Robert J. Beall, president of the Cystic Fibrosis Foundation, spoke to a small group of venture capitalists and biosciences entrepreneurs in San Francisco Sunday night, highlighting the importance of having patients’ voices heard when it comes to drug research.
Beall, who created the model for “venture philanthropy,” said that the $3.3 billon the foundation received by selling royalty rights from Boston-based Vertex Pharmaceuticals Inc.’s drugs will be used to create new alliances between drug makers like Pfizer Inc to Shire PLC and scientists at a Bedford, Mass. lab will use cell lines from cystic fibrosis patients to test compounds that could become medicines.
“That’s what the monetizing allows us to do,” said Beall, according to The Boston Globe. “We’re trying to create collaborations. We think the life expectancy of cystic fibrosis patients can be increased by decades.”
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
In San Francisco on Monday, the J.P. Morgan Healthcare Conference kicked off, and patient advocates are a more prominent presence than what’s been seen previously, the Globe reports.
Venture capital firm Polaris Partners of Boston spoke about the importance of patient perspectives at the conference, and they got some insightful responses.
A former advertising executive shared about her treatment-resistant depression and how her life was transformed with transcranial magnetic stimulation, a technique marketed by Polaris-backed Neuronetics Inc. (She said she has no financial stake in the company.)
“This therapy has the potential to save millions of lives of patients who don’t respond to traditional drugs,” she said.
A Personalized Approach to Medication Nonadherence
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
A global business consultant shared that his acne scar treatment from Polaris-based Suneva Medical Inc. in Santa Barbara, Calif., has affected his career for the better.
“Having a clear face with fewer scars played a big role,” he said. “It gives you the confidence that’s important to success in business.”
Polaris venture partner Amy Schulman said that when it comes to guiding the efforts of investors and entrepreneurs, the patient perspective is becoming more and more important.
“The human dimension underlies all our science and all our business,” she said.
