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Children's Hospital Boston Advances Cutting-Edge Technologies with its New Technology Development Fund
Date:5/8/2009

demic institutions and research hospitals are considered early stage - generally not having been validated in animal models or with clinical data. Current statistics show that the average cost and time to develop a drug is now estimated at $1 billion and 10+ years (Pharmaceutical Manufacturers Association/Tufts Center for the Study of Drug Development: http://www.phrma.org/files/2008%20Profile.pdf) with fewer than 10 percent of investigational new drugs filed for new molecular entities (NME) ever progressing beyond the investigational stage to approval (From FDA: http://www.fda.gov/cder/guidance/6384dft.htm). The combination of these factors has created a "gap" between National Institute of Health (NIH) funded basic research and the late stage technologies now sought by companies and investors.

In order to address this gap and fulfill its mission to increase the translation of its research into potentially life saving products, Children's has decided to take action by launching the Technology Development Fund--even in the current challenging economic times. Combined with Children's Translational Research Program, these resources provide a complementary source of stimulation and facilitation for development of preclinical, and ultimately, human translational trials seeking to improve the care of patients with serious diseases.

"While the idea of a technology development fund is not novel, the approach Children's is taking in setting up the fund certainly is," says Halvorsen.

To narrow the gap and provide a cle
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