In this Expert View column, Abbas Kazimi, chief business officer of Nimbus Therapeutics, discusses the advantages of a “failing fast” business strategy and the infrastructures and protocols that must be in place to support rapid, objective decision-making and portfolio management.
Drug development is inherently a high-risk endeavor where success depends on the precise alignment of multiple factors – from target selection and trial design to regulatory strategy and sufficient capitalization. If a company faces challenges in any of these areas that cannot be rapidly addressed, development programs often fail. With approximately 90% of drugs never reaching approval 1, biotech companies must master the art of objective portfolio management to thrive in this challenging landscape.
The concept of “failing fast” – while counterintuitive to many – has emerged as a crucial strategy for sustainable success in biotech. This approach encourages companies to test ideas early (the ‘killer experiment’) and often while fostering a culture that learns from failure rather than fears it. The goal is to identify problems quickly and pivot decisively, preserving valuable time and capital for more promising opportunities.
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