- What is the relationship between JDRF and the for profit firm?
- It appears JDRF is acting as a source of venture funding, what returns are expected, contracted or required?
- What percentage of JDRF expenditures towards cures is involved?
- Where is there a statement about JDRF decision makers and conflicts of interest involving investments in these IDDP firms?
- JDRF has recognized that support is needed to transition academic discovery through the process of product development, trials and approval and into the daily lives of diabetic patents.
- The partnerships are for very specific issues, bringing a product through trials for example.
- These IDDP programs allow JDRF to help improve the quality of life for T1 families by encouraging movement of for profit firms into the market place with promising therapies.
- These agreement help focus entrepreneur talent to being research through trials and to market.
- The for profit partner must meet specific milestones to qualify to receive payments.
- The for profit must demonstrate a matching commitment to the partnership program.
- If the for profit chooses not to bring products to market based on the partnership, JDRF may use the intellectual property to bring products to market with others for profit firms.
- If products come to market as a result of the partnership, the for profit will return a portion of revenue from the product to JDRF, up to a negotiated multiple of JDRF’s research support of the program.
- This return of research funding is negotiated on a case by case basis. It is a means of continuing research funding for other promising projects related to JDRF’s mission.
- While at this time these partnerships represent a fraction of total JDRF research funding (approximately 10 to 15%) it is hoped they can have a positive impact on quality of life.
- JDRF treats these partnerships as it does other research funding. Specifically they are included as research support under program activities on JDRF's financial statement of activities. They are not broken out in JDRF's annual report.
- The partnership programs are held to the same JDRF mission standards as other research expenditures and are a means of supporting specific program that are directly related to JDRF’s mission.
- JDRF has specific ethical guidelines precluding conflicts of interest2.
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3 Sangamo BioSciences, Inc. (Nasdaq: SGMO) SEC filings
4 Transition Therapeutics Inc. Financial Reports