Overcoming the "valleys of death" in advanced therapies: The role of finance.

Autor: Cosma S; Department of Management, University of Bologna, Via Capo di Lucca, 34, 40126, Bologna, BO, Italy. Electronic address: simona.cosma@unibo.it., Cosma S; Marco Biagi Department of Economics, University of Modena and Reggio Emilia, Via Jacopo Berengario, 51, 41121, Modena, MO, Italy. Electronic address: stefano.cosma@unimore.it., Pennetta D; Marco Biagi Department of Economics, University of Modena and Reggio Emilia, Via Jacopo Berengario, 51, 41121, Modena, MO, Italy. Electronic address: daniela.pennetta@unimore.it., Rimo G; Department of Economics, University of Salento, Via Lecce-Monteroni, 73047, Monteroni di Lecce, LE, Italy. Electronic address: giuseppe.rimo@unisalento.it.
Jazyk: angličtina
Zdroj: Social science & medicine (1982) [Soc Sci Med] 2024 Dec 17; Vol. 366, pp. 117639. Date of Electronic Publication: 2024 Dec 17.
DOI: 10.1016/j.socscimed.2024.117639
Abstrakt: Advanced therapies are the frontier of medical research and have a relevant therapeutic potential and a profound social value. Despite this, their funding is hindered by many heterogeneous factors that obstruct their translation and survival on the market, even when approved and effective. Using an extensive bibliometric and systematic review of 174 articles published between 2001 and 2023, this study aims to identify the factors hindering the financing of advanced therapies and suggest future research lines to overcome the biomedical and economic "valleys of death". This study is the first review focused on advanced therapies from a financial perspective, and it contributes to advancing scientific knowledge in several ways. First, it highlights that finance academics paid little attention to the topic and most of their contributions are now outdated; therefore, there is the need to explore the new opportunities and solutions offered by financial innovation and the application of new technologies to financial activity. Second, it asks for an interdisciplinary approach to exploring advanced therapies' barriers from a holistic and process perspective and exploiting the social value generated by the development of innovative therapies. Finally, it analyzes the obstacles and value destroyed by the absence of an organic and coordinated process of public intervention, underscoring the imperative for further research to explore new public-private financial models and risk-sharing schemes and extend evaluation models by integrating financial and social value logic.
Competing Interests: Declaration of competing interest The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
(Copyright © 2024 The Authors. Published by Elsevier Ltd.. All rights reserved.)
Databáze: MEDLINE
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