Kevin PflegerHead Of Molecular Endocrinology and Pharmacology
Harry Perkins Institute of Medical Research
9:50 AM CASE STUDY: Early Stage Biomedical Innovation - Blurring The Boundary Between Philanthropy And Commercial Investment
Research institutions receive grants and philanthropy to carry out research into a range of diseases in order to bring treatments closer. However, a major barrier to achieving impact that benefits patients is translating the research, often down a commercialisation pathway. Investors, and even ‘early stage funds’ still want the research to be ‘derisked’ to a certain degree before they will invest in it. How do we overcome this gap?
- Collaboration at this early stage to spread the risk, particularly with respect to commercialisation expertise and process
- Education of researchers to understand the different skill sets required to commercialise
- Expert industry mentorship, often provided without direct financial gain
- Value proposition for those funding early stage innovation, including governments, industry growth centres, universities, research institutes, companies and philanthropists.