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PharmaTalkRadio Covers A New Economic Solution to Drive Cures to Patients
April 4, 2016
PharmaTalkRadio features a radio discussion on a new model to repurpose drugs in unsolved diseases.
Generic drugs can be repurposed to create effective treatments in unsolved diseases. However, there is no economic incentive for industry to pay for a clinical validation and regulatory approval process for most generic drug repurposing because it will not achieve the necessary ROI.
Cures Within Reach, FindaCure, Numbers For Good and the National Health Service in England are working together to the create a new economic solution to this problem by piloting the first ever Rare Disease Generic Drug Repurposing Social Impact Bond (SIB).
This SIB would be a “pay for success” initiative, in which investors fund the proof of concept repurposing clinical trials and the government provides a payment to the SIB for any repurposed therapies that both improve patient outcomes and reduce healthcare costs. The government success payment would allow the SIB to repay the investors, and have additional funds for the next group of repurposing clinical trials, creating a sustainable funding source for generic drug repurposing.
Valerie Bowling , Executive Director, Conference Forum
Bruce Bloom, JD, President & CSO, Cures Within Reach
James Potter, Investment Director, Numbers for Good
Flóra Raffai , Executive Director, Findacure
Dr Rick Thompson , Scientific Officer, Findacure
Bruce Bloom led panels at both the Dpharm, Disruptive Innovations to Advance Clinical Trials conferences in Europe as well as in the US. Our next DPharm event will take place September 20-21 in Boston. For more information about other radio programs and the next DPharm event, please visit www.theconferenceforum.org.