Amidst all the recurring headlines of patients complaining about expensive medicines and treatments, EQRx, a novel biotechnology company, has comes up with plans to create novel, patent-protected drugs at affordable prices.

Reportedly, EQRx is working on re-engineering drug discovery to patient delivery process with an aim to provide a market-based solution for the issue of expensive medicines. EQRx plans to change the medical landscape by leveraging developments in technology and science in order to bring innovative therapies for chronic disorders to patients cost-effectively and more efficiently.

Speaking on the move, Alexis Borisy, Chief Executive Officer and Chairman, EQRx, said that over the past few years, the medical sector has made technological advancements and deepen the understanding of disease biology. However, these new therapeutic approaches are turning out to be way more expensive and are hindering society and people from getting equal benefits from innovation.

Borisy claims that there is a need for market-based solution in order to tackle the issue of rising drug costs. EQRx’s blue-chip team of leaders and founders are delighted to pave the way in redefining innovation and offering high-quality drugs that are affordable to patients.

According to Peter Bach, MD, Co-founder, EQRx, the process of formulating new drugs can be organized with a goal of making them more affordable for patients and society. Nowadays, people with insurance are delaying filling prescriptions due to the high cost of drugs. EQRx eyes on creating affordable new medicines that helps improve people’s health.

Incidentally, EQRx has also managed to secure $200 million from its recent series A funding round. Evidently, the fundraiser saw active participation from ARCH Venture Partners, GV, Section 32, Andreessen Horowitz (a16z) and Casdin Capital, Arboretum Ventures and Nextech.

Dr. Krishna Yeshwant, General Partner at GV, claims that EQRx’s business model would provide a practical approach for developing, rewarding and reinvesting in therapeutics innovation. The company even focuses on delivering these new treatments to a huge network of healthcare systems by the means of cheap pricing.

Source Credit: https://www.citizentribune.com/news/business/eqrx-launches-to-create-innovative-medicines-at-dramatically-lower-prices/article_05e2cf6c-3b92-58ac-a392-4856c819eb7c.html