These new bonds could cure diseases
By Andrea Riquier
Scientists call it “the valley of death.” Pharmaceutical and medical research tends to follow a well-worn path in the U.S.: In its early stages, research is funded by the government and nonprofits, and conducted at universities and research institutes. At the end of its life cycle, when the outline of a promising drug or treatment takes shape, venture capitalists and drug companies show up with checkbooks. …And if Karen Petrou’s labor of love takes off, it’s not just medical research that could be transformed. So could the lives of millions of people like her. Petrou is the founder and chairwoman of Federal Financial Analytics, a Washington-based policy-analysis firm that’s attracted a high-powered clientele in Washington, on Wall Street, and among global central bankers for decades.