The 123 Innovation Initiative is best suited for the following entities:
- Start-up companies seeking to obtain early clinical data without diluting their equity
- Academic programmes that need clinical data for creating spin-off businesses or partnerships with pharma companies
- Biotech companies that need to address specific questions without diluting their equity
- Programmes that have a promising approach but need to refocus after encountering initial roadblocks
STEP 1: Question based drug development programme
A question-based drug development programme will be created to determine the critical questions to be addressed. In consultation with the Initiative, the critical clinical tests will be determined, and tailored clinical experiments will be created in collaboration with the company.
STEP 2: Offer venture loans
After reaching agreement with the company regarding the most effective, informative, and value generating clinical studies of compounds in the preclinical or early clinical stages, a venture loan will be offered. The questions developed in Step 1 will facilitate the creation of micro-milestones and associated go/no-go criteria and selection of the most appropriate methodology.
STEP 3: Start micromilestones program
After each milestone, a go/no-go decision is made regarding whether to continue as planned or to make any necessary adjustments. The tailored clinical experiments help achieve the future profiling demanded by subsequent investors such as large pharma companies or private equity funds.