In 2007, a European regulation created a public-private partnership called the "Joint Technology Initiative on Innovative Medicines" (IMI) (1). Its founding members were the European Commission and the European Federation of Pharmaceutical Industries and Associations (EFPIA), with both parties represented equally on the governing board (a)(l). The official objective in creating the MI was to improve the drug development process, so that the pharmaceutical sector could produce safer, more effective new drugs in the long term. The IMI's short-term aims included: fostering a coordinated approach to support research and development at a "pre-competitive" stage and determining priority areas; increasing investment in biopharmaceutical research; and promoting the involvement of small and medium-sized enterprises (SMEs) (Art. 2 of the Regulation) (1).
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