Abstracts

Many obstacles contribute to the uncertainty andrisk associated with early drug development, leading to the "valleyof death" in which promising drug candidates experiencedifficulties in reaching the market. These challenges have seriousconsequences for patient populations facing significant unmetmedical needs. In this paper, we highlight three models that offerinnovative financing mechanisms or new business models for earlystage biopharmaceutical assets. Specifically, we evaluate andprofile examples of venture philanthropy and academic-industrypartnerships as sources of financial capital for early stageassets. In addition, we identify a "one-disease" business model inbiotechnology that can mitigate risk and accelerate the translationof biomedical research into novel therapeutics. The three exampleshighlight the potential for creative mission-driven models to speedup drug development and provide capital in the earliest, and oftenriskiest, stages of drug development. These models arecollaborative and leverage the expertise of the variousstakeholders in the process, including patient advocates, privatesector drug developers, and academic researchers.Advisors/Committee Members: Andrew W. Lo (advisor).