Horizon Therapeutics plc and Massachusetts Institute of Technology (MIT) Solve Announce the Launch of the Third Annual Horizon Prize to Inspire Sustainable Solutions for Research and Care in the Rare Disease Community
Riyadh – April 25, 2023 – Horizon Therapeutics plc (Nasdaq: HZNP) today announced the launch of the third annual global innovation challenge, The Horizon Prize, powered by MIT Solve.
Each year, the Horizon Prize poses a challenge question, asking entrepreneurs and innovators worldwide to think creatively to solve a relevant issue in the rare disease community. One winner will be awarded a total of $150,000 in funding.
An estimated 85% of biomedical research funding is wasted because of inefficiencies, highlighting an opportunity to decrease waste and redundancies while increasing the impact of investments in research and development.1 This year’s question, “How can we decrease the environmental impact of the rare disease health care space and alleviate burdens for rare disease families?” 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
Learn more and submit an application here by June 23, 2023.
“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.”