Cut-rate Prices Are Strategy of Biotech Startup EQRx

Alex Borisy has raised $200 million and has Peter Bach, Sandra Horning onboard
Peter Wehrwein

A well-known and respected Boston biotech entrepreneur has raised $200 million for a new startup company called EQRx whose strategy will be faster, far less expensive development of drugs and therefore lower prices.

Alexis Borisy, who co-founded Foundation Medicine and Blueprint Medicines, envisions selling new, less expensive medicines to insurers and hospital systems, according to Stat's Matthew Herper.  

Alexis Borisy

In an interview with Herper,  Borisy said he has spent 25 years creating new medicines and ratcheting up the prices on them ever higher "because we can."

"And the reality is that we can create a lot of these great medicines, and turn that into a viable business. This is not fantasy world. This is something that can be done."

FierceBiotech dubbed EQRx "JetBlue for biopharma."

Peter Bach, MD, of Memorial Sloan Kettering and Sandra Horning, the former chief medical officer of Roche, are co-founders and advisers.