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FasterCures Presentation: Fostering innovation while delivering treatments and technologies to large markets
- 1. Margaret Anderson COO June 25, 2009 BioEconomy Summit Healthcare Policy Session 2: Affordability and Access Fostering innovation while delivering affordable treatments and technologies to large markets
- 3. Addressing Challenges within the Traditional Research System
- 7. Finding Big Ideas in Small Spaces: New Business Models to Accelerate Research
- 9. Finding Big Ideas in Small Spaces The Redstone Acceleration and Innovation Network Passion Capital De-Risking Investments Patient Access Clinical Trial and Research Networks Intellectual Capacity Research Discipline Science Management Advocacy T he R edstone A cceleration and I nnovation N etwork
- 12. Separating what we need to do in science and what we need to do in the culture of science to accelerate curing diseases
- 14. Get involved with FasterCures Visit us online and get the latest FasterCures information, publications, podcasts, video clips, and other multimedia resources Stay informed, get relevant, up-to-date news stories in biomedical research delivered to you twice-weekly Track our progress through our quarterly newsletter featuring program developments and offerings Talk to us. Respond and comment on our blogs about the latest issues, trends, and findings that impact medical research and discovery Find and follow us
- 15. Partnering for Cures will bring together philanthropists, medical research foundations, and biopharmaceutical companies that can accelerate the development and approval of new therapies patients need.
Editor's Notes
- Source: “ 2006 Investment in U.S. Health Research ”, Research!America, An Alliance for Discoveries in Health, 2007; Moses, H. et al, “ Financial Anatomy of Biomedical Research ,” Journal of American Medical Association, vol.294, No.11, September 21, 2005
- Collaborative, mission-driven, results-oriented, and strategic in their use of capital, these groups are motivated solely by moving promising therapies from the laboratory bench to the patient’s bedside as rapidly as possible – even those that do not directly fund therapy development. For too long, our national research enterprise has been dominated by long-term investment in low-risk, low-yield, but reliable bonds. These new disease research organizations represent a diversification of our national research portfolio with a variety of high-risk, high-reward ventures. Nonprofit organizations can support alliances that typically would not be supported through public investments, such as with for-profit companies. They can bridge disciplines, institutions, and ideas when the opportunity arises and in record time. Because of their close relationships with the patient communities, their ability to move quickly to address emerging translational and clinical opportunities and their capacity to leverage public investment, these organizations can catalyze and jump-start innovation. Moreover, they can serve as a reliable source of funds for novel, high-risk research that might not be able to compete successfully for public funds. Because they are closer to the patients and therefore closer to the problems needing solutions, innovative nonprofit funders have heightened awareness of the importance of translational and clinical research programs. Increasingly, they are forming a unified advocacy front on key public policy issues affecting the pace of research, such as privacy regulations, intellectual property challenges, and the resolution of ethical issues.
- Free of the pressures of publication and career advancement in academia and the bottomline imperatives of the private sector, nonprofit foundations are ideally positioned to make relatively high-risk investments that could significantly move a field of research forward and increase the likelihood that other parties also will invest.