Updating an Outdated Model
Today, our approach to fighting global health threats is not working. Many dangerous illnesses still lack efficient prevention or treatment options and continue to affect millions of people every day. A single clinical trial can cost between $800 million and $1.4 billion, but 90% of them end in failure. Funding for research initiatives is controlled by governments and institutions and critical data exists in silos around the world, limiting scientific progress. Globally, we spend around $7 trillion each year on healthcare. We’re clearly facing a major imbalance in our system.