Knowledge Management Advisory Board
Selecting A Compound For Drug Development –
The Importance Of Knowledge Management
Published on January 16, 2024
Drug discovery requires complex and multi-faceted decisions to justify billion-dollar investments that will take years to realize. Such decisions are best made with input from multiple stakeholders who must communicate their views backed up with evidence and precedent, often in the face of circumstances that change daily. A formal, rigorous knowledge management system enhances this process not only by keeping scientific, medical, and commercial information organized and updated, but also by bringing insights to the forefront of the discussion.
This paper analyzes the decision-making process for one specific aspect of drug discovery – the choice to move forward with the development of a new drug compound. We lay out best practices for assembling a cross functional team and developing a concise rationale for the proposed plan, and we present a framework for future decisions that align with company goals, curating and leveraging the knowledge that is needed to maintain good decisions.
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The Knowledge Management Advisory Board will discuss the findings and implications of this work in a live webinar, including audience input and questions on Feb 12 and Feb 27, 2024.