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Posts Tagged ‘Project ALS’

Re-posted from the Cross-Border Biotech Blog

By Jeremy Grushcow

As part of our Biotech Trends series, we’ve been following the increasing commercialization activity shown by non-profits (although they’ve been having as hard a time succeeding as everyone else).  Two recent stories highlight the important role foundations are playing in this market environment.

  1. JDRF Canada – FedDev Ontario Clinical Research CollaborationThe Juvenile Diabetes Research Foundation (JDRF) Canada is partnering with the Federal Economic Development Agency of Southern Ontario (FedDev Ontario) to fund a clinical trial network for diabetes research. FedDev Ontario is committing $20 million and JDRF is committing $10 million. JDRF will collaborate with Southern Ontario universities and research institutions to work on:
    • Speeding advances in cures and therapies for diabetes and its complications;
    • Positioning Southern Ontario as an international hub for translational research; and
    • Attracting the best international scientists and institutions to Ontario.
  2. ALS Foundations-Academia-Industry Project. Three philanthropic organizations (The Angel Fund, The ALS Therapy Alliance and Project ALS) are financing a new collaboration between Dr. Robert Brown and RXi Pharmaceuticals Corporation (NASDAQ: RXII). Dr. Brown will study the use of RXi’s self-delivering rxRNA™ (sd-rxRNA™) compounds as a potential treatment for ALS in a SOD1-overexpressing mouse model.

Each takes a novel approach:

  • JDRF Canada, by collaborating directly with the government and by focusing on clinical activity; and
  • the ALS project by allowing each party to perform in its specialty — academics on research, corporations on commercialization and the philanthropies on fundraising.

In a stubbornly difficult financing environment, funding sources other than VCs step up because they derive non-financial (or at least indirect financial) benefits from their investments: corporate VCs get access to future partnership prospects; governments stimulate job growth; and charitable foundations are committed to finding cures and treatments.  These two projects are perfect examples of the work-arounds that committed participants can produce.

Jeremy Grushcow  is a Foreign Legal Consultant practising corporate law at Ogilvy Renault LLP. He has a Ph.D. in Molecular Genetics and Cell Biology. His practice focuses on life science and technology companies.

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