is huge. Another big factor is that this model created by Phoenix Molecular Designs can be applied to several other kinds of cancer as well.
6. The Phoenix Molecular Designs team has cumulatively well over 100 years of experience and expertise. We are dedicated, and above all, passionate about the cause.