Fund Discovery Research
Your group can form partnerships with a pharmaceutical company (industry) and/or facilitate formation of a larger partnership between key stakeholders, including your group.
- Strategic partnerships are traditionally collaborations between businesses with a common mission. However, many large pharmaceutical companies are beginning to build strategic partnerships for the development of therapies for rare diseases with academia, small businesses, and even groups like your own.
- The overall goal of strategic partnerships is to share resources in a way that promotes growth for all partners.
- Choose a partnership with an expertise different from your own. For example, if your researchers have the need to develop an animal model to test a promising therapy, find a strategic partner that has the resources to develop that model.
- Since a strategic partnership involves contracts, if your group is going to establish a strategic partnership make certain your Board of Directors, Scientific/Medical Advisory Board, and possibly a business lawyer are involved in the process.
- Alternatively, you can help academic researchers or start-up medical research companies establish strategic partnerships by searching for possible industry partners.
- Venture funds are another way large pharmaceutical companies are investing in the early stages of rare disease therapy development.
- Venture funds however tend to support start-up medical research companies, rather than academic researchers or patient groups.
- Usually involve a high level of engagement with representatives from the large pharmaceutical company leading or co-leading the investment and playing an active role on company boards.