Two decades ago, in the high-flying 1980s, there was great hope for licensing newly described molecules, compounds, and targets as potential diagnostic and therapeutic agents. Monoclonal antibodies, novel peptides, and other small molecules produced by academic researchers were quickly acquired by major pharmaceutical companies, emerging biotechnology companies, and startup ventures. The bubble burst not only because of general economy reversals, but also due to the realization that in the game of drug development, there were very few home runs.
At the same time, a flattening of the growth curve of the National Institutes of Health's extramural research funding caused consternation among talented scientific researchers, as well as medical school and research hospital administrations. This relative loss of revenue, coupled with a general decrease in philanthropy, has stimulated research enterprises to examine the actual and potential value of their intellectual property portfolios in terms of generating new revenues.
Unfortunately, Big Pharma ...
