As private funding of biomedical research soars, new risks arise
New Rochelle, NY, November 27, 2017–Academic medical centers (AMCs) in the U.S. are navigating an increasing shift in research funding from historic public funding (e.g., NIH) to private sources such as pharma and biotech companies, foundations, and charities, raising a host of new issues related to collaborative research models, intellectual property rights, and scientific and ethical oversight. The potential risks of the new Innovation Network model, supported by private funds and led by an innovation benefactor who also orchestrates the network, are presented in an article published in the peer-reviewed open access journal Healthcare Transformation, from Mary Ann Liebert, Inc., publishers. The article is available open access on the Healthcare Transformation website.
The article entitled "The New Age of Private Research Funding: Be Careful Out There!" is coauthored by Gino Inverso, University of Pennsylvania (UPENN) Health System, Nada Boualam, Wharton School, UPENN, and Kevin B. Mahoney, Perelman School of Medicine, UPENN and the Fox School of Business, Temple University, Philadelphia, PA.
The authors discuss the factors essential for the success and strength of an Innovation Network, in which a limited number of AMCs collaborate on a shared research agenda that is supported by a private benefactor, such as a foundation seeking a cure for a specific disease. They warn researchers, physicians, and AMCs of the three main conflicts that exist – financial, scientific, and ethical – when the benefactor of the Innovation Network also manages the network, and recommend the appointment of an independent oversight board.
About the Journal
Healthcare Transformation, a breakthrough peer-reviewed open access journal spearheaded by Stephen Klasko, MD, MBA, President, Thomas Jefferson University (TJU) and CEO Jefferson Health (Philadelphia, PA), delivers the foremost research in re-imagining healthcare delivery, education, technology, innovation, and discovery. The publication serves as a forum to present visions of the future, debate current models, and provide an invaluable source of optimism for everyone involved in healthcare and the transformation of healthcare. Presented through notable research articles, perspectives, commentaries, Letters to the Editor, interviews, and point/counterpoint debates, the Journal pushes the boundaries of existing thinking to transform the future of healthcare frameworks, networks, and officialdoms. Complete content is available on the Healthcare Transformation website.
About the Publisher
Mary Ann Liebert, Inc., publishers is a privately held, fully integrated media company known for establishing authoritative medical and biomedical peer-reviewed journals, including Population Health Management; Telemedicine and eHealth; Cyberpsychology, Behavior, and Social Networking; Big Data; and Games for Health Journal. Its biotechnology trade magazine, GEN (Genetic Engineering & Biotechnology News), was the first in its field and is today the industry's most widely read publication worldwide. A complete list of the firm's more than 80 journals, newsmagazines, and books is available on the Mary Ann Liebert, Inc., publishers website.