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Biotech / Medical : Biotechnology Value Fund, L.P.
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To: scaram(o)uche who wrote (226)7/27/1998 12:45:00 PM
From: aknahow of 4974
 
Rick, the core problem is the insistence of the F.D.A. that they must determine not only safety but efficacy. This makes the cost of development excessively high. So biotechs without positive cash flow are forced back to the capital markets in a position of weakness and with no choice but to accept deals which work to their detriment.

At the same time the government allows the public to make its' own decision on vitamins and herbal products, spending billions to do so. But if you and your doctor want to try a drug with minimal side effects, that has not yet been approved by the F.D.A., you will be unable to make that decision even if it involves a critical life and death situation.

Thus the biotech industry which has the science we all would like to see developed, is in real danger of collapse. If anyone agrees, try to get the politicians in your area focused on this problem. I believe something could be done if the public got behind a change in the F.D.A. The herbal product makers have clout and will be able to withstand serious regulation because of widespread support among the masses. Do people know their kids and parents might have died when a safe drug might have been of some help but even if not, it would have done no additional harm?

Until this core problem is resolved it will take more money than even scientist with great ideas can expect the capital markets to provide given the time the capital will be needed before any return can be expected. I do not criticize the deal makers for their, "excessive", rake offs since the additional risk created by the F.D.A. are real and must be compensated for.
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