Beacon Capital's Investments Validated by the Passing of the 'Right-To-Try' Bill for Experimental Drugs
NEW YORK, June 19, 2018 /PRNewswire/ -- Beacon Capital, a venture and philanthropy arm of Beacon Pharmaceuticals, is building a "Right-To-Try" platform.
Right-To-Try legislation allows terminally ill patients access to investigational therapies - including medical devices, and biologics - that have passed basic safety and dosage testing (Phase I) with the FDA, but are not yet available to the broader public.
On May 22, the US House of Representatives passed the Right-To-Try bill for experimental drugs. President Trump signed the bill on May 30.
Beacon's platform, a global database, will match pharmaceutical companies and patients for experimental treatments. The treatments, in turn, will be standardized and administered by two top medical institutions in the US. In practice, the platform will be a patient-friendly search website providing relevant drug information and access to nearby medical facilities to receive care.
The medical institutions will be able to access patients' needs and recommend whether the therapy offered by the drug company will be suitable. Access to this resource will minimize the time required to match patients with potential treatments that may be available on each indication within the database.
With the number of promising - and potentially revolutionary - therapeutics waiting for FDA approval, the Right-To-Try bill is the last hope for those who want to take control and find options that will improve their chances of survival. Because of funding issues at many innovative small companies, and the prohibitive cost of conducting clinical trials, many life-saving drugs may never be approved by today's costs.
Beacon's platform will make these undiscovered therapies available to many patients who might otherwise never receive access. In particular, Beacon has been putting the focus on utilizing some unapproved innovative cancer therapies, anti-infectious compounds, and stem cell treatments to help those lacking alternative therapeutic options.
"At Beacon Pharma, we try to follow the general principle of George Merck, that medicine is for patients, not for profits," said Jeff Lumin, Beacon Pharmaceutical's CSO.
Beacon seeks to identify companies whose products focus on the improvement and restoration of the body's ability to regenerate healthy tissue to overcome disease-causing processes, many of which are part of the natural progression of aging. Therefore, the bulk of these emerging therapies will fundamentally aim to delay the aging process.
Appraised therapies will utilize various sources to derive stem cells, and cellular byproducts to help the body heal. Cell therapies in particular could have restorative and therapeutic effects; some will possess disease-altering responses.
"An aging population is a reality; the baby boomer generation makes up a substantial portion of the world's population, especially in developed nations. In the US, it represents nearly 20% of the American public. Drug time to market must be expedited. It requires research, improvement of clinical trials, and ample capital investment," said Nancy Torres Kaufman, Beacon's CEO.
Beacon Pharma will build and update the database and urges all companies with drugs fitting the profile under to contact us via email with information regarding your drug at incubator@beaconcapital.org.
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SOURCE Beacon Capital