On this episode of the HBO documentary series, Andrew Lo discusses an idea he and colleagues developed with regard to the FDA approval process. They’ve developed a model that incorporates patient preferences into the design of clinical trials in order to set appropriate thresholds for FDA approval.MORE HERE >
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Presented by Dr. Vikas P. Sukhatme on December 8, 2015 at MIT in Cambridge, MA.
Lung cancer is sometimes diagnosed in its early stages yet despite surgery, radiation, and chemotherapy, these tumors often recur systemically and lead to death. Retrospective data show that a pre-operative single dose of an existing therapeutic used off-label tended to increase metastasis-free survival over 10 years by about 15%. If proven, this simple, inexpensive, and non-toxic intervention could save the lives of nearly 5,000 lung cancer patients and half a billion dollars in healthcare costs annually in the US alone. However, with today’s drug development model it will never be adopted as standard of care—with little to gain financially, pharmaceutical companies have little interest in sponsoring the prospective trial necessary to validate the data. GlobalCures, a non-profit medical research organization, exists to fill this gap and its model will be presented.VIEW HERE >
We are making breakthroughs almost weekly in our understanding of cancer and other deadly diseases, both in how to treat and – in some cases – how to cure them. So why is funding for early stage biomedical research and development declining just when we need it most? One answer is that the financial risk of drug development has increased, and investors don’t like risk. What if we could reduce the risk and increase the reward through financial engineering? By applying tools like portfolio theory, securitization, and derivative securities to construct “megafunds” that invest in many biomedical projects, we can tap into the power of global financial markets to raise billions of dollars. If structured properly, investors can earn attractive returns with tolerable levels of risk, and many more patients can get the drugs they desperately need. Finance doesn’t have to be a zero-sum game; we can do well by doing good if we have sufficient scale.
This talk was given at a TEDx event using the TED conference format but independently organized by a local community.VIEW HERE >
Believe it or not, about 20 years’ worth of potentially life-saving drugs are sitting in labs right now, untested. Why? Because they can’t get the funding to go to trials; the financial risk is too high. Roger Stein is a finance guy, and he thinks deeply about mitigating risk. He and some colleagues at MIT came up with a promising new financial model that could move hundreds of drugs into the testing pipeline.MORE HERE >