"Biomedical companies are currently developing know-how for private use. Under these circumstances, knowledge is created, but not innovation, because innovation requires mutual fertilization between different ways of thinking," said Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN) chairman Israel Makov at a meeting between Israel Life Sciences Industry (ILSI) and biomedical company executives.
Makov also serves as chairman of ILSI, which will hold the ILSI-Biomed 2009 Conference on June 15-17 in Tel Aviv. "Globes" is providing media sponsorship of the conference.
Makov advises biomedical companies to adopt the interdisciplinary approach used in universities. He said, "Universities have created, for example, institutes for brain research, where people from different disciplines sit together, and each group tackles the problem from a different direction: physicists, algorithmaticians, biologists, and psychologists. There is no definition about how they should cooperate, but simply by being in the same place, they jointly create knowledge and ignite innovation."
Makov suggests that this model should be applied by industry, in which companies attack a single disease from different directions. He cites the example of stroke treatments being developed by Israeli companies: D-Pharm Ltd. is developing a drug to treat strokes; Aposense Ltd. is developing molecular imaging of apoptosis (programmed cell death), which can be applied to strokes; Brainsgate Ltd. developing a device for electrical Spheno-Palatine Ganglion (SPG) stimulation; and Motorika Ltd has developed devices for neuromuscular retraining of the upper extremities following a stroke.
These companies do not compete against each other and could share information and ideas about strokes and treating them, which could shorten the development procedures of the devices and treatments for all of them.
There used to be talk about synergism between companies to create a single technology-rich company. However, Makov believes in collaboration among independent companies, which would enable each company to preserve its scientific and organizational culture. "Financing is needed to carry out such a step. Who has the motivation to provide it? Maybe large pharmaceutical companies." he said.
Makov concluded by saying that the entire market would profit. "Development of cheaper drugs will save healthcare costs that threaten to bring down the entire economy."
Published by Globes [online], Israel business news - www.globes-online.com - on May 12, 2009
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