Monday, July 28, 2014

Crowdfunding for cures

I always get incensed when I hear about people who hold bake sales to get money for a transplant. There has to be a better system!

Now, according to Ed Silverman, WSJ, July 15, 2014, the new approach of crowdfunding is being applied to early stage research on drugs or tests.

Early stage because you need to know yes or no on the promise of something without spending a ton--crowdfunding doesn't raise tons.

They did a study of 97 campaigns for cancer and other disease research and concluded that the approach could lead to more visibility, preliminary findings, and maybe more money from other sources.

These campaigns raised in the range of $45K on average (Drug Discovery Today).

It's a start, is how researchers, parents, and patients look at it.

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