The Business of RNAi Therapeutics in 2012
In its decade in existence, commercial RNA interference (RNAi) therapeutics development has seen great financial volatility. The causes of this volatility are broadly shared with what has been observed on other technology frontiers such as gene therapy in the case of drug development, with the amplitude of the volatility magnified or moderated by macroeconomic factors. Volatility poses challenges especially for financially exposed small biotechnology companies, the core translational force of the industry, to establish the platform and develop drugs in a process that takes at least 15 years to bear fruits in the form of approved drugs and depends on the complex interactions between a diverse set of investors. Even small disruptions can have big repercussions leading to both euphoria and capitulation which can be equally damaging to the long-term health of a sector.
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