There is substantial controversy around the contributions of different sectors in the biomedical research community towards the creation of highly innovative products. Emerging research has also pointed to the valuable, yet under-recognized, role played by public investment. By contrast, the pharmaceutical industry has long contended that it is responsible for most new medicines. In recent years, some large academic centers have actively sought out private funding, including venture capitalists, in supporting their research.
What are the implications of different economic models of funding biomedical sciences for the types of products that emerge, and for the ultimate goal of improving patient care options?