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The Biomedical Mutual Organization
Two biotechnology clichés of the 21st century.
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Many organizations have looked to solve this problem. The growing number of 'early access' programmes allow patients to access new medicines before the very expensive Phase III trials are complete. Many 'Open Innovation' initiatives try to reduce the cost of research by (basically) getting someone else to pay for it. Many non-profit organizations, mainly medical charities, are moving from passively providing funds when scientists ask for them to actively pursuing new medical ideas, and providing funds to test them in the clinic. Some of these programmes are 'Venture Philanthropy' - philanthropic groups providing funds to for-profit organizations to achieve a goal they both seek.
Rufus has long supported a radical version of this concept, that small companies, even groups of individuals, can discovery and develop their own medical treatments. I have termed this the Biomedical Mutual Organzation. The following two editorials outline the reasons behind this.
Will gene therapy or regenerative medicines be developed this way? It seems unlikely. But there are over 5000 drugs that have been approved historically, and several thousand more that have been into detailed clinical evaluation and then dropped for commercial reasons. Repurposing these could be a task for the BMO.
Please contect me if you would like to discuss this idea further.