Report
Note: Workshop Summaries contain the opinion of the presenters, but do NOT reflect the conclusions of the IOM. Learn more about the differences between Workshop Summaries and Consensus Reports.
Many voluntary health organizations--that is, nonprofit charitable organizations, patient advocacy groups, and foundations--fund translational research, helping to seed the development of innovative treatments that commercial pharmaceutical and biotech companies then can advance into the clinic and develop into new therapies. An increasing number of these organizations are looking at venture philanthropy as a critical way to advance their missions of helping patients and working to cure disease.
The concept of "venture philanthropy" stems from venture capitalism, in which third-party sources invest in typically high-risk endeavors. Venture philanthropy, however, is aligned with philanthropic goals and outcomes; the voluntary health organizations employing venture philanthropy strategies are focused on becoming more directly involved with the drug development process while relying on the generosity of foundations, wealthy individuals, and other sources of nongovernmental funding.
A wide range of participants, including representatives from voluntary health organizations, academic investigators, industry representatives, and others gathered on October 3, 2008 at the Beckman Center of the National Academies of Science for a workshop titled "Venture Philanthropy Strategies Used by Patient Organizations to Support Translational Research." Participants with experience in venture philanthropy shared their experiences and lessons learned in order to improve efficiency and effectiveness in translational research
Other Reports by this Activity
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From Molecules to Minds: Challenges for the 21st Century. Workshop Summary
On June 25, 2008, the IOM Forum on Neuroscience and Nervous System Disorders hosted more than 70 of the leading neuroscientists in the world, for a workshop titled From Molecules to Minds: Challenges for the 21st Century. The objective of the workshop was to explore a set of common goals or “Grand Challenges” posed by participants that could inspire and rally both the scientific community and the public to consider the possibilities for neuroscience in the 21st century.
Released: September 29, 2008
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Autism and the Environment: Challenges and Opportunities for Research. Workshop Proceedings
On April 18 and 19, 2007, the Institute of Medicine’s (IOM’s) Forum on Neuroscience and Nervous System Disorders, in response to a request from the U.S. Secretary of Health and Human Services, hosted a workshop called “Autism and the Environment: Challenges and Opportunities for Research.” The goal of the workshop was to provide a venue to bring together scientists, members of the autism community, and the major sponsors of autism-related research to discuss the most promising scientific opportunities.
Released: October 18, 2007
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