The Health 202: Here’s a new way to raise money for medical research: Selling bonds to Wall Street
By Paige Winfield Cunningham
Want to advance hard-to-fund medical research? Get Wall Street to pay for it. That’s one way finance analyst Karen Petrou and her husband, Basil, are seeking to enlist the private sector in seeking a cure for blindness. Their idea: Packaging research loans into government-backed “Eye Bonds” and selling them to pension funds, insurance companies and other long-term investors. The loans would be for projects traditionally hardest to fund, those in the preclinical trial phase in which scientists try to connect the basic science of disease with human medicine by conducting testing on animal or tissue samples rather than people.