All chips on immuno-oncology is not a good gamble

Guest commentary: Immuno-oncology investments taking over cancer R&D is not healthy or sustainable

While first-generation immuno-oncology therapies are only the tip of the iceberg of what immune reprogramming promises to do for patients, the massive investment in the space has entered bubble territory, with the inflating number of development candidates and revenue projections far outstripping what the market will bear. We expect the bubble to burst.

For pharmaceutical companies, oncology is a fast growing, high margin market segment, and over the past decade, it has become the industry’s golden goose.

Undoubtedly, the most significant breakthrough in the treatment of cancer in the past few decades has been the development of immuno-oncology therapies that activate the body’s immune system to kill cancer cells, such as checkpoint inhibitors and CAR T cells.

The first PD-1 inhibitors to hit the

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