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Apr 16, 2015
 |  BC Innovations  |  Strategy

IMI's innovation ecosystem

How EU's IMI 2 is tackling broader projects with more stakeholders than its prior iteration

The EU's Innovative Medicines Initiative 2 is armed with a bigger war chest than the prior iteration of the public-private partnership - €3.3 billion ($3.5 billion) vs. €2 billion ($2.1 billion) - and has a much wider remit that includes bringing together more types of stakeholders across a broader swath of the innovation ecosystem.

IMI was created in 2008 as a partnership between the European Commission and the European Federation of Pharmaceutical Industries and Associations (EFPIA), and IMI's first phase saw it undertake more than 50 projects that focused on either specific diseases or broad issues such as compound libraries or the use of stem cells for drug discovery. The common thread was that virtually all of the projects were targeted at the early stages of drug discovery and development.

IMI 2 wants to go much further downstream. To do so, it is intent on engaging new types of stakeholders such as mid-cap companies - defined as companies with an annual turnover of €500 million ($528.2 million) or less - non-government organizations, venture philanthropies and patients. By comparison, IMI 1 excluded mid-caps and had not ironed out mechanisms through which those other entities could participate.

BioCentury sat down with Irene Norstedt, IMI's acting executive director, to discuss how IMI 2 plans to accomplish that task and what the partnership is doing differently from IMI 1.

Excerpts of the conversation with Norstedt follow.

BioCentury: What were lessons learned with IMI 1 that you want to carry forward?

Irene Norstedt: The real success was...

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