November 19, 2015

Findacure has teamed up with the US-based Cures Within Reach to help develop the concept of social investment for rediscovery research for fundamental diseases. Dr Bruce Bloom of Cures Within Reach explains how this works:

Rediscovery research improves lives by taking drugs approved for one disease and repurposing them to create a new treatment in a different disease. When the repurposed drug is generic and able to be taken in the current dosage and formulation, there is often little or no profit to be gained, so industry does not fund these repurposing projects. Currently, philanthropy funds them, and that funding is hard to get.

One potential way to create a huge incentive for investors to finance these life-saving rediscovery research projects is through a social impact bond (SIB). A SIB is an arrangement between one or more government agencies and an external organisation, called a social impact bonding organisation (SIBO), where the government specifies an outcome and promises to pay the external organisation a pre-agreed sum if it is able to accomplish the outcome.

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All funds donated to Cures Within Reach may be tax deductible for federal income tax purposes.  CWR is recognized by the IRS as a 501(c)3 tax-exempt not-for-profit organization, tax ID 20-3620169.


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