What happens when a venture-capitalist approach is used to fund new medical discoveries and medical treatments?
ALR's chairman, Robert Wood Johnson, IV, along with a group of business leaders and lupus researchers, created a unique research model to bridge the gap between the results-oriented focus of private industry and the disciplined approach of basic scientific research.
First, the group recruited an elite Scientific Advisory Board (SAB) made up of medical specialists and charged them with building the research infrastructure. These volunteers developed a research plan and defined a rigorous peer review process to ensure the ALR would spend money effectively.
Funding was - and continues to be - provided by the ALR's Board of Directors, which covers all administrative and fundraising expenses. In return, shareholders expect a significant return in the form of scientific research that will improve the lives of people with lupus in the near future
Because of the entrepreneurial efficiency of the organization, the ALR built a strong funding foundation in a short period of time - $50 million to date. The aggressive and focused research model has helped to secure millions of additional dollars from government and private industry sources.
Even more important, the model is working. ALR-funded projects are leading to important new discoveries, helping to bring the research bench closer to the bedside.
“We believe that innovation and risk-taking lie at the heart of discovery, and we support that.”
-Dr. Joseph Craft, Chairman,
Scientific Advisory Bord