5 Up and Coming Biopharma Companies in 2021 | In 2018, startup pharmaceutical companies originated and patented 40% of the new drugs. This shows that such entities are not only taking part in the market, they are also influencing the industry and pressuring the big biopharma companies.
Having new startups in the market is always interesting. It is much more beneficial if such organizations can compete with leading organizations.
2021 has been the year dominated by pharmaceutical companies. The current pandemic means that every person is looking at what these organizations have been doing.
Most people have been expecting traditional pharmaceutical companies to standout. However, biopharma trends show that new biopharmaceutical companies have been leading the trends. They have been at the center of most of the drugs that people are currently using.
Here are some of the top 5 biopharma startups that have been holding tight to the market.
Invitae is an emerging biopharma genetic information startup that started its operations in 2010. The purpose of the organization is to incorporate genetics into regular medical practice. This will help in enhancing healthcare services in the world.
According to the founder, healthcare does not incorporate genetic approaches. This is the reason why it has been tough to solve some healthcare issues. Having such innovations is likely to bring significant changes in the healthcare industry.
Invitae is specifically interested in hereditary disorders. These are some of the healthcare issues that continue to affect millions of people in the world today. With genetic tests, such issues will be treatable.
How Is Invitae Different?
The standout operational aspect of Invitae is aggregating genetic tests into a single service. The organization aims to provide quality services in genetic testing. Quick turnaround is another essential aspect that the company wants to incorporate in its operations.
Genetic tests have always been costly. The company wants to make these tests cheap and readily available. Through the company, clinicians can access genetic tests without barriers.
Finances and Employees
The current estimations indicate that the company has been getting $147.7M annually. This is a significant revenue achievement that most startup companies are struggling to get. With the current trends in the healthcare sector, these figures will continue to grow.
The company has more than 1,320 employees. Last year, the company increased its workers by 56% to handle increased services.
The growth of the organization indicates that new positions will continue to open at the startup.
- Roivant Sciences
Under Vivek Ramaswamy, Roivant Sciences is another new biopharma making some significant deals in the industry. The company operates in a diversified industry where its focus is to look for various disease medicines. Roivant has been commercializing most of its innovations.
Roivant has succeeded in having very many subsidiaries in the medical industry. Each subsidiary operates independently in the pharmaceutical sector. However, all these subsidiaries have access to technology and resources provided by the parent company.
Having multiple branches is a success story for the startup. It can efficiently operate in different segments of the industry. This brings about medical diversification, which is not a common practice.
How Is Roivant Sciences Different?
With multiple branches, Roivant Sciences is able to achieve what other medical startups cannot achieve. The company can conduct medical research in different medical areas. To date, the company has been key in achieving considerable success in different healthcare sectors.
One of the areas of success is developing gene therapies for hematological diseases. This is done by Aruvant Sciences, a subsidiary of the company. Through Enzyvant, Roivant Sciences has been central in developing a treatment for rare pediatric diseases.
Finances and Employees
As a diversified organization, it is very hard to determine the actual revenues for Roivant Sciences. However, current estimates show that the company has been getting between $100M and $500M annually. Its revenues are highly affected by the huge financial deals that the company has signed recently.
Roivant Sciences has very many branches around the world. In each subsidiary, the company has more than one hundred employees. This puts its actual number of workers above 500 around the world.
- Mirati Therapeutics
Mirati Therapeutics is another new entrant in the pharmaceutical industry. The company develops immune-oncology therapies used for treating cancer. It is one of the new biopharmaceutical companies that are specializing in cancer treatment.
Researching has been at the center of Mirati Operations. The organization aims to target the genetic drivers of cancer. The company has been leveraging on one of the leading oncology teams in the world.
Treating cancer is always a challenge to most pharmacy pharmaceutical companies. Most of the organizations have invested in this sector without tangible results. However, Mirati Therapeutics seems to have some creative clinical developments ready for testing.
How Is Mirati Therapeutics Different?
Working in cancer treatment drugs is a major point of difference for this organization. Most of the companies are currently dealing with infectious diseases. However, the entity has chosen the hard way of working on cancer treatment.
Oncology testing is another standout aspect. The new cancer treatment approach is yet to be used in other companies to develop tumor-related drugs. With accelerated development in clinical trials, the company might have cancer drugs in the market soon.
Finances and Employees
Since its inception, Mirati Therapeutics has received a total of $234.3M in funding. Out of this, the company has been able to generate $ 12.9M annual revenues in the last few years. There has been consistent growth in annual revenues in the course of the company’s operations.
Mirati Therapeutics has more than 160 employees working at the company. Its number of workers has been growing steadily in the last few years due to its consistent growth.
- QED Therapeutics
QED Therapeutics is highly known for specializing in precision medicine. Specifically, the company specializes in drugs that will deal with FGFR-driven disorders. The company believes this is an area of interest in the medical industry that needs attention.
Over the years, QED Therapeutics has been able to make some standout discoveries in this area. As it stands, the company has already discovered some possible candidates for treating FGFR-driven disorders. It stands out as the first company to make discoveries in this area.
QED Therapeutics has already introduced infigratinib, which is the leading inhibitor for FGFR disorders. The inhibitor has already reached clinical trials but is yet to be released for commercialization.
How Is QED Therapeutics Different?
Using precision medicine is obviously a standout feature for the company. This is something that is only done by some of the leading organizations in the medical sector. However, QED Therapeutics, as a startup, has been able to reach clinical trial levels.
QED Therapeutics is currently investigating whether its new drug can be used in treating achondroplasia. This is another FGFR-driven disorder yet to find a reliable cure.
Finances and Employees
In 2018, reports indicate that QED Therapeutics received funding of around $65M. A significant proportion of the funding was directed to the operational demands of the startup. The company’s recent financial reports indicate that it has been recording annual revenues of $9.9M every year.
However, QED Therapeutics is not the largest employer in the medical industry. The company has around 64 employees. This is a huge number of workers in a startup entity.
- Relay Therapeutics
Relay Therapeutics is currently focused on building the first drug discovery platform. The new platform will be focused on protein motion, which is the basis for all drugs. The company hopes to make transformative drugs that will make a difference among patients.
Protein motion has never been used as the center for drug discovery. Relay Therapeutics is gambling in this new approach and believes it will be a game-changer in the pharma sector. Drugs under new technology are expected to have a higher potential than the drugs currently in the market.
How Is Relay Therapeutics Different?
Relay Therapeutics is not looking to approach the market through traditional techniques. The company is making a new approach to drug discovery. With success, Relay Therapeutics will usher in a new method of developing drugs in the world.
Relay Therapeutics has one of the most experienced research teams. The team is bold and passionate about the new approach to drug development and testing. That company hopes to use its edge in the industry to come up with some innovative drugs that will help patients.
Finances and Employees
Relay Therapeutics has been working hard to get the necessary finances to support its protein motion technology. As it stands, the company has raised $120M. Third Rock Ventures and Alexandria Venture Investments are some of the companies that have invested in the company.
Relay Therapeutics is currently recording $22M in revenue per year. Using a creative and collaborative work environment, the company has attracted more than 140 employees.
The Growth of Biopharma Startups
In the last two years, the growth of biopharma startups has been unprecedented. The number of these companies that have joined the market continues to increase every day.
The current trends in the healthcare industry are not encouraging. As such, the number of startup pharmaceuticals will continue to grow.
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