NEW YORK (GenomeWeb News) – Science Foundation Arizona has awarded $9 million to the Critical Path Institute to support the institute’s mission to develop new tests that could help accelerate the process of getting new drugs and therapies to the public, C-Path said on Wednesday.
A Tucson-based non-profit, C-Path aims to lower the high failure rate of new drugs by “improving the current slow and unreliable process, thereby saving lives and billions of dollars each year,” according to a statement.
Specifically, the institute has a goal of improving the success rate at which new medicines that make it to human trials reach the market. C-Path said this success rate is currently 5 percent and that it hopes to move that to 95 percent. The institute also wants to speed that process up so that it takes less than three years.
The institute was formed in 2005 as one prong of the US Food and Drug Administration’s Critical Path Initiative.
The Science Foundation Arizona is a public-private partnership created in 2006 to support a range of technology development programs in Arizona.
“In the United States alone, the annual cost of caring for patients with just one disease, Alzheimer’s, is $150 billion, a staggering figure that is projected to reach $1 trillion, or 8 percent of today’s total US economy,” C-Path CEO and President Raymond Woosley said in a statement. “Without breakthroughs, we face a medical tsunami of healthcare costs posing immense economic and social threats."
C-Path said it has struck partnerships with a number of drug companies, including those with presences in Arizona, such as Roche’s Ventana Medical Systems, Sanofi-Aventis, and Merck affiliate High Throughput Genomics.