Accelerating Medical Solutions One Mind for Research Annual Meeting CURING BRAIN DISEASE Los Angeles May 23, 2012

Transcription

1 Accelerating Medical Solutions One Mind for Research Annual Meeting CURING BRAIN DISEASE Los Angeles May 23, 2012 Michael Milken Chairman, FasterCures

2 Henry V

3 Henry V But we in it shall be remembered, We few, we happy few, we band of brothers, For he today, that sheds his blood with me, Shall be my brother And gentlemen in England now abed, Shall think themselves accursed they were not here, And hold their manhoods cheap whiles any speaks, That fought with us upon Saint Crispin s Day.

4 Growth of World Population and Population (millions) the History of Technology Genome Project Man Lands on Moon High-Speed Computers Invention of Airplane Industrial Revolution 2 nd Agricultural Revolution Peak of Rome Peak of Greece Internet PCs Nuclear Energy DNA Discovered Penicillin Automobile Telephone Germ Theory Railroads Watt Engine Source: Robert Fogel/University of Chicago

5 What is the most valuable real estate in the world? 1. New York City 2. Moscow 3. London 4. Dubai 5. Beverly Hills 6. Tokyo

6 What is the most valuable real estate in the world?

7 1957 America International Phone Call: ~$12/Minute

8 Cost of a 1-Minute Phone Call from the U.S. to India 1975 $ $.01 Telecommunications cost to business approaches zero.

9 Half of all economic growth in the last two centuries can be traced to medical research advances.

10 One of every five American babies born in 1900 did not live to celebrate a 5 th birthday.

11 Presidents who lost a young child John Adams Thomas Jefferson James Monroe John Q. Adams William Harrison John Tyler Zachary Taylor Franklin Pierce Abraham Lincoln Rutherford Hayes James Garfield Chester Arthur Wm. McKinley Dwight Eisenhower John Kennedy George H.W. Bush

12 Some Great Achievements in History Invention of the wheel Development of agriculture The printing press Copernican revolution Industrial and technology revolutions Extension of life expectancy

13 Worldwide Life Expectancy Growth Years Years Years 67 Years Source: United Nations Development Program

14 Photo: Ric Feld, AP 106-year-old bowler, Bill Hargrove

15 Addressing the Issues (Non-Profit Organizations) Milken Family Foundation (1982) Education reform/teacher recognition/medical research The Milken Institute (1991) Economics/public-policy research and conferences Prostate Cancer Foundation (1993) World s leading philanthropic source of support for research FasterCures (2003) Removing barriers to progress on all life-threatening diseases Melanoma Research Alliance (2007) Advancing research on the most-deadly skin cancer

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17 Milken Family Foundation Cancer Research Awards Stuart A. Aaronson, M.D. Thaddeus P. Dryja, M.D. Lawrence H. Einhorn, M.D. Bernard Fisher, M.D. Michael M. Gottesman, M.D. Edward Harlow Jr., M.D. James F. Holland, M.D. Wuan Ki Hong, M.D. Stephen B. Howell, M.D. Philip Leder, M.D. Victor Ling, Ph.D. Lance A. Liotta, M.D., Ph.D. John D. Minna, M.D. Charles Myers, M.D. Robert F. Ozols, M.D., Ph.D. Steven Rosenberg, M.D., Ph.D. Charles J. Scherr, M.D., Ph.D. Dennis Slamon, M.D., Ph.D. Robert Tijan, Ph.D. Bert Vogelstein, M.D. Thomas Waldmann, M.D. Robert A. Weinberg, Ph.D. Owen N. Witte, M.D. Ernst L. Wynder, M.D.

18 Milken Family Foundation Cancer Research Awards Dennis Slamon, M.D., Ph.D. Herceptin

19 Milken Family Foundation Cancer Research Awards Larry Einhorn, M.D. Lance Armstrong 7-time Tour de France winner

20 Milken Family Foundation Cancer Research Awards Completed pioneering work on the crucial p53 gene whose mutant form is believed to be involved in more than half of human cancers. Bert Vogelstein, M.D. - A Call to Action

21 After 20 years of supporting medical research, I heard these words: You have cancer.

22 National Cancer Summit 1995

23 From a War Of Attrition to a Plan of Attack 1. Internationalize the war on cancer 2. Invest more 3. Recruit a world-class scientific team 4. Coordinate worldwide cancer resources 5. Accelerate technology transfers 6. Push the technological envelope 7. Create a world library of organic chemicals 8. Accelerate approval of new drugs 9. Get product to market faster 10. Mobilize patients and families

24 The MARCH to Conquer Cancer September 25-26, 1998

25 National Institutes of Health Budget $US billions $30 $25 $20 $15 $10 $5 } Cumulative increase over 14 years = $192 billion Source: National Institutes of Health

26 NIH Appropriations for NCI $US billions $6.0 $5.0 $4.0 $3.0 $2.0 $ est. Source: National Institutes of Health

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29 Doing things the same old way doesn t create breakthroughs

30 How We Approached the Problem Venture-research approach Identify most-promising research not funded by the National Cancer Institute. Limit award applications to five pages. Make decisions in 60 days and fund in 90 days.

31 How We Approached the Problem Recruit human capital Prostate cancer research was labeled career suicide.

32 NIH funding increasingly goes to older researchers. In 1980, nearly 10% of all NIH grants went to young researchers - between age 31 and 33. In 2006, young researchers accounted for 1%. In 2007, more grants were given to 70-year-old researchers than those under age 30. Source: The Wall Street Journal 2/20/10

33 A New Generation of Young Medical Investigators

34 PCF s Newest Young Investigators

35 How We Approached the Problem Annual Scientific Retreat

36 How We Approached the Problem Expand collaboration Therapy Consortium Gene and Family Studies Consortium Tissue Banks PCF Nutrition Project

37 Ca P CURE = Cancer = Prostate = All diseases

38 An organization dedicated to shortening the time to find cures and better treatments for all life-threatening diseases

39 In theory, 300 mph

40 In practice, same speed as 100 years ago.

41 19 th /20 th -Century Tracks 19 th /20 th -Century Thinking

42 PHD People Helping Doctors TRAIN - The Research Acceleration and Innovation Network Philanthropy Advisory Service Partnering for Cures

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44 Ten Centers for Medical Progress The Center for Treatment and Care Innovation The Center for Prevention and Wellness The FasterCures Center for Translational Research The Center for Cancer Research Innovation The Center for Drug Development Innovation The Research Acceleration & Innovation Network (TRAIN) The Center for International Collaboration in the Biosciences The Center for Patients Helping Doctors The Center for Bioscience Regulatory Policy The Center for Philanthropy Advisory Services

45 First political cartoon in America Ben Franklin, 1754: Join or Die

46 Pharma/Biotech Today s medical research process: We need to join (public/private collaboration)

47 We ask the FDA to be perfectly certain about things that are inherently uncertain. Susan Desmond-Hellmann, M.D. Chancellor, UCSF

48 Three Solutions to Healthcare Challenges Prevention Cost reduction Research leading to cures

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51 1986 Marlboro was the world s most valuable brand

52 Obesity Prevalence Among U.S. Adults 1991 <15% >15% Source: Centers for Disease Control and Prevention

53 Obesity Prevalence Among U.S. Adults % 25-30% > 30% Source: Centers for Disease Control and Prevention

54 Only in America

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57 Obesity Rates: U.S. vs. World 2002 MEN U.S WOMEN Mexico 24.0% U.K. 21.6% 24.2% Germany 20.9% 20.4% France 7.8% 6.6% China 1.6% 1.9% Japan 1.8% 1.5% Source: World Health Organization / Estimated obesity rates for people aged 15 years and older / % 36.5% 41.8%

58 Average Annual R&D Expenditure Growth 25% % 15% 10% 5% U.S. EU Japan India Korea Thailand Malaysia Taiwan Singapore China Sources: National Science Foundation, Battelle.

59 Sovereign Wealth Funds Share by Country (US$ Billions) China $1,147 United Arab Emirates Abu Dhabi $733 Norway $611 Saudi Arabia $538 Singapore $405 Kuwait $296 China - Hong Kong $293 Russia $150 Others $830 There is $5 trillion in liquidity worldwide. Source: SWF Institute, May 2012.

60 Chronic Disease Study Failure to address chronic diseases adequately costs the U.S. economy more than $1 trillion annually.

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62 World University Ranking Life Sciences and Medicine 1. Harvard University 2. University of Cambridge 3. University of Oxford 4. Stanford University 5. Berkeley 6. University of Tokyo 7. Johns Hopkins University 8. MIT 9. Yale University 10. UCLA 11. Imperial College London 12. UC San Diego 13. National University/Singapore 14. University of Melbourne 15. University College London 16. University of Toronto 17. University of Edinburgh 18. Kyoto University 19. University of Sydney 20. University of British Columbia

63 How Can the U.S. Remain #1 in Biomedical Research Increase R&D tax incentives Cut corporate tax rates to OECD average Extend support for emerging biomedical research Fund the FDA and NIH to speed up drug development Leverage existing strengths in medical devices Build human capital for biomedical innovation Promote and expand the role of universities Source: Milken Institute

64 Accelerating Innovation in the Bioscience Revolution The Milken Institute Lake Tahoe Retreat S E P T E M B E R

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66 Outlook for Biomedical Research Spending (2012) 20% 10% 0% -10% C H I N A I N D I A B R A Z I L K O R E A J A P A N G E R A U S UK R U S S I A I T A L Y S I N G A P O R E S P A I N F R A N C E US C A N Source: OECD Government Budget Appropriations or Outlays for Research and Development (2012)

67 April 28 May 2, 2012 Finance Education Philanthropy Health Climate/Energy Media Government Regions Industries Successful Aging

68 In your hands, my fellow citizens, more than in mine, will rest the final success or failure of our course. John F. Kennedy 1961 Inaugural

69 For additional information about Mike Milken, please visit