© Oxford University Press 2007.
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EUROPE PRIORITIZES DRUG RESEARCH
European Union Creates Its Own "Critical Path"
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To lure the biomedical industry to Europe, the European Commission (EC) is throwing out some bait. A proposed initiative under the EC's 7th Framework Programme (FP7), the European Union's primary science funding mechanism, would allocate 1 billion euros over the next 7 years to boost research on therapeutic drugs.
Called the Innovative Medicines Initiative (IMI), the proposal recommends using the funds to establish a committee that will dole out grant money to Europe-based public–private collaborations. The grants will go specifically to research that addresses bottlenecks in the drug development pipeline and will ultimately increase the flow of new drugs hitting the market. The EC is presently discussing details of the initiative internally, and the European Council is expected to vote on it by the end of this year.
IMI is similar to FDA's Critical Path Initiative, launched in 2004 in that they both aim to boost drug development. However, they
The Proposal
Collaborators Reap Rewards
Regulators in the Process
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