The companion diagnostics industry is taking off. With a valuation of $790 million last year, it is expected to expand by 21% by 2018. Many companies are turning to companion diagnostics for the expansion they're experiencing in the development of personalized medicine. According to DotMed News, this test which looks at the biomarkers to measure drug therapy effectiveness. It also has the ability to monitor risk protection, disease diagnosis and monitor the treatment process. This in result brings down the approval time from development of a compound to market from 10-12 years to 5-7 years, and as a result, brings the cost of the development of a drug down to $500 million.
This fall at the Clinical Business Expo, at Partnering with Central Labs ECG and Imaging Labs and Samuel Blackman, PhD, Director, Oncology Early Clinical Development at GlaxoSmithCline.will present the presentation "Focus on Biomarkers" Develop Diagnostic tests in Conjunction with Drug Development." In this presentation, Blackman will share effective strategies for companion diagnostic development and how to align diagnostic and drug regulatory time lines. For more on this presentation and the rest of the event, download the agenda here. If you'd like to join us in Boston September 18-20, as a reader of this blog when you mention code XP1725BLOG when you register, you'll save 15% off the standard rate!
Do you think companion diagnostics will grow as fast as this article is projecting? Why or why not?
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