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Accelerating Innovation in the Bioscience Revolution: Report from the 2011 Lake Tahoe Retreat Milken Institute May 23, 2012   Biomedical | Education & Workforce Development | Financial Innovations | Health | Human Capital | Innovation | Job Creation | Philanthropy | Public Policy | Science | U.S. Economy Publisher: Milken Institute Price: $20.00

In the fall of 2011, a remarkable group of leaders came together to find new ways of overcoming the barriers that have prevented more progress in medical research. The meeting brought together forward-thinking leaders in medicine, business, and government who pledged to rethink the way research in the sector is conducted, the way risks are assessed and the way companies are structured. Participants included leaders from DARPA, the U.S. Food and Drug Administration, GE Global Research, Kleiner Perkins Caulfield & Byers, the National Institutes of Health, Quintiles, Sanofi, the X Prize Foundation, and many more.

Participants focused on ways to jumpstart innovation in the biosciences and accelerate the process of turning scientific discoveries into therapies -- from harnessing the power of crowdsourcing to creating multidisciplinary networks to establishing open collaboration and safe-harbor environments in medical research and development.

The report provides important context on the need to spur greater advances in medical research and lays out dozens of actionable policies, including:

• Supporting public-policy initiatives that bolster U.S. leadership in biomedical research and innovation
• Revamping the U.S. tax code to encourage investment in biomedical research and development
• Streamlining and modernizing the FDA's regulatory review processes
• Providing U.S. visas for students with potential to contribute to medical research
• Expanding funding for high-risk, early-stage research projects
• Investing more resources in science, technology, engineering, and math education programs

This ambitious event was a successful first step toward a long-term revival of innovations that will save lives. An Advisory Committee on Biomedical Innovation, co-chaired by Michael Milken, Chairman of the Milken Institute, and Chris Viehbacher, CEO of Sanofi, is being convened to begin implementing the key recommendations detailed in this report.

Margaret Hamburg Commissioner Food and Drug Administration	Francis S. Collins Director National Institutes of Health	Chris Viehbacher CEO Sanofi	Jim Greenwood President and CEO BIO	Jay Schnitzer Director of the Defense Sciences Office Defense and Advanced Research Projects Agency	Regina Rabinovich Director Infectious Diseases Bill & Melinda Gates Foundation
Susan Desmond-Hellmann Chancellor University of California San Francisco	Ed Boyden Associate Professor MIT Media Lab	Dennis Gillings Founder, Chairman, and Chief Executive Quintiles	Frank L. Douglas President and CEO Austen BioInnovation Institute	Hoyoung Huh Chairman Geron Corporation	Peter Ueberroth Entrepreneur and business owner