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The Billionaires Spending a Fortune To Lure Scientists Away From Universities
An anonymous reader quotes a report from the New York Times: In an unmarked laboratory stationed between the campuses of Harvard and the Massachusetts Institute of Technology, a splinter group of scientists is hunting for the next billion-dollar drug. The group, bankrolled with $500 million from som...
The group, bankrolled with $500 million from some of the wealthiest families in American business, has created a stir in the world of academia by dangling seven-figure paydays to lure highly credentialed university professors to a for-profit bounty hunt. Its self-described goal: to avoid the blockages and paperwork that slow down the traditional paths of scientific research at universities and pharmaceutical companies, and discover scores of new drugs (at first, for cancer and brain disease) that can be produced and sold quickly. [Stuart Schreiber, a longtime Harvard-affiliated researcher who quit to be Arenaâ(TM)s lead scientist] said it would require years -- and billions of dollars in additional funding -- before the team would learn whether its model led to the production of any worthy drugs.
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