From: The Honorable Juan Vargas
Sent By: scott.hinkle@mail.house.gov
Date: 3/14/2016

Dear Colleague,

Please join us for a lunch briefing (District Taco) on “How Financial Engineering Can Cure Rare Diseases” with our special guest, Dr. Roger Stein on March 15th in 2220 Rayburn from 12:00 pm – 1:30 pm.

Dr. Roger M. Stein has been actively engaged in developing, implementing and writing about new approaches to applied risk modeling and financial prediction for almost 25 years. He and his teams have developed, implemented and delivered products and services that have become industry benchmarks in banking and finance.

He is currently Senior Lecturer in finance at the MIT Sloan School of Management and also holds the position of Research Affiliate at the MIT Laboratory for Financial Engineering.  He is also an Affiliated Researcher at the Center for Risk Management Research, University of California, Berkeley.   His current research interests are in the areas of systemic risk, credit risk, model risk and validation, biomedical funding, and the interface between data mining and financial theory.  He has written numerous articles on financing biomedical innovation including, Financing Drug Discovery for Orphan Diseases“, Can Financial Engineering Cure Cancer?“, and Commercializing Biomedical Research Through Securitization Techniques.”

In addition to his academic work, Dr. Stein has held a number of senior positions in industry.  He was the Chief Analytics Officer at State Street GX, as well as Senior Managing Director of Product Strategy.  Before this he was Managing Director of Research and Academic Relations globally for Moody’s Corporation and prior to this he was President of Moody’s Research Labs (MRL), a wholly owned subsidiary of Moody’s Corporation, where he led a team of researchers and engineers charged with incubating a number of innovative quantitative technologies for assessing credit and other forms of financial risk.

Dr. Stein will discuss how biomedical innovation has become much more challenging to finance with private and public equity.  This challenge has created what industry professionals frequently refer to as the “Valley of Death” – a steadily widening funding and resource gap that exists between basic research and clinical development. This gap effectively limits the field of potential novel therapies for patients, as investors can no longer afford to risk their funds on basic research.  Financial engineering offers a novel approach to early-stage drug development that better manages risk, lowers capital cost and improves research effectiveness.  Innovative financial structures can create diverse portfolios, leverage risk-tolerant capital, and access new capital sources that are needed to support diverse biotech investments.

If you have questions about the briefing or would like to RSVP, please contact Scott Hinkle in Congressman Vargas’ office at (202) 225-8045/scott.hinkle@mail.house.gov.

Sincerely,

JUAN VARGAS                                                                                TOM ROONEY

Member of Congress                                                                           Member of Congress