CrossGen was founded by a former academic from the University of Nottingham to exploit genomics technology developed by him and colleagues. The Company mission is to develop high-throughput genomics technologies that will enable the exploitation of genetic information for biomedical applications. CrossGen aims to improve the predictive accuracy of animal models to humans in the development of pharmaceuticals; in so doing his should reduce the attrition rate of drug candidates failing during clinical trials and lead to improvements with regard to both speed and cost of drug development.
The pharmaceutical industry is under increasing pressure because the companies have failed to increase the rate of approval for new drugs over the last decade, despite channelling around 20% of sales revenue into R&D for drug discovery. The mean capitalised R&D costs for each approved new drug has been estimated to be $802million, of which $335 million represents pre-clinical development costs. Despite this massive investment, it is estimated that only 1 out of 5,000 screened compounds is approved as a new medicine.
Most of this attrition occurs in the screening and pre-clinical development phases, but only 1 in 11 compounds entered into clinical trials actually gets approved by the regulatory authorities. The major causes of attrition in the clinic are lack of efficacy (30% of failures) and toxicology and clinical safety (a further 30%).
Tools developed using the CrossGen patented technology aim to reduce some of the attrition observed during the drug development process. Ours is a multidisciplinary approach based on collaborations with industry partners.