In mid-2013, as FasterCures observed its 10th anniversary as a centre of the Milken Institute, Executive Director Margaret Anderson thought about just what the organization should do to ensure it had even more impact in its next 10 years. FasterCures was a non-profit "action tank" whose mission was to rush the process of moving new therapy from discovery to patients in demand. Although their yearly conference ("Partnering for Cures") to improve how the government research was organized, was a tremendous success, Anderson considered refocusing their resources on greater challenges.
For instance, current trends in the US showed that late stage research was being increasingly supported by investors with higher odds of success while funding for more high-risk early stage research was drying up. Should FasterCures direct it toward early period breakthrough treatments and raise money? Another issue was the US clinical trial process system. It takes quite a long time because it is complicated, and very costly. Should FasterCures restructure to have a clear comprehension of this issue and make a high level push to enhance it? Or perhaps drug compensation decisions should be looked at by FasterCures. Anderson needed to determine where FasterCures should get completely involved, what it should do, and whether it could really make a difference.
PUBLICATION DATE: October 08, 2013 PRODUCT #: 814003-PDF-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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