We have been trying to develop a drug, but as an academic you only have so much business acumen. Business is a world full of sharks out to make a buck. Universities can be fodder for the business shark. Therefore you need to get your own business team in place.
However, people don't want to work for nothing so once you have staff then costs accumulate so pharma has serious costs all the time that drugs are in development. If you are virtual you can be very cash efficient.
CoI We are founders of Canbex that is attempting to treatments for MSers