A biomedical industry collaboration for innovation
For medical innovation and treatment breakthroughs to reach patients, several stakeholder groups in the biomedical research and drug development worlds need to collaborate. Increasing research costs and limited financial resources are shrinking the number of research discoveries going to clinical trials. This slows progress toward the innovations that lead to treatments and cures.
Translational medicine is a branch of medical research that concerns itself with connecting basic research to patient care. While much attention has been focused on productivity challenges facing big pharmaceutical companies, translational medicine is more vulnerable than ever to investment fluctuations and other factors that may disrupt the flow of capital to innovation early- stage companies. Fortunately, new sources of capital are stepping into the breach, but the challenge of matching these sources with the most deserving technologies remains.