OPINION: How Washington can help our moonshot against cancer become a reality
. There is no substitute for the strong protection of intellectual property that supports the innovation necessary to drive new cures and reforms that enable treatments and cures to reach patients faster. Without this commitment across the aisle for many decades, we undoubtedly would not have seen this successful innovation that has advanced oncology research and development.As we work to drive further progress, the private market is already stepping up to take on the challenge.
Most recently, we have seen the biopharmaceutical sector make deep investments in the future of oncology therapies. In 2022, Bristol Myers Squibb announced a merger with Turning Point Therapeutics, a company focused on precision oncology research. This March, Pfizer invested significantly to acquire Seagen, a company that uses an innovative technology to develop cancer therapies for patients. This breakthrough treatment with antibody-drug conjugates, or ADCs, are a class of drugs designed as a targeted therapy for treating cancer. Unlike chemotherapy, ADCs are intended to target and kill tumor cells while sparing healthy cells.
AI is assisting pathologists in determining overall tumor percentage, tumor length and categorizing areas suspicious for cancer.In mid-2022, nearly 50% of the total FDA pipeline was for new cancer treatments and 27% of new drug and biologics approvals were for cancer. These developments are already helping to spur life-saving results for those impacted by cancer and enable the life sciences industry to put more capital towards finding new and more effective treatments.
There are immediate steps Washington can take to support these efforts and make sure this progress benefits the most at-risk patients. As the administration moves forward with implementation of the Inflation Reduction Act , it should use its authority to protect the pipeline of life-saving innovations, particularly for those living with rare cancers and for cancers with significant unmet needs.
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