The Milken Institute Lake Tahoe Retreat: Accelerating Innovation in the Bioscience Revolution
DescriptionThe promise of medical science has never appeared greater. A new era of personalized medicine could assure greater longevity and quality of life. But realizing that vision is proving tougher and taking longer than anyone imagined. Progress has bogged down in the face of financing, regulatory and structural hurdles. With lives in the balance, how can we shake up the status quo? Is there a better way to conduct medical research in the 21st century?
In short, how can we accelerate innovation?
Answering those questions was the primary focus of this high-level retreat in Lake Tahoe, Nevada. This invitation-only event gathered some of the leading minds in medicine to challenge the notion of business as usual and take an entirely fresh approach to jumpstarting innovation in research and development.
At this intensive retreat, disruptive innovators from a range of industries and disciplines met with scientists, regulators, biopharmaceutical executives, policy experts, philanthropists and patient advocates. We believe that the medical research community can benefit from examining what works in other fields. Together they laid out concrete next steps that can result in better patient outcomes and lower costs.
The agenda touched on such issues as:
•How do we overcome a culture of risk aversion?
•What innovative models already exist in different disease research areas? Are they broadly applicable?
•How do we encourage capital formation around innovation when the risk of failure is high?
•What's the right model for information-sharing and convergence?
•What kind of next-generation intellectual property protections and research incentives do we need?
•How do we make sure that the regulatory process keeps up with the pace of science, especially as we move toward personalized medicine?
•Is there a better way to conduct clinical trials?
By bringing together a dynamic mix of perspectives, this event generated creative problem-solving that can produce real momentum in delivering cures.