Wasteless Bio offers the industry innovators a cheaper way to hit milestones
~40% drug development costs incur in a pre-clinical setting
This equates to $474m in a pre-clinical setting per approved new drug
c25%, or >$110m, will statistically go to instruments and equipment (pre-clin)
A similar or larger amount will often go to consumables
Assuming 25% sourcing from Wasteless Bio at a 50% average discount vs list price
we could, theoretically, lower a total pre-clinical drug project budget by ~$30m
Small funding constraints can lead to cancelled projects and severe equity dilution
The above mentioned is why industry founders are so excited about WL Bio
https://www.cbo.gov/publication/57126
Wasteless Bio can enable significant savings for day-to-day laboratory work
Frost & Sullivan survey of lab 146 managers, $313k avg budget
<60% allocated to consumables, whereof the majority (72%)
would be considered “standard”, or commoditised products
<27% (~$80k) allocated to instruments per annum
Given a number of consumables and instrumentation would be
“standard”, feedback is that we could cover a great amount
of demand from laboratories worldwide in most settings
Theoretically we could enable labs to save ~25% of their budget
or conduct ~20% more experiments
* 2011 Data
https://www.labmanager.com/laboratory-spending-trends-17908