The cause that saves lives: The case of medical philanthropy

The cure for cancer might come soon in the hands of a group of Seattle-based biologists. With a $100 million endowment from Microsoft co-founder Paul Allen, the scientists will be able to unlock how cell damage eventually leads to the development of cancer and other serious illnesses, and from there, find a way to treat them permanently.

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Centuries after being widely practiced, philanthropy has gone beyond the act of giving doles for the sake of personal fulfillment. Many altruistic endeavors of late are inspiring change in ways that proactively yield a remarkable social impact. Among these, medical philanthropy is a field that has been getting bigger attention and financial support.

Countless billionaires have channeled their bequests or donated one-time or periodic cash gifts to hospitals and medical research facilities that are currently seeking for cures to some of the world’s rarest and most challenging diseases.

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For one, the philanthropic acts of Spectrum Business Ventures and its co-owner Amit Raizada are as diverse as its corporate portfolio. The use of global positioning system to save the lives of patients undergoing heart surgeries was made possible by a grant from the Raizada family foundation. Likewise, SBV’s corporate responsibility arm has pooled a generous sum of money for Autism Speaks, an organization focused on research, advocacy, and service for children inflicted with the neurodevelopmental condition.

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A newer but just as noble form of giving is pouring a sizable amount of venture capital to fund potentially income-generating marvels in medical research. The nonprofit CureDuchene, an organization committed to finding a cure for a rare form of muscular dystrophy, was able to raise enough funds for the research and development of drugs for treatment. Currently, three of these drugs have completed their respective trial phases and are awaiting approval from the Food and Drug Administration. With medical philanthropy, hope can indeed shine for presently despairing health conditions.

Besides engaging in a diverse spectrum of companies and other holdings, Amit Raizada and his team at Spectrum Business Ventures are committed to funding causes that matter most to the community. Learn how SBV serves as an inspiration for change through this website.

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