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That's not really where most biotechs die.

You don't move a drug into clinical trials unless you can replicate the initial studies, which is almost always "drug x cures y in animal z."

They die when they try to determine if "drug x cures y in humans."



Series A companies die there. That’s why most not largest.


"drug x cures y in humans - without causing z where bad_y - bad_z < ε".


> where bad_y - bad_z < ε".

LOL. That is often the hard part. "We cured your toe fungus. Sorry about the heart attack."




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