Giving Compass' Take:

• Julia Hanna explains how the Kraft Precision Medicine Accelerator is working to speed up the creation and distribution of cancer therapies by eliminating systemic barriers to progress. 

• How can other funders learn from this model? Can this strategy be effective in other issue areas? 

• Learn about market-based solutions for health system improvements

With billions of dollars spent on the development of precision medicine and related cancer research over the last decade, a recent partnership seeks a new way to bring these treatments to patients more quickly: through a better business model.

Founded in 2016 with a $20 million gift from the Robert and Myra Kraft Family Foundation, the Kraft Precision Medicine Accelerator is a partnership between the foundation, Harvard Business School, and the Broad Institute of MIT and Harvard. The alliance is working to eliminate inefficiencies and bottlenecks in the precision medicine development system to speed delivery of targeted therapies to the marketplace.

“The Kraft initiative was founded with the goal of optimizing the business plan in precision medicine to accelerate new therapies to oncology patients,” says co-chair Kathy Giusti, adding that much of that work has entailed identifying high-performing organizations in the precision medicine ecosystem that are willing to collaborate and drive progress.

“We bring together the most disruptive and thoughtful leaders in this area and engage them to identify the greatest challenges and solve for them,” she says. “As we do that, we write the business plan to help accelerate treatments.”

Read the full article about a better business model to fight cancer by Julia Hanna at Working Knowledge.