For foundations dedicated to tackling rare diseases, the struggle is constant. Limited patient populations often translate to minimal commercial incentive for pharmaceutical companies to invest in research and development. This leaves countless individuals with limited treatment options and a desperate need for innovation. However, a powerful solution lies in a seemingly unlikely place: repurposing existing generic drugs.
Enter public benefit corporations (PBCs) like Fortuity Pharma, a new breed of companies legally bound to pursue both profit and social good. When a PBC focuses on pharmaceutical development, it opens exciting avenues for foundations to make a real difference. Here’s why program-related investments (PRIs) in these companies are a game-changer:
- Aligning Mission with Impact: PRIs allow foundations to directly support their charitable goals while providing below-market-rate loans or equity investments. By investing in a PBC pharma focused on repurposing generic drugs for rare diseases, foundations directly contribute to developing affordable and accessible treatments.
- Leveraging Existing Resources: Repurposing leverages years of research and safety data already available for generic drugs. This significantly reduces the time and cost associated with traditional drug development, making it a more efficient and sustainable approach.
- Fostering Sustainable Solutions: PBCs are committed to social impact alongside financial returns. This dual focus ensures that developed treatments are accessible and affordable for patients, creating a sustainable model for addressing unmet medical needs.
- Amplifying Impact through Collaboration: PRIs can attract other investors and stakeholders, creating a collaborative ecosystem dedicated to tackling rare diseases. This collective effort can accelerate research, clinical trials, and ultimately, patient access to life-changing treatments.
- Demonstrating Leadership: By investing in this innovative approach, foundations position themselves as leaders in the rare disease space. This can inspire other funders and stakeholders to explore similar strategies, driving further progress and impact.
- Creating More Impact Through Investment Returns: In many cases, investment in generic drug repurposing can generate modest returns that can be redeployed for further rare disease therapeutic development, or for other foundation goals.
Investing in a public benefit pharmaceutical corporation focused on repurposing generic drugs is not just good business; it’s a powerful way for foundations to translate their mission into tangible results. By embracing PRIs, foundations can unlock the potential of existing medications, offering renewed hope and potentially life-saving treatments to those living with rare diseases.
Fortuity Pharma’s repurposing of the generic drug amlexanox is an ideal PRI for foundations looking to make a broad impact in the rare disease community, since amlexanox has the potential read through nonsense mutations leading to premature stops in thousands of rare genetic mutation diseases.
And, getting an initial approval for amlexanox in one or more genetic diseases opens the door to test amlexanox’s ability to treat rare metabolic, cancer, motor neuron and inflammatory diseases through non-genetic mechanisms.
