Ethical Issues Facing Medical Venture Philanthropies
Thursday, October 12, 2023
2:30 PM – 3:45 PM ET
Location: Atlantic (Third Floor)
A growing number of nonprofit patient organizations are funding medical research in both the academic and for-profit sectors while claiming ownership stakes in the products of that research. This model of “venture philanthropy” has been hailed as a paradigm of patient-driven drug development with the potential to spur the discovery of new cures. But as mission-driven organizations act more like businesses, they must weigh the benefits of trying to accelerate medical innovation and earn financial returns against the risk that new financial entanglements will unduly influence their pursuit of patient interests. This talk will begin by exploring the concept of venture philanthropy and asking what distinguishes it from traditional modes of patient advocacy and nonprofit research support. It will then examine several ethical issues facing medical venture philanthropies, including issues involving the pricing of new therapies, institutional conflict of interest, stewardship of donor dollars, and organizational priority setting. The talk will conclude with a discussion of the broader ethical, social, and political implications of the diffusion of the venture philanthropy model.