A story in the current issue of The Economist spotlights the Foundation's success in spurring development of new drugs for cystic fibrosis.
Once, the story says, only drug companies developed drugs. No more. Now, charities are investing in and funding drug research.
“The leading 'venture philanthropist' is the Cystic Fibrosis Foundation,” says the story, referring to the growing trend of nonprofits investing in drug development with pharmaceutical companies. “It (the Foundation) has supported early research and clinical trials, small biotech firms and the biggest of Big Pharma companies, Pfizer.”
The story notes the Foundation's $75 million investment in Kalydeco, which in January became the first
The Economist is a weekly news and international affairs newspaper based in London with circulation of 1.5 million.