Earlier quoted context omitted.
The thing is this kind of idea is not new. Finding new targets is hard science that needs a ton of experiments to validate that your theoretical models even work. For now this is low risk and no cost to the pharma partner, but it's a not a new model and in my experience not one that works.
"The thing is this kind of idea is not new." ...most startup companies aren't doing anything new. How many different food-delivery services has YC funded? Photo-sharing services? Video startups? AirBnB wasn't anything new in 2007, either. Dropbox was criticized because everyone knew that file sharing had been done before. This goes back to what I was saying about biotech being stodgy: the one thing the software indus…
There's a fundamental difference between trying something again where the customers weren't receptive and trying something again where the product couldn't be created. Customer reception can change over time, often quite rapidly and drastically, making previously failed business models successful (ex: Webvan -> Instacart). But nature doesn't just change (at least not over short timescales).
Moreover, as cge explains elsewhere in this thread, you cannot really iterate in biotech:
> Good ideas in software might not catch on, but good ideas in science more often than not turn out to be entirely wrong. Do a closed beta of your software, too, and while your users might not end up liking the software much, it's very unlikely that it's just going to fundamentally fail to work at all. Clinical trials can often end up that way.
Contrast this to business model-based innovation in tech, where a slight tweak can be the difference between a unicorn and a dud.