ZUG, Switzerland, Aug. 23, 2019 /PRNewswire/ — Aevolve, a medical innovation platform, today announced that it will be making support for rare disease research a top priority in its blockchain-powered accelerator, which provides a pathway for alternative funding of medical innovations using token securitization and a direct marketplace for treatment reservations. Over 350 million people worldwide suffer from a form of rare disease, yet it remains a low-priority segment in terms of funding.
Aevolve CEO Rogelio Santos commented on this problem, saying, “Today, there is a gap in the way new drugs, treatments and technologies are funded and brought to market that is leaving 95% of all rare diseases with absolutely no treatment. The problem is that technologies that target these diseases are rarely funded because the market size is smaller than the more common conditions. Patients don’t care how profitable a drug is–they care about their health, their wallets, and their families. This isn’t just an economic issue, it’s a moral one.”
A Quick Look at Rare Disease
- In the US, a rare disease is any disease that affects fewer than 200,000 patients nationally. In Europe, a rare disease affects 1 out of 2,000 people.
- One (1) in 10 Americans suffer from more than 7,000 diseases to make this qualification
- Approximately 350 million people worldwide live with a rare disease.
- Ninety-five percent (95%) of rare diseases have no existing treatment.
- Fifty percent (50%) of these diseases do not even have a foundation or a research group.
- One (1) in 2 of all patients diagnosed with a rare disease are children.
- Thirty percent (30%) of diagnosed children don’t reach the age of 5.
Because of the smaller patient population and financial incentive to develop treatments for these diseases, governments have stepped in to subsidize this research so that profitability isn’t the only determining factor in the research and development of these treatments. However, governments do not assist in commercialization and bringing them to market, which has created an unmet gap between treatments and the 350 million people in need of them.
Santos elaborated on Aevolve’s role in the issue saying, “What we have is a system where patients have different priorities than those responsible for bringing these technologies to market, and what we do at Aevolve is align those priorities. By connecting patients directly to the innovators on the frontlines in the fight against these diseases, we empower them to find a market solution that traditional models never could. Instead of government subsidies we employ a market solution to a market problem which is exactly what Aevolve and the Biospheres Ecosystem are doing.”
About Aevolve AG
Aevolve is a platform that supports global medical, biotech, and life science innovation from the research and development stage to full-scale commercialization. Utilizing blockchain technology, their innovation network, Biospheres, seamlessly connects patients, investors, and innovators around the world to facilitate increased efficacy, coordination, and cooperation. This is made possible through Biospheres’ underlying asset, the AVEX token. Together, Aevolve, the Biospheres Platform, and the AVEX token, facilitate the development and commercialization of treatments and technologies that would otherwise not reach market availability. The Aevolve team includes 19 specialists in pharma, biotech, healthcare, IT and regulations, nine of them holding a PhD in their respective field.
Visit Aevolve.health for more information.
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SOURCE Aevolve AG