Prizes for Ideas for Cures

WSJ: Will Sharing Ideas Advance Cancer Research?. 2007-Sep-18, by Amy Dockser Marcus (paid subscription required)

Avichai Kremer, a 32-year-old who has ALS, the neurodegenerative illness also known as Lou Gehrig's disease, is co-founder of the Prize4Life, which is awarding a $1 million prize for ALS biomarker discovery. The National Institutes of Health announced this year a program called the New Innovator Award offering grants of up to $1.5 million over five years for innovative research projects that don't have extensive preliminary data.

In addition, the National Cancer Institute is helping companies find a way to collaborate in drug testing without worrying about intellectual-property issues. The medical journal the Oncologist is encouraging the publication of failed medical trials in order to bring the ideas behind these trials -- which otherwise would never see the light of day -- to a broader audience. And Mr. Goldstein's father, Alfred, with help from the family's other son, Mark, also developed a venture that aims to improve idea-sharing: Through "Project Hope," named for his late wife, Alfred Goldstein guarantees certain funding for specific projects and requires the researchers share results with each other on a regular basis.

The Gotham Prize is a particularly ambitious project that is attracting attention. The foundation of the Ira Sohn Investment Research Conference, which runs the conference as a benefit to raise money for cancer, will fund an additional $250,000 prize for the best pediatric-cancer idea submitted to the Gotham site. Ephraim Gildor, founder of Axiom Investment Advisors, is also providing financial support for the prize.