Loose affinity network of 56 nonprofit disease research foundations Created to tackle the challenges that cut across diseases through innovative partnerships Connected through TRAIN Central Station, an open-source web platform: www. fastercures.org/train
TRAIN Inventory Thought leaders – including those in the venture capital community and media – have turned to this inventory as a resource to provide them with an in-depth understanding of current trends and practices in the venture philanthropy space.
TRAIN groups’ business models catalyzing progress; draw attention, recognition “…patient groups with an entrepreneurial bent have become the drug industry’s new power brokers.” - Forbes …Frustrated with the sluggishness, or nonexistence, of medical research…a small band of wealthy parents whose children have serious illnesses are spending millions of dollars to fund drug development...The principles they apply in their jobs -- managing complicated tasks, making investments and expecting positive results -- translate to their new endeavors. 09/07/11
When Nonprofits Drive For-Profits “At a time when so many companies are starving for cash to advance their best drug R&D ideas, many nonprofit foundations know they can make an impact by cleverly applying their own blend of money, networks of patients, and sincere advocacy.”
Increasingly powerful force in early- stage research “They required us to lay out the vision for the pre-clinical and early clinical development… Most importantly, they were able to view the program with a critical eye and provide meaningful feedback.” Although the funding models may differ from organization to organization, virtually everyone agrees that the ties between biotech industry and nonprofit patient-centered organizations will continue to strengthen.
WSJ 9-chapter multimedia special captures the spirit of patient-driven R&D
Venture Philanthropy in Medical Research Fund novel, high-risk research Have strong scientific expertise Bridge disciplines, institutions, & ideas Trusted by and have access to patients
Patient Foundations are TRUSTED by and have ACCESS to patients Strategic players in R&D in their disease areas Creating assets and capabilities that can be used to develop evidence for regulatory approval and to demonstrate value to payers. clinical care and research networks patient registries and tissue repositories social networks in some cases, pharmacy and care management services Form a unified advocacy front on key public policy issues affecting the pace of research. Fund novel, high-risk research Strong scientific expertise Bridge discipline, institutions & ideas Trusted by and have access to patients
Foundations as “de-riskers” Developing pre-clinical tools Targeting research to support translation Funding mechanisms that bring in industry Managing academic science Access to patient community New indications for existing drugs High-throughput screening of promising compounds Access to scientific expertise Advocating with FDA Early-stage investors and/or “talent scouts”
“Not your grandmother’s charity” Make both investigator-initiated and directed grants Manage grants more actively to maximize efficiency and chances of success Have internal scientific and/or industry expertise Provide access to patient resources via registries, tissue banks, clinical care/research networks Mine academic grant portfolios for promising discoveries ready for translation Provide resources and relationships to aid in translation to clinical research and hand-off to industry Consistency and focus to push research projects along
Venture philanthropy impact Funded $400 million in research since 2000, 90% for translational research Funded testing of over 100 therapeutic targets for Parkinson’s Disease Creating and sharing research tools Leading the development of a PD biomarker Partnership with Elan Corp. gave them first look at promising projects Approval of 6 new multiple myeloma drugs World’s first and largest myeloma tissue bank Full sequencing of the myeloma genome Opened 45 clinical trials, accelerating 6 treatments to Phase III Personalized medicine initiative includes landmark trial that will closely monitor 1,000 patients over 5 years- Funded more than $1 billion in research since 2005 Actively supports more than 22 new treatments in development – 10 FDA- approved Partners include Vertex, Pfizer, PTC Therapeutics, Genzyme 40-year-old patient registry 74 accredited care centers conduct trials >$62M to 415 drug research programs in academia and biotechnology in 18 countries >$8.5M to 40 companies with an average investment of $250K, including 4 successful start-ups through tech transfer Funded programs attracted hundreds of millions of dollars in follow-on funding from government grants to IPOs
Honest Brokers for Cures In-house scientific expertise Smart business strategies Innovative financing models Leadership & accountability …Frustrated with the sluggishness, or nonexistence, of medical research…a small band of wealthy parents whose children have serious illnesses are spending millions of dollars to fund drug development...The principles they apply in their jobs -- managing complicated tasks, making investments and expecting positive results -- translate to their new endeavors. 09/07/11