it isn't only FDA per.se. The financial aspects of biomedical R&D is very peculiar. Different time - first half of 199x, different country - recently post-Soviet Russia, different scale of money ... i was involved in the project to secure financing (high tens of thousands of dollars, the project would have become profitable at the 3rd, possibly 2nd year - too long of a shot in the environment where trading in metals, vodka or electronics would bring 50-100% scale profits on the first turnaround, ie. on weeks, rare few months, time scale) for productization of some wonderful technology developed by a leading brain science institution. Well, we failed.
These days, with all the supposed and expected high/bio-tech boom and the marvelous advancements just around the corner, we see biotech layoffs, and a couple of PhD degreed with years of experience biomedical professionals i personally know here in the Valley can't get a job even at half what i'm making in the software. One of the reasons of such a state is that financing of the industry requires bigger scale, amount- and time-wise, of money, and thus is coming from banks and other institutions who have significantly decreased imnvestments following 2008. Talking about stimulus and the dirty cheap Federal money the banks have access to - it just isn't trickling down as lazily pumping the money though treasuries and QEs is much more safe way to profit from the money.
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it isn't only FDA per.se. The financial aspects of biomedical R&D is very peculiar. Different time - first half of 199x, different country - recently post-Soviet Russia, different scale of money ... i was involved in the project to secure financing (high tens of thousands of dollars, the project would have become profitable at the 3rd, possibly 2nd year - too long of a shot in the environment where trading in metals, vodka or electronics would bring 50-100% scale profits on the first turnaround, ie. on weeks, rare few months, time scale) for productization of some wonderful technology developed by a leading brain science institution. Well, we failed.
These days, with all the supposed and expected high/bio-tech boom and the marvelous advancements just around the corner, we see biotech layoffs, and a couple of PhD degreed with years of experience biomedical professionals i personally know here in the Valley can't get a job even at half what i'm making in the software. One of the reasons of such a state is that financing of the industry requires bigger scale, amount- and time-wise, of money, and thus is coming from banks and other institutions who have significantly decreased imnvestments following 2008. Talking about stimulus and the dirty cheap Federal money the banks have access to - it just isn't trickling down as lazily pumping the money though treasuries and QEs is much more safe way to profit from the money.