Borisy newco aims to offer ‘radically’ cheaper drugs by disrupting biopharma’s traditional model
EQRx launches with $200M, plans to offer cheaper, equally good next-in-class and novel drugs
Alexis Borisy has launched EQRx to disrupt the biopharma world by developing and launching innovative therapies at “radically lower” prices than commercial competitors. With its first drug expected to hit the market in five years, the company will need to partner with other stakeholders in the healthcare system to make the model successful. It expects to announce at least one collaboration in this vein in the near future.
EQRx Inc. debuted with $200 million in series A funding from GV, Arch Venture Partners, Andreessen Horowitz, Casdin Capital, Section 32, Nextech and Arboretum Ventures. In addition to Borisy, who is chairman and CEO, the start-up’s co-founders include Melanie Nallicheri, who is president and COO; Roche (SIX:ROG; OTCQX:RHHBY) veteran Sandra Horning; and Memorial Sloan Kettering