With the downturn in the economy and recent failures of VC invested money in some biotech areas, this might not be a bad idea. Genomics is here to stay but there doesn’t seem to be enough money yet as it is still basically a science and too soon to get too many real concrete processes yet to work with. It is confusing at the point of care with physicians as well.
Big Pharma, of course, need the technology for creating the next generation of medications and treatments. BD
An important role for foundations in personalized medicine could be getting involved in what the Kauffman foundation calls “de-risking activities,” which are aimed at filling funding gaps, and improving the probability of success.
Large foundations can use their largesse to finance and manage discovery and development programs. The Gates Foundation’s Global Health Program, for example, works through venture intermediaries to support R&D and to provide global access to new vaccines, drugs, and other health tools.
These venture intermediaries, or product development public-private partnerships, can function “as a virtual pharma company looking for good ideas, progressing them to the point where proof of concept is achieved,” and then ideally handing projects on to or collaborating with large pharmaceutical companies.
The Gates Foundation’s GHP, for example, has committed $6 billion in global health grants to date.