Third Annual Horizon Prize to Inspire Sustainable Solutions for Research and Care in the Rare Disease Community

Riyadh – Asdaf News:

The Horizon Prize, powered by MIT Solve, has begun its third annual global innovation challenge, according to a press release from Horizon Therapeutics plc (Nasdaq: HZNP).

Every year, the Horizon Prize asks innovators and entrepreneurs from all around the world to use their creative thinking to address a pressing problem in the rare disease community. $150,000 will be given to one winner as financing.

Because of inefficiencies, it is estimated that 85% of money for biomedical research is squandered, presenting a chance to reduce waste and duplication while boosting the effectiveness of expenditures in R&D.

1 The theme for this year is “How can we lessen the hardships on families with rare disease and lessen the environmental effect of the rare disease health care space?” seeks to find a wide variety of technology-based solutions that can address areas including, but not limited to:

• Improving the rare disease patient diagnostic journey (reducing time, cost, etc.)
• Enhancing efficiencies in clinical trials and research
• Reducing single-use products and unnecessary plastics and medical/hazardous waste throughout research and manufacturing
• Creating or promoting alternative packaging that may be reusable, recyclable or biodegradable without compromising sterility or safety
• Optimizing the transportation of supplies and treatments by addressing shipping inefficiencies, cold storage and last-mile delivery

“This year’s Horizon Prize challenges innovators to bring forward ideas that can decrease research inefficiencies while also addressing issues that rare disease patients and their caregivers face,” said Tim Walbert, chairman, president and chief executive officer, Horizon. “We have been inspired by previous winners and look forward to the ideas that this year’s participants will bring forward.”

The 2022 Horizon Prize focused on improving quality of life for those diagnosed with rare diseases. The winner, EB Research Partnership, brought a solution that addressed real-time connectivity for patients living with the rare skin disorders Epidermolysis Bullosa (EB) and served as a comprehensive, centralized platform model for the larger rare disease community.

“The funding we received from the Horizon Prize in 2022 provided us with a great foundation to further advance a centralized platform for patients with EB and their caregivers,” said Michael Hund, chief executive officer, EB Research Partnership. “Creating a comprehensive digital platform for patients living with EB has been an important step to improving quality of life and enabling more real-time collaboration between patients, families and the health care providers who can help manage their treatment.”