The National Institutes of Health has joined forces with 10 biopharmaceutical companies and seven nonprofit organizations to create the Accelerated Medicines Partnership, a five-year, $230 million joint initiative geared toward producing drugs more quickly.
AMP's initial focus will concentrate on four medical conditions: Alzheimer's, type 2 diabetes, rheumatoid arthritis and lupus.
"This challenge is beyond the scope of any one of us, and it's time to work together in new ways to increase our collective odds of success," said NIH Director Francis Collins, MD, PhD, in the report.
The AMP partners have agreed to publicize all the data and analyses to the biomedical community in the hopes that they are able to develop treatments and medicines more efficiently and effectively.
According to the NIH report, the drug development process from early discoveries to approval by the U.S. Food and Drug Administration takes more than a decade, and the failure rate is approximately 95 percent. Each success costs about $1 billion.
"This type of novel collaboration will leverage the strengths of both industry and NIH to ensure we expedite translation of scientific knowledge into next generation therapies to address the urgent needs of Alzheimer's, diabetes and RA/lupus patients," said Mikael Dolsten, president of worldwide research and development of Pfizer, in the report.
For a full list of AMP partners, please click here.
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