#409 ‒ Inside modern drug development: the science, economics, and regulatory hurdles behind bringing new medicines to patients | Lloyd Klickstein, M.D., Ph.D.

Sep 28, 2026 Episode Page ↗
Overview

The episode features Dr. Lloyd B. Klickstein, a physician-scientist and drug developer, who demystifies the complex process of modern drug development. Using bimagrumab as a case study, he explains how new medicines are discovered, engineered, tested, and brought to patients, highlighting the scientific, regulatory, and economic challenges involved.

At a Glance
11 Insights
2h 26m Duration
14 Topics
18 Concepts

Deep Dive Analysis

Lloyd Klickstein's Path to Drug Development

The Drug Discovery Process: Identifying Unmet Needs

Classes of Molecules: Small Molecules vs. Biologics

Patent Law and Drug Exclusivity

Challenges in Measuring Clinical Endpoints: Falls

Myostatin and Activin Signaling in Muscle Growth

Engineering and Screening Therapeutic Antibodies

Pre-Clinical Development: Toxicology and Pharmacokinetics

Clinical Trials Phase 1: First-in-Human Studies

Clinical Trials Phase 2: Bimagrumab for Sarcopenia and Obesity

Bimagrumab's Effects on Fat Mass and Type 2 Diabetes

The BELIEVE Study: Bimagrumab with Semaglutide

Selective mTOR Inhibition and Geroprotection

A Novel Pharmacologic Approach to Cancer Prevention

Small Molecules

Chemicals used as drugs, historically derived from dye companies, which can sometimes have off-target effects due to their less specific binding properties.

Biologics

Drugs that are not chemicals, encompassing antibodies, peptides, soluble receptors, and gene therapies, generally characterized by high specificity in their action.

Gene Therapies

A specialized category of biologicals involving the delivery of genetic material, which can be complex depending on the chosen delivery vectors and targeting strategies.

Trade Secret

A form of intellectual property where a formula or process is kept confidential indefinitely, without patent protection, making it challenging for competitors to replicate.

Composition of Matter Patent

A patent granted for the unique chemical structure of a new drug, providing a monopoly for a limited duration, typically 20 years from the filing date.

Sarcopenia

A medical condition characterized by a reduction in muscle mass accompanied by impaired muscle function, frequently observed in frail elderly individuals.

Myostatin

An endogenous protein that inhibits muscle growth; blocking its action can lead to increased muscle size, particularly evident in rodent models.

Activin A

A protein that, alongside myostatin, contributes to the inhibition of muscle growth in humans; blocking its receptor can result in an increase in muscle mass.

TGF-beta Superfamily

A large family of receptors that primarily signal through SMADS, regulating a wide array of gene programs, including those involved in muscle size control.

FC Fusion Protein

A biotechnology technique that attaches a protein to the FC region of an antibody, thereby extending its half-life in the bloodstream and facilitating its purification.

Phage Display Technology

A recombinant DNA method employed to generate and screen thousands of candidate antibodies in vitro, offering a more efficient alternative to traditional immunization techniques.

Pharmacodynamics (PD)

Refers to the effects that a drug exerts on the body, which are meticulously measured in clinical studies to evaluate its efficacy and mechanism of action.

Pharmacokinetics (PK)

The study of how a drug moves through the body, encompassing its absorption, distribution, metabolism, and elimination over time.

Good Manufacturing Process (GMP)

A stringent set of high-quality standards and comprehensive documentation required for drug manufacturing, ensuring the purity, activity, and sterility of the product.

Idiosyncratic Liver Toxicity

Unpredictable liver damage caused by a drug, a frequent reason for drug withdrawal from the market, often difficult to foresee during preclinical testing.

Cytokine Release Syndrome

A severe, acute inflammatory reaction resulting from an overactive immune response, which can sometimes be triggered by certain therapeutic antibodies.

Ethnic Sensitivity Studies

Phase 1 studies conducted in specific ethnic populations (e.g., Japanese) to assess drug dosing, exposure, safety, and tolerability, accounting for potential genetic or physiological differences.

mTORC1

A master regulatory complex that integrates nutritional inputs and dictates whether cells should grow or activate recycling pathways like autophagy, crucial for cellular metabolism.

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How are new drugs discovered?

New drugs are discovered by identifying unmet medical needs in patients, looking for conditions without existing therapies, and then exploring incremental improvements or quantum leaps in treatment.

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What are the main classes of drugs?

Drugs are broadly categorized into small molecules (chemicals), biologics (proteins, antibodies, gene therapies), and devices, each with different manufacturing and regulatory considerations.

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How does drug patent law work?

A patent grants a 20-year monopoly from filing in exchange for public disclosure of how to make the drug, with practical exclusivity often lasting 10-15 years from launch.

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Why is drug development so expensive and prone to failure?

Drug development is costly and often fails due to the long timelines, extensive testing, high number of risks at each stage, and the need to minimize all but identified and accepted risks.

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Why is early failure important in drug development?

Failing early in drug development is crucial to avoid the immense financial and time costs associated with late-stage failures, especially in Phase 3 or after commercialization.

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How does myostatin inhibition affect muscle growth?

Myostatin is an inhibitor of muscle growth; blocking it, or its receptors (like with activin A), allows muscles to grow larger by suppressing proteins involved in muscle degradation.

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What is the purpose of GMP in drug manufacturing?

GMP (Good Manufacturing Process) ensures high-quality standards and extensive documentation in drug manufacturing, guaranteeing that the product is pure, active, sterile, and matches its label.

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What is the risk threshold for healthy volunteers in drug studies?

The risk of a serious adverse event for healthy volunteers in a drug study should ideally be no greater than the risk of being struck by lightning in a year (approximately one in 100,000).

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Why do some drugs require ethnic sensitivity studies?

Some countries, like Japan and China, require ethnic sensitivity studies to ensure drug dosing and exposure are safe and tolerable in their specific populations, due to potential genetic or physiological differences.

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Can nutrition impact drug efficacy for muscle growth?

Yes, studies with bimagrumab showed that higher protein intake within tested boundaries led to more muscle built, suggesting nutrition can augment drug effects on muscle hypertrophy.

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What is the current thinking on mTOR inhibition for longevity?

mTOR inhibition is believed to be geroprotective in humans due to highly conserved biology across species, though the effect size is expected to be modest and selective mTORC1 inhibition is a key challenge.

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How can drugs be developed for cancer prevention?

A novel approach involves identifying drugs that cause cancer (by inhibiting cancer-protective pathways) and then developing agents that gently activate those protective pathways to prevent cancer.

1. Prioritize Unmet Medical Needs

Focus drug discovery on conditions without existing therapies or where significant improvements are needed, rather than incremental changes to existing drugs. This approach yields the greatest value for society and patients.

2. Minimize Drug Development Risks

Identify and minimize risks at every step of drug development, as risks multiply across the program. Accept only identified and accepted risks, and aim to “fail fast” if a project is not viable.

3. Optimize Protein Intake for Muscle Growth

Ensure adequate protein intake when using muscle anabolic agents, as studies show that higher protein consumption (e.g., more than recommended daily amount) augments muscle building effects, potentially overcoming substrate limitations.

4. Consider Combination Therapy for Obesity

Explore combination therapies for obesity management, as this approach can offer superior fat loss while preserving lean mass, potentially achieving bariatric surgery-like results.

5. Utilize Preventive Medicine for Health

Shift focus from “sick care” to “healthcare” by prioritizing preventive medicine. This involves developing drugs and strategies to prevent common causes of morbidity and mortality, leading to healthier longevity.

6. Assess Drug Safety with Lightning Standard

When testing new medicines in healthy volunteers, ensure the risk of a serious adverse event is extremely low, using a probabilistic formula (e.g., risk no greater than 1 in 100,000 annual lightning strike) to justify exposing healthy individuals.

7. Avoid Unregulated Gray Market Peptides

Do not purchase peptides from unregulated manufacturers, as these products lack quality control (GMP), may not contain what’s on the label, and often lack reproducible scientific data, posing significant risks.

8. Target Cancer Prevention by Activating Pathways

Develop drugs that gently activate cancer-protective pathways. This novel approach aims to prevent cancers by counteracting mechanisms that, when inhibited, can lead to tumor growth.

9. Standardize Clinical Trial Measurements

Ensure clinical endpoints are objectively measurable and standardized. Reliable assessment tools are critical for robust drug development, as measurement challenges can halt promising programs.

10. Factor in Regulatory and Market Endpoints

Design clinical trials by balancing scientific ideals with regulatory requirements and investor expectations. This ensures eventual approval and commercial viability, aligning biological goals with practical outcomes.

11. Leverage Global Clinical Trial Locations

Strategically choose clinical trial locations worldwide to optimize recruitment, access to experienced investigators, supportive regulatory environments, and cost-effectiveness.

I personally, and this may be different for different people, but I personally start with the patients and the clinical indications. And essentially, you're looking for what's not there.

Lloyd Klickstein

A patent is essentially a monopoly on being able to make use and sell the drug in exchange for telling everybody how to do it.

Lloyd Klickstein

The worst outcome in drug development is failing in phase three. Actually, that's probably not true. The worst outcome is succeeding in phase three and failing commercially, but failing early, super important.

Lloyd Klickstein

The fundamental tenet of science is if it's real, it's reproducible. This has not been reproduced.

Lloyd Klickstein

Every really successful program has been almost killed or killed several times before it eventually makes it out into humans and then eventually commercialization.

Lloyd Klickstein

The three biggest challenges of any clinical study are recruitment, recruitment and recruitment.

Lloyd Klickstein

Good biology abuts regulatory simplicity for Lutton.

Peter Attia

I believe that the paradigm for managing obesity is going to be induction and maintenance of remission, probably combination and injectable therapies to get people to their, you know, to move them categorically from obese to non-obese. And then they need something for maintenance, which might be something like orforglopron or some oral GLP-1 agonist to maintain appetite and satiety.

Lloyd Klickstein

We need to get away from being a sick care system to a healthcare system. And the way you do that is with preventive medicine.

Lloyd Klickstein

Drug Development Checkpoints (Large Companies)

Lloyd Klickstein
  1. Assemble all accumulated data.
  2. Create comprehensive slide decks for presentation.
  3. Present findings to major decision-making committees.
  4. Obtain feedback from stakeholders and experts.
  5. Adjust program courses and strategies based on feedback.
  6. Continuously reevaluate and reassess the program's progress and risks.
Approached 90%
3-year mortality rate for frail elderly in nursing homes A staggering statistic, worse than many cancers at the time.
20 years
Patent term from filing The duration of monopoly granted by a patent.
10 to 15 years
Practical exclusivity from drug launch The effective period a company has exclusive rights to sell a drug.
2 to 4 billion dollars
Estimated cost per approved drug (today) According to the Tufts organization for the study of drug development.
Thousands
Number of candidate antibodies initially tested Using phage display technology in the early screening phase.
Perhaps 30%
Increase in muscle mass in mice with bimagromab Resulting in impressive muscle hypertrophy, more than myostatin knockouts.
4% to 8%
Increase in muscle mass in humans with bimagromab Observed in older people, with 8% being the absolute maximum.
9 meters
Increase in 6-minute walk distance with bimagromab Found in a meta-analysis of Novartis studies on muscle hypertrophy and sarcopenia.
0.7% or 0.8%
Absolute decrease in HbA1c in type 2 diabetics with bimagromab Observed in a 48-week Novartis study, a significant effect.
70 million dollars
Versanus Bio Series A funding Raised for developing bimagromab, with a wish list of around $100 million.
22-23% of starting body weight
Body weight loss in high-dose bimagromab + semaglutide Achieved in the BELIEVE study at 72 weeks in the high-dose combination group.
45.7% of starting body fat
Fat mass loss in high-dose bimagromab + semaglutide Achieved in the BELIEVE study, comparable to bariatric surgery.
About 20%
Increase in LDL with bimagromab An unexpected adverse outcome observed in the BELIEVE study, attributed to on-target effects in the liver.
About one in 100,000
Risk of being struck by lightning in the U.S. in a year Used as a benchmark for acceptable risk in healthy volunteer studies.
50%
Chance of another skin cancer within a year for older adults with 5+ prior skin cancers A high-risk population for testing cancer prevention drugs.