What Does CanceRx Do?
CanceRx is a multi-faceted approach that synchronizes the speed of finance with the speed of science, transforming how cancer human clinical trials are financed.
Currently, there are tens of thousands of untested, possibly life-saving solutions to various types of cancer that simply do not have the funding to proceed with FDA-approved human clinical trials and enter the market. Traditionally, personalized cancer care clinical trials take an average of eight years, cost $250m – $1.5b to complete phase I-III human trials, and only have an average success rate of approximately 4-6%. As a result, it is hard for private equity to justify the scale and time frame associated with cancer clinical trials.
CanceRx brings together leading financial experts with global leaders in cancer science.
Most Of The Current Funding For Cancer Research Is Disproportionately Allocated To Stage 1 – Basic Research, Before Clinical Trials Begin. CanceRx Funds Stage 2 – Human Clinical Trials And Regulatory Approvals When Additional Funding Is Needed The Most.
Additionally, traditional philanthropy is often dried up by the end of the basic research phase and does not roll over into the clinical phases of cancer drug development. Furthermore, while the federal government has some interest in funding cancer clinical trials, a majority of federal dollars are granted to basic research institutions through the NIH, NCI and other arms of HHS. While the Biden administration’s Cancer Moonshot initiative is a step in the right direction, overall funding for the necessary clinical phase of cancer drug development is woefully inadequate.
CanceRx bridges the gap between basic research and FDA approval for the thousands of potentially life-saving therapies. CanceRx is a multi-tiered organization built on synchronized collaboration between finance and science. CanceRx brings together leading financial experts with global leaders in cancer science to select the most promising cancer clinical research in need of financing.
CanceRx forges collaborative agreements with the institutions and biotech companies to arrange long-term finance solutions to successfully operate the trials through the clinical phase to the FDA approval process. To offset the traditional failure rate of the potential therapies, CanceRx bundles the projects in diversified portfolios scaled to create acceptable potential success rates. To synchronize the speed of finance and the speed of science, CanceRx employs long-term bond financing rather than traditional private equity injections. This allows for science to mature and garner the best results over time.
To streamline clinical trials and improve success rates, CanceRx collaborates with global leaders in Model Informed Drug Development (MIDD) and Quantitative Systems Pharmacology (QSP) to reduce the number of necessary patients enrolled in each phase of clinical trials, thus reducing the time and cost of a potential cure to the FDA approval process.
Upon the sale of a potential drug or therapy asset, CanceRx pays back the principle on the bonds for each portfolio project as it is sold and 70% of the remaining money is recycled back into the CanceRx Foundation. This money will be used to fund further drug development, seek promising cancer clinical projects, and add more resources into the CanceRx portfolio.