The science driving precision medicine — specific therapies developed for narrowly defined groups of patients, often using genetic or molecular profiling — is advancing rapidly. But science is not enough. Exploiting these opportunities requires significant capital. That’s because research to develop a new treatment and bring a new drug to market is extremely expensive, and conventional methods for obtaining funding aren’t adequate. Consequently, new funding models are required in which disease-focused nonprofit research foundations play a central role in raising capital and mobilizing an ecosystem focused on controlling and curing a disease.
How Nonprofit Foundations Can Sustainably Fund Disease Research
Three strategies that work.
September 30, 2020
Summary.
Scientific advances have created a plethora of potential ways to find treatments for controlling or curing diseases. But because of the significant risks that such R&D efforts entail, conventional funding models often can’t provide adequate support. Nonprofit research foundations, however, can play a central role in filling this gap. The authors have identified three approaches that foundations are successfully employing to develop sustainable funding models, raise significant amounts of capital, and bring together multiple stakeholders to accelerate progress in fighting a particular disease.
New!
HBR Learning
Finance Essentials Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Finance Essentials. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Strengthen your fluency in financial statements.
Learn More & See All Courses
New!
HBR Learning
Finance Essentials Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Finance Essentials. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Strengthen your fluency in financial statements.