Yesterday at World Stem Cells & Regenerative Medicine Congress 2012, Paul Kemp, CEO & CSO, Intercytex, presented about the validity of a cell therapy.
Some key points of Paul's presentation:
- Avoiding budget busting prices and ensuring the market exists in reality
- Reimbursement protocol for stem cell based therapies need to be more innovative?
- Proving the real value of a therapy and presenting the clinical added value
- How to ensure the therapy is affordable and is of significant benefit?
Paul declared in his presentation: "We are living in a great reset”: a time of creative destruction promoted by demographic change, the pharma patent cliff and a range of other factors prompting a crisis in the healthcare economy. Noting that pharma speaks of “drug able targets”. Paul suggested that the cell therapy industry should look towards “cellable targets”. He provided a powerful example in the world of drug discovery: Vertex’s lightening speed development of an FDA approved cystic fibrosis therapy.
Then, turning to orphan regulatory status, Dr Kemp warned against reducing price too soon. Returning to philosophic mood, he compared the regenerative medicine industry to the inheritors of the dinosaur world at the time of their extinction by a meteoritic impact (for which read, crisis in the healthcare economy). “A crisis”, observed Paul Kemp, “is a terrible thing to waste”.
Check back here in a couple of days for the presentation. Excellent presentation Paul!