STAMFORD, Conn.--(BUSINESS WIRE)--Dr. James M. Wilson and Alex Karnal announced today the launch of The Institute for Life Changing Medicines, a nonprofit organization, with a mission of identifying, developing and promoting access to therapies that have transformative potential but are not considered commercially viable because they are designed to treat small populations of patients suffering from rare diseases.
In the United States, one in every 10 people has a rare disease, and while breakthroughs in the advanced therapy space such as gene therapy and genome editing show great promise in treating some of these conditions, these medicines can be incredibly costly to deliver and often come with significant barriers to access. Due to the highly specific patient populations these medications target, there are often limited financial incentives for larger companies to commercialize therapeutics for rare disorders. The Institute’s goal is to identify, acquire, and develop such treatments for commercialization.
“The Institute was established to fight for the underdog and to encourage and incentivize the development of these lifesaving therapies for the patients who need them most,” said James M. Wilson, Co-Founder and Chief Scientific Officer of The Institute for Life Changing Medicines. “Solving for the industry’s accessibility obstacles is not an easy feat, but we are working to ensure no patients are left behind around the globe.”
The Institute’s innovative financial model utilizes a margin producing strategy that reinvests its profits into future programs. This self-sustaining model will allow the Institute to deliver lifesaving medicines to patients who may otherwise be left behind.
“Next generation medicines including cell and gene therapies have enormous therapeutic potential for these people but developing and scaling these treatments can be very challenging and incredibly costly to develop,” said Alex Karnal, Co-Founder and Chief Executive Officer of The Institute for Life Changing Medicines. “We are excited to have developed a strategy to deliver these lifesaving therapies to the patients who need them most.”
The Institute has assembled an all-star cast to support its mission. Aside from Alex Karnal and James Wilson, the Founders include the late Tachi Yamada, as well as Board Members Judith Lea Swain, Monique Molloy and Julian Harris. In addition, the Leadership Team includes Lawrence Atinsky as COO & General Counsel, Anshul Mangal as Chief Strategy Officer, and Bryan Sendrowski as Chief Financial Offer.
About The Institute for Life Changing Medicines
The Institute for Life Changing Medicines believes that a healthy life is a basic human right. The Institute identifies, develops, and promotes access to life changing medicines that are designed to treat small populations of patients and are therefore not considered commercially viable. The organization’s pipeline of next generation medicines includes cell and gene therapies for the treatment of rare diseases. Visit https://www.lifechangingmedicines.org/ to learn more.