CINCINNATI--(BUSINESS WIRE)--The innovative biotechnology company known as Microbial Robotics has become Open Therapeutics™ LLC, according to CEO Jerome Hamilton of the Cincinnati-based global biotechnology firm. The name was changed to reflect its open source technology, which will be supported by the website, http://opentherapeutics.org/.
“cost to develop and win marketing approval for a new drug is $2.6 billion.”
Open Therapeutics™ was organized to make medical and pharmaceutical technologies freely available with a document development engine within its crowdsourcing Open Therapeutics™ web platform. It will debut later this year. The web platform will enable researchers to develop and exploit pharma technologies, while incentivizing collaboration with global researchers. A key feature is the platform, freely open to those who wish to participate, subject to community rules, as long as researchers agree to openly share their efforts.
Microbial Robotics began its ambitious endeavor in 2015 in response to the high cost of drugs with underserved populations around the world. As reported by the Tufts University® Center for the Study of Drug Development, the “cost to develop and win marketing approval for a new drug is $2.6 billion.” Subsequently, a Deloitte® report indicated, “drugs sourced via open innovation are three times more likely to achieve late-phase clinical success versus those cultivated under an in-house, closed-model approach.”
Says Jason Barkeloo, Open Therapeutics™ founder & executive chair of the board, “Open Therapeutics™ seeks to breakdown the silos limiting scientists. By freely providing promising and proven biopharma technologies, Open Therapeutics™ can unchain the scientific community’s potential. We believe freeing researchers from the confidentiality framework promises to increase global public health and patient treatment outcomes.”
About Open Therapeutics™ LLC
Open Therapeutics™ is a seven-year-old company that curates and develops open medical, biopharma, and synthetic biology-based biotechnologies. Among the technologies being freely opened to the global community are essential proteins for developing antibiotic and anticancer therapeutics, immunotherapy and oncolytics, and biomarker inducers. The Company is headquartered in Cincinnati, Ohio with laboratory operations in Covington, Kentucky, USA, and Madrid, Spain via its strategic partner, Bacmine SL (www.bacmine.com).
Phone/Skype Interviews with CEO Jerome Hamilton Available Upon Request
for Open Therapeutics™ LLC
Maris Somerville, 310-701-6872
maris@somervillepr.com
or
Susan
Bejeckian, 626-232-3040
sbejeckian@gmail.com
