In recent years non-profit disease foundations have been steadily increasing the amount of money they invest in promising new therapies. Often stepping in at an early stage, where many venture capital groups have traditionally feared to tread, the foundations filled a key niche in financing research work. And now that the economic crisis has dried up funding for many developers, the foundations are being turned to as a lifeline for struggling biotechs.
For many non-profits, including the Cystic Fibrosis Foundation, the turn of events has forced a shift in focus from science to finance. "Yahoo Finance is the most visited Web site on my computer," Diana Wetmore, the vice president of alliance management, tells the Boston Business Journal.
- check out the report from the Boston Business Journal