Product Development Partnerships
Product development refers to the multifaceted, long-term, highly regulated process that brings promising new drugs, vaccines and medical devices to the populations who most need them. In fields such as HIV vaccine development, where the absence of commercial incentives can make it difficult for companies to lead this process on their own, inventors need to work in partnership with diverse stakeholders and funders to maximize the social and economic impact of their research.
Ryan Wiley, PhD, President at Shift Health, delivered an overview of product development partnerships, which exhibit three common elements:
- Defined governance mechanisms that enable appropriate participation in decision-making
- Disciplined approach to communication among partners and with stakeholders
- IP policies that balance the needs of individual partners with the objectives of the partnership.