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The Market in Mind - How Financialization Is Shaping Neuroscience, Translational Medicine, and Innovation in Biotechnology (Paperback)
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The Market in Mind - How Financialization Is Shaping Neuroscience, Translational Medicine, and Innovation in Biotechnology (Paperback)
Series: The MIT Press
Expected to ship within 10 - 15 working days
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A critical examination of translational medicine, when private risk
is transferred to the public sector and university research teams
become tech startups for global investors. A global shift has
secretly transformed science and medicine. Starting in 2003,
biomedical research in the West has been reshaped by the emergence
of translational science and medicine-the idea that the aim of
research is to translate findings as quickly as possible into
medical products. In The Market in Mind, Mark Dennis Robinson
charts this shift, arguing that the new research paradigm has
turned university research teams into small biotechnology startups
and their industry partners into early-stage investment firms.
There is also a larger, surprising consequence from this shift:
according to Robinson, translational science and medicine enable
biopharmaceutical firms, as part of a broader financial strategy,
to outsource the riskiest parts of research to nonprofit
universities. Robinson examines the implications of this new
configuration. What happens, for example, when universities absorb
unknown levels of risk? Robinson argues that in the years since the
global financial crisis translational science and medicine has
brought about "the financialization of health." Robinson explores
such topics as shareholder anxiety and industry retreat from
Alzheimer's and depression research; how laboratory research is
understood as health innovation even when there is no product; the
emergence of investor networking events as crucial for viewing
science in a market context; and the place of patients in research
decisions. Although translational medicine justifies itself by the
goal of relieving patients' suffering, Robinson finds patients'
voices largely marginalized in translational neuroscience.
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