A RADICAL plan to end [...].
The new initiative will promote faster early stage drug development through collaboration.
Central to the idea is banishing the secrecy tied to intellectual property (IP) that causes the same work to be duplicated even after it has led nowhere. Earlier this month, about 30 academics, research funders and pharmaceutical industry representatives from around the world meet in Toronto, Canada, to hammer out plans for the new model.
The objective is to launch a prototype scheme by the end of the year at an estimated annual cost of about pounds 124m.
Neuroscientist Dr Chas Bountra, head of the Structural Genomics Consortium at Oxford University, who is organising the conference, believes the pharmaceutical industry is in crisis.
He said under the present system different organisations can spend many years chasing the same therapeutic targets.