Where money goes and can anybody explain this?

jethro

Distinguished member
Joined
Nov 2, 2017
Messages
293
Reason
PALS
Diagnosis
09/2017
Country
HR
State
Croatia
City
ZAGREB

Kristina1

Senior member
Joined
Jan 26, 2017
Messages
693
Reason
PALS
Diagnosis
03/2017
Country
US
State
MA
City
Grafton
your own article that you posted states that the amylyx study was funded in part by the Ice Bucket Challenge. While I agree that there are better places to donate your money to than ALSA (such as ALS TDI), ice bucket challenge money did support a lot of research.
 

jethro

Distinguished member
Joined
Nov 2, 2017
Messages
293
Reason
PALS
Diagnosis
09/2017
Country
HR
State
Croatia
City
ZAGREB
your own article that you posted states that the amylyx study was funded in part by the Ice Bucket Challenge. While I agree that there are better places to donate your money to than ALSA (such as ALS TDI), ice bucket challenge money did support a lot of research.
please, could you point where article state that?
 

Nikki J

Moderator
Joined
Mar 22, 2012
Messages
8,137
Reason
PALS
Diagnosis
04/2014
Country
US
State
MA
City
Boston
Paragraph 3
The CENTAUR study was the recipient of the ALS ACT grant, and is supported by
ALS Finding a Cure®,-a program of The Leandro P. Rizzuto Foundation, The ALS
Association, the Northeast ALS Consortium, Massachusetts General Hospital
Neurology Clinical Research Institute, and was funded in part by the ALS Ice
Bucket Challenge.

i will add amylyx currently has more than 7 employees.
 

jethro

Distinguished member
Joined
Nov 2, 2017
Messages
293
Reason
PALS
Diagnosis
09/2017
Country
HR
State
Croatia
City
ZAGREB
@nikki 1. thanks, but it is not clear how was amylyx founded "in part by the IBC". supporters? how?

sponsors? it is just written:
Sponsor:
Amylyx Pharmaceuticals Inc.
Collaborator:
Massachusetts General Hospital Neurology Clinical Research Ins

never mind
2. searching for a source which says "founded by 3 students, 6,000USD, and they today have 7 employees". i know, board of directors has more than 7 people...
i'll paste it as soon as i find it.
 

lgelb

Forum Supporter
Moderator
Joined
Nov 5, 2009
Messages
7,934
Reason
Lost a loved one
Diagnosis
09/2009
Country
US
State
WA
City
Seattle
It's quite common for a company in clinical trials with their first compound to have only a handful of employees. They don't need more. A contracted clinical research organization runs the trials, study coordinators at each site implement them, outside committees monitor them, etc. Only when the therapy is heading toward the market will they need to flesh out the team. Often, the company is bought by another, or the compound is outlicensed to someone else, before they have to go to that expense.

This is the article you are referring to, I think.
 
Last edited:

Nikki J

Moderator
Joined
Mar 22, 2012
Messages
8,137
Reason
PALS
Diagnosis
04/2014
Country
US
State
MA
City
Boston
They must not be counting the dozen members of their executive board. and certainly not people like Drs Cudkowicz and Paganoni who consulted with them. Last spring they hired someone to manage global hr too. for 6 other employees? They must have a few people to answer the phone, sweep the floor and such

it seems a bit disingenuous to claim 7 employees when you have other people dealing with the fda, acting as chief science officer and so on.

I do think the 2 founders have done great things but it was with the support of a lot of established scientists and money from various organizations including ALSA with ice bucket money that the trial happened. Trials are expensive!
 

lgelb

Forum Supporter
Moderator
Joined
Nov 5, 2009
Messages
7,934
Reason
Lost a loved one
Diagnosis
09/2009
Country
US
State
WA
City
Seattle
No, Board members don't count -- they're on contracts. Nor do clinical consultants. Only W-2s. No question, they needed $ for the trials they had not raised themselves. That is common as well. Phone answerers, cleaning and the like are usually outsourced firms in that situation, so again, not employees. But all cost $.
 
Top