Newsletter – Pre-Game Investment Category (Vol. 1, No. 3)

The World Class R&D InstitutePre-Game+ (Investment Category+)

We introduce the concept of Investment Categories. Different types of investment bring different challenges to managing the expectations and anxieties of the funding agent+ (investor) and the researchers. We introduce the four investment categories: pre-game, mid-game+, end-game+ and commercialization+. This month's featured articles describe the investment needs for pre-game. Pre-game is how we decide where and how to place our investment bets for new areas of research, i.e., new Investible Units+.

June 2010 Home Page

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The June update of the World Class R&D Institute website is now available at here. Last month we discussed Operating Models for World Class R&D. This month we begin exploration of four key R&D investment categories: pre-game, mid-game, end-game and commercialization. Pre-game decides whether or not to fund new investments (i.e., a new Investible Unit). Mid-game looks at continued funding on investments already made. End-game, obviously, is about shut down or exit. Commercialization decides whether or not to invest to develop an R&D product or service into a commercial offering. Operating models “apply” within each of these investment categories.

We start with pre-game. If we get pre-game right it facilitates our work in all the other investment categories. The key challenge is to reliably identify the small 10-20% of research investments that have blockbuster+ potential. It’s a lot of work. We will expend an order of magnitude more effort than is typically the case. This month’s front page discusses this challenge. In later months we'll explore the remaining investment categories.

There are over 20 new articles featured this month. Of note are three. Disconfirming Evidence+, The Process provides an example from medical history of how difficult and time-consuming it can be to pick winning research investments (although there were several blockbusters spawned during the history related in this article). Efficiency vs. Effectiveness is a short, fun article on the hazards of ignoring efficiencies in the quest for effectiveness. The Mystery of Patient Compliance Levels reports for the first time reliable measures of patient compliance across distinct arms of a clinical study. Browse the new articles and you’re sure to find others that pique your interest.

Alternately you can set up an RSS feed for automatic download of new articles to your personal or website aggregator.

We introduce this month the ability to browse snapshots of external websites referenced in World Class R&D Institute articles. Most are of interest only to those seeking more information on the topic in the article. A few are fun in their own right and are worth a peek. Tolerating the Uncertainty Principle is an amazingly insightful article by a 3rd year student at Harvard Medical School. Stalking Cholesterol - Feat of Japan's Dr. Endo is an interesting “forgotten history” look at the discovery of Mevacor™, one of Merck’s early blockbuster drugs. Browse the snapshots and you’re sure to find more articles of interest. The link for Browse Weblinks is found under Browse Images in the menu at the top of each page.

I will be chairing a session at the 2010 DIA in Washington DC on June 15. The topic is "The Path Toward Mini-clini's+: An Innovative Approach to R&D Effectiveness". An article on this topic is found here. I'll be in Washington DC, in and out of the conference, for the entire week. If you're there, please look me up.


Keith Ortiz
President and CEO
The World Class R&D Institute, A Non-Profit Institution

609-954-8319 (c)

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