BioNJ Releases New Report: Health Equity in Clinical Trials MBA Business Case Competition: Identifying Innovative Approaches to Strengthening Diversity Within Clinical Trials

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Apr 18, 2023, 09:00 ET

(Click here for a copy for the Report.)

TRENTON, N.J., April 18, 2023 /PRNewswire/ -- During today's 13th Annual BioPartnering Conference, taking place live at The Palace in Somerset Park, BioNJ, New Jersey's life sciences trade association, released its "Health Equity in Clinical Trials MBA Business Case Competition: Identifying Innovative Approaches to Strengthening Diversity Within Clinical Trials."

The Report provides an overview of BioNJ's Inaugural Health Equity in Clinical Trials MBA Business Plan Case Competition, which took place on December 3, 2022, at Rutgers Business School and features highlights from all the submitted business plans, summaries of proposals that received top awards, and learnings from the inaugural competition. The competition was designed to promote the next generation of diverse clinical trial innovators and identify innovative approaches and successful models that can be used nationally to strengthen diversity in clinical trials and expand health equity. Awards to the top three teams were based on written proposals and in-person pitches evaluated by a panel of expert judges. Case prizes totaled $20,500. A digital resume book documents the breadth of academic and professional diversity within and across the competing teams.

BioNJ is committed to the vision of Health Equity for All. In 2022, the organization launched its Health Equity in Clinical Trials Initiative to identify long-term interventions, support companies to improve equity in their clinical trials, consider best practices and shape and impact policy. As part of this Initiative, BioNJ also introduced this first-of-its-kind MBA Business Plan Case Competition. Months of planning, drawing on resources from other health-related case competitions, conducting outreach to MBA programs and engaging content experts as steering committee members and judges preceded the launch.

In addition to the release of "Health Equity in Clinical Trials MBA Business Case Competition: Identifying Innovative Approaches to Strengthening Diversity Within Clinical Trials" at BioNJ's BioPartnering Conference, the three winning teams – 1) Johns Hopkins University, 2) Rutgers University and 3) a combined team of Baylor College of Medicine, Northwestern University & Rice University – presented their business plans to potential partners, collaborators and investors. One of BioNJ's signature events, the BioPartnering Conference brings together hundreds of life sciences executives, investors, academic collaborators and business development professionals for networking, 1-1 partnering, company and start-up pitch presentations, exhibits and plenary sessions.

"Created to grow the ecosystem and bolster medical innovation, the Conference is the perfect opportunity for our students to meet mentors, uncover possible career opportunities and move their proposed solutions forward by identifying potential partners," said Debbie Hart, President and CEO, BioNJ. "Although ultimately three winning teams were presented with cash prizes, each of our participating teams has the potential to make a difference for Patients by offering new models and technologies to better serve Patients, build community trust and address gaps in healthcare delivery. We are excited to present all of the team proposals in our Report."

"Only by improving diversity in clinical trials will we be able to deepen our understanding of the safety and efficacy of medicines for all populations. I am extremely proud of our teams. Each of the business plans offered a unique out-of-the-box solution – helping advance our ambition to leave no Patient behind." said Amadou Diarra, Ph.D., Senior Vice President, Global Policy, Advocacy & Government Affairs, Bristol Myers Squibb; Board Chair, BioNJ; and inaugural Chair of the BioNJ Health Equity in Clinical Trials Initiative.

Click here for a copy of the Report.

In addition to thanking our extraordinary teams for their commitment and time, BioNJ would like to thank our Steering Committee; industry supporters, including Bristol Myers Squibb, Medidata, Amicus Therapeutics, PTC Therapeutics, Sanofi, Insmed, PsychoGenics, Thermo Fisher Scientific, Crowley Law, PhRMA and the Rare Disease Diversity Coalition as well as our expert judges and colleagues from the Kith Collective. It was only with their guidance and support that we have been able to bring this important initiative forward. For more information on BioNJ's Health Equity in Clinical Trials Initiative, visit BioNJ.org/Health-Equity-Clinical-Trials.

About BioNJ
BioNJ is the life sciences trade association for New Jersey, representing close to 400 research-based life sciences organizations and stakeholders across the healthcare ecosystem from the largest biopharmaceutical companies to early-stage start-ups for 30 years. Because Patients Can't Wait®, BioNJ is dedicated to ensuring a vibrant ecosystem where Science is Supported, Companies are Created, Drugs are Developed and Patients Have Access to Lifesaving Medicines.

Recognized as a respected thought leader, an influential advocate and a sought-after convener of the life sciences industry, BioNJ works directly with legislative leaders in both Trenton and Washington D.C. to advance the life sciences industry, foster medical innovation and ensure health equity and healthcare affordability. With innovation as the driving force behind medical breakthroughs, BioNJ's mission is to help our Members help Patients by providing transformative resources, including access to government and industry leaders, capital and State incentives, timely educational programs, skilled talent and a value-driven purchasing program.

BioNJ is inspired by and privileged to work with those committed to improving the lives of Patients and their families around the world. For more information, visit www.BioNJ.org.

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SOURCE BioNJ