Philanthropy: The next biotech frontier

Jessica HarringtonJessica Harrington, SF ’07, is driving revolutionary medical innovations to market with a funding model that is as radical as the biotech innovations she’s supporting. Dr. Harrington is a cofounder, former director, and now an advisor to Broadview Ventures, a for-profit philanthropic organization that singles out biotech innovations that would not attract traditional venture capital because of a long runway to market.

Founded in 2008, the Leducq Family Trust established Broadview specifically to accelerate the development of promising technology in cardiovascular and neurovascular disease through targeted investments in and support of early stage ventures. By making funding available at a critical moment in the development of new technology, Broadview is taking a leadership position in venture philanthropy by finding creative ways to support translational research that bring the advancements of science to the care of patients.

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  Biotech  

How strong is the dollar?

Is the dominance of the U.S. dollar waning in the international marketplace? We asked that question of MIT Sloan Fellows alumni from Sao Paulo to Moscow, and we’ll be sharing those perspectives in this forum over the next few months. We start with Jim Walker, SF ’06, COO and Head of Business Development at Private Bank-Americas, Credit Suisse. With clients all over the world, Walker’s business is as global as global business gets. Does he see an immediate threat to the hegemonic status of the dollar?

“Enduring factors drive the demand for dollars globally,” he says. “As our clients build substantial wealth in their countries of origin, they want a significant portion of that wealth to reside in the U.S.—and you have to own U.S. dollars to buy U.S. assets. Even our Chinese and Brazilian clients want their children’s assets to be U.S.-based.” Walker notes that many are willing to accept a negative yield just to park some of their wealth in the relative security of the U.S. dollar. The reason, he thinks, is fairly straightforward: among central banks, only the U.S. Federal Reserve has consistently demonstrated a capacity for timely and decisive action in times of turbulence.

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Building a better doctor

David RosenmanFeatured in FierceHealthcare’s “9 People to Watch in Healthcare,” David Rosenman, SF ’12, is changing the system one doctor at a time. Assistant Professor of Medicine at the Mayo Clinic College of Medicine and Founding Director of the Preclinical Block at the Mayo Medical School, Rosenman is creating a new breed of physicians who are well rounded and patient-centered—as adept at communication as they are at diagnosis.

Rosenman oversees the preclinical block, a transition course for medical students that takes place at the very midpoint of their medical school experience, that all-important segue between the first two preclinical and second two clinical years. The Mayo Clinic’s preclinical block is the longest and most comprehensive in medical education, spanning the breadth of healthcare—pediatrics, surgery, internal medicine, and a dozen other specialties.

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  Health Care