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BridgeBio is building an outsider moat in drug development. Instead of relying on a core technology, the company has a private equity firm specializing in drug development and clinical programs embedded in it. BridgeBio’s advantages are the scale they can offer an individual drug program and the discipline to know which ones are worthwhile to underwrite. If the business can maintain its independence (an extremely rare event in biopharma), then overtime, each iterative program will improve the odds of success for the next one. BridgeBio has the potential to become a Danaher or Constellation type of business model in drug development. The records of these companies suggest BridgeBio could raise the bar on the efficiency in the drug industry — increasing productivity and bringing treatments to more patients.
Key findings
- A way to make drug development determinate is to focus on fields or classes of medicine that have had high amounts of research financed by other people and a rich history, and use this record to become a superforecaster (i.e. curation and management)…
