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All of us need new, improved medicines. Medication that present incremental advantages (typically referred to as “me too” medication) are good, however really revolutionary therapies are even higher. Nonetheless, how does one separate how “novel” a therapy is? Is there a solution to quantify this?
Actually there may be. A method to do that relies on the therapy’s molecular construction. As an illustration, the Tanimoto distance measures the the fraction of chemical options which might be shared by the 2 chemical compounds. Nikolova et al. 2004 summarizes this method which is calculated as follows:
Krieger, Li and Papanikolau 2022 use this methodology to quantify how drug growth for novel medication has way more constructive informational spillovers on the drug growth than incremental medication. This paper gives an instance of an software of Tanimoto distance beneath.
Utilizing the Tanimoto distance as a measure of novelty, the authors discover the next:
…novel drug candidates are much less prone to receive FDA approval however are primarily based on extra invaluable patents. Per a easy mannequin of expensive exterior finance, we present {that a} constructive shock to companies’ internet price leads companies to develop extra novel medication. This implies that even massive companies could behave as if they’re danger averse, decreasing their willingness to funding in doubtlessly invaluable radical innovation.
You may learn the total paper right here.
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