Ann: Market and Technology Update, page-81

You negative people sit back and winge at the timeframe it takes to get a drug to IND and phase 2b where one could attract a PHARMA for a partnership..The costs associated with early stage development..eg Tox studies,Worldwide patents.World class Directors.etc.....$60,000,000 for 2 drugs in phase 2B is not much thanks to Diamond and the ANP Board....Article below


Candidates for a new drug to treat a disease might, theoretically, include from 5,000 to 10,000 chemical compounds. On average about 250 of these show sufficient promise for further evaluation using laboratory tests, mice and other test animals. Typically, about ten of these qualify for tests on humans.[8] A study conducted by the Tufts Center for the Study of Drug Development covering the 1980s and 1990s found that only 21.5 percent of drugs that started Phase I trials were eventually approved for marketing.[9] In the time period of 2006 to 2015, the success rate was 9.6%.[10] The high failure rates associated with pharmaceutical development are referred to as the "attrition rate" problem. Careful decision making during drug development is essential to avoid costly failures.[11] In many cases, intelligent programme and clinical trial design can prevent false negative results. Well-designed, dose-finding studies and comparisons against both a placebo and a gold-standard treatment arm play a major role in achieving reliable data.[12]