Bio Bonds
Unlocking Billions for Biomedical Treatment and Cure
Abstract
Every day, all of us read about early-stage success with research curing cancer, restoring vision, healing damaged hearts, renewing mental health, or restoring physical mobility. And each day when we read these stories, each of us thinks of someone we love and wish research could move faster. With more money for high-quality biomedical research, it will. With Bio Bonds, the institutional investors now largely on the biomedical-research sidelines, will finally be able to fund perhaps our most critical social- welfare goal: lengthening life, easing suffering, and facilitating independent, productive living. Legislation now moving through the U.S. Congress could make Bio Bonds a billion-dollar market reality in the next year or so, paving the way to a new social-impact construct in which the billions of institutional dollars now locked out of social- impact investing fund high-quality biomedical research secure in the knowledge that a federal guarantee backs half the risk.
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