One of the most important empirical observations about modern drug development is Eroom’s Law: the finding, first articulated by Jack Scannell, that the number of new drugs approved per billion dollars of R&D spending has halved roughly every nine years. In other words, drug discovery has been getting exponentially less efficient, even as biomedical science has advanced dramatically. Sequencing is cheaper, computing is more powerful, high-throughput screens are faster, and the volume of biologic...