Nonprofit Funding Bio-Tech Company
Multiple Sclerosis Society Hopes Money Will Develop Cure
POSTED: 8:08 pm MST December 29,
2008
UPDATED: 9:47 pm MST December 29,
2008
The downturn in the economy has some people cutting back on their medications because they just can't afford them. They are not alone. Several small pharmaceutical and bio-tech companies are also feeling the pinch and on the verge of closing.The National MS Society said it can't afford to lose a drug research company, so it’s funding one.
“We became aware that there are a number of drug therapies that are being held within small bio-tech and pharmaceutical companies and we realized that if not for the National MS Society, who?” said Carrie Nolan, president of the Colorado Chapter of the National MS Society. “Who is going to bring treatments, effective treatments and promising research to the market?”The society said this donation is so important because money devoted to MS research is lagging behind other diseases in this tough economy. Suzanne Beer, a volunteer at the MS Society who has MS, said this is incredibly powerful news.“It is amazing, it is hopeful and I am very excited to hear it,” said Beer.Beer was diagnosed with MS 14 years ago. Multiple sclerosis is an auto-immune disease that affects the central nervous system.“It was very emotional to think my life was over,” said Beer. “In 1994 they just sent you home and said get some rest. It was really scary and now it is really hopeful.” There are six drugs that stem the progress of the disease, but there is no cure and nothing to reverse the damage, at least for now. Fast Forward, a subsidiary of the MS Society, devoted to bridging the gap between research and drug development, gave $1 million to a Belgium bio-tech company called Apitope to fund clinical trials on an MS vaccine.“Our goal is to raise $30 million so we can continue to fund these new promising drugs and treatments that are sitting inside these bio-techs,” said Nolan. These new drugs could mean the activities that most people take for granted will again be a simple reality for Beer.“It would mean that I wouldn't have to worry about playing tag with my son or playing with some of his Christmas toys outside, and I can run without having to worry about where my cane is,” said Beer. “The little things we all take for granted.”Fast Forward and the MS Society plan to fund two more bio-tech or pharmaceutical companies in 2009.
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