At BIO International Convention 2022, Precision for Medicine® hosted a talk called Insider's Look at the Variant-Rich Biobank and Partnerships. Precision for Medicine is a global CRO that supports biomarker-based R&D activities from bench to market, supplying biospecimens, lab services, and clinical trial solutions to the life sciences community.

Anuj Kalsy, Scientific Director, Precision Biospecimen Solutions and Robert Snyder, PhD, Associate Director of Genomics at Precision for Medicine discussed how Precision partners with the scientific community to support preclinical and clinical research that accelerates the advancement of precision medicine.

Anuj highlighted to the audience during the talk that drug development remains an expensive and unpredictable undertaking, with an estimated cost of $2.6 billion for a single new drug. Even with all the measures taken to mitigate risk throughout the development process, 90% of drug candidates in clinical trials fail. Many such failures are attributed to scientific reproducibility.

In a 2016 Nature survey, more than 70% of researchers reported trying and failing to reproduce another scientist's experiments. This finding was confirmed in a later survey in which 9 out of 10 researchers emphasized the problem of poor reproducibility.

To solve the issue of scientific reproducibility, the research community demands that high-quality biobanks deliver fit-for-purpose specimens.