San Francisco, Calif. – June 7, 2004 – The economics and traditional structure of drug development are shifting in ways that could lead to viable markets for new, affordable drugs in the developing world if biopharmaceutical companies considered innovative collaborations with nonprofits, according to Victoria Hale, Ph.D., founder and CEO of the Institute for OneWorld Health, the first nonprofit pharmaceutical company in the U.S.
Dr. Hale will speak at the BIO 2004 Annual International Convention in San Francisco as part of the Global Health track in a panel session titled "Mutually Inclusive: New and Affordable Drugs for Developed, Developing Worlds." The session will take place today, June 7, at 2:15 pm in the Moscone Convention Center, Room #2007 West.
Dr. Hale will speak about her company's proven record of collaboration that enables drug companies to partner without compromising their profitability goals. "The benefits of such collaborations are vast," stated Dr. Hale. "By working with us and other like-minded nonprofits, industry is an active partner in bringing new, affordable drugs to cure infectious diseases in the developing world, and helps to nurture new markets."
New advances in biotechnology manufacturing, splitting of intellectual property between partners to cover various geographies and indications, donations of promising but unused intellectual property, and sharing investments and risks in drug development are some of the strategies OneWorld Health uses to create collaborations with industry.
The most vital resource needed to achieve successful collaborations is people -- professionals with biopharmaceutical expertise. Dr. Hale said OneWorld Health will seek out companies that offer executive loan or sabbatical programs that would allow their employees to lend their talents to the nonprofit pharmaceutical company in specific programs.
The panel consists of:
Chair: Tom Brewer, Senior Project Officer, Bill & Melinda Gates Foundation
Speakers: Victoria Hale, CEO, Institute for OneWorld Health
Chris Hentschel, CEO, Medicines for Malaria Venture
Lynn Marks, Senior Vice President, GlaxoSmithKline
Wendy Taylor, Executive Director, BIO Ventures for Global Health
The Institute for OneWorld Health, the first nonprofit pharmaceutical company in the U.S., advances global health by developing new, affordable medicines for infectious diseases that disproportionately affect people in the developing world. OneWorld Health accomplishes this through an entrepreneurial business model in which its staff of experienced pharmaceutical scientists identifies promising drug leads and drives their development from pre-clinical studies to clinical trials through regulatory approval. The Institute for OneWorld Health, headquartered in San Francisco, Calif., is a tax-exempt 501(c) (3), U.S. corporation (www.oneworldhealth.org).
Source: Eurekalert & othersLast reviewed: By John M. Grohol, Psy.D. on 21 Feb 2009
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