Highlights
- EarlyBirds’ ecosystem is a global, award-winning platform that provides an easy and cost-effective way to pharma companies to undertake R&D tasks
- The company has a creative product -- Innovation Maps -- which understands core themes of organisations and furthers collaboration
- Amid growing concerns like labour crunch and heightened input costs, EarlyBirds is a result-driven partner for pharmaceutical companies, big or small
The challenges faced by the global pharmaceutical industry are immense in that any new drug research and development exercise -- regardless of whether it is eventually a success or a failure -- is extremely cost-intensive. EarlyBirds -- a global ecosystem with an ingenious solution 'innovation ecosystem maps' -- is helping the pharma industry forge strategic research partnerships and reduce the time and costs involved in R&D.
Jeff Penrose, the co-founder of EarlyBirds, has commented on some of the concerns like labour crunch and supply chain bottlenecks that have troubled the pharmaceutical industry of late. The solution could be EarlyBirds' innovation maps and a large pool of innovators. Let us find out more.
Pharmaceutical industry and challenges
The Frederick National Laboratory for Cancer Research, a US government backed R&D centre, has reported that pharmaceutical companies spend an average of 10 to 15 years on the process of developing and launching a new drug. The cost of this process is usually as high as billions of dollars, which more precisely depends on how complex the process was. And then, clinical failures -- the majority because of reasons like bad side effects and low efficacy -- aggravate concerns.
EarlyBirds helps improve these “demoralising stats” of the pharma industry by giving executives looking for disruptive innovations in the sector an easy way to connect with global innovators and fill capability gaps.
Image source: Pixabay.com; Data source: EarlyBirds website
Innovation maps
EarlyBirds has a creative and result-oriented solution to the wide-ranging concerns of pharmaceutical leaders. The company solves problems with respect to research and development of new drug formulations, thanks to its innovation maps that clearly define core themes and sub-themes and fill any gaps by populating the blank spaces with global pharmaceutical sector innovators that can be early-stage startups or mid-level companies or mature enterprises. These innovators have the capability to provide services in a time bound and cost-effective manner.
The idea is centered on modernizing and accelerating the R&D activities of pharma companies. EarlyBirds lays a robust foundation by understanding the key components that any organisation wants to concentrate on. This exercise produces innovation maps based on technical and non-technical themes, with a roadmap to attaining the desired results.
Kris Poria, the co-founder of EarlyBirds, asserts that EarlyBirds platform approaches any problem from a "cross-disciplinary angle" to produce breakthrough solutions for the pharma sector with capacity of mass production. While innovators in the life sciences and pharma domain can join the ecosystem by visiting the 'Innovator' section of EarlyBirds’ official website, pharma companies can avail services using the 'Early Adopter' section.