The Translational Challenge in Medicine at the Nanoscale
Raj Bawa, Gerald F. Audette, Brian Reese · 2016
Still, there are thousands of nano-related products in the marketplace. While the widespread use of nanomaterials and nanoparticles in consumer products over the years has become pervasive and exposure inescapable, the 1980s and 1990s saw limited applications of these rather than the transformative applications envisioned. Even so, governments across the globe, impressed by “nanopotential,” continued to stake their claims by doling out billions for research and development (R&D).4 Boundaries between science, government and industry continue to be blurred. Venture has mostly shied away in recent years, though industry-university alliances have continued to develop. Stakeholders, especially investors and consumer-patients, get nervous about the “known unknown” novel applications, uncertain health risks, industry motives and general lack of governmental transparency. Wall Street’s early interest in nano has been somewhat limited over the years, from cautionary involvement to generally shying away, partly due to these issues. In spite of anemic nanoproduct development, there is no end in sight to publications, press releases, patent filings and patent grants. Universities and small businesses have jumped into the fray with industry with the clear intention of patenting as much nano as they can grab.Many consider nano to be a repackaging of old terms, ideas and technologies. In this context, the following excerpt pertaining 4Nano-developments are often driven by what some of us refer to as “nanopotential.” This is obviously true more for certain sectors of nanotech than others. In this regard, one of the most widely cited predictions was in 001 when a National Science Foundation (NSF) report was released that forecasted the creation of a trillion dollar industry for nanotech by 015. This report, now proven false, was often quoted in articles, business plans, conference presentations and grant applications. See: National Science Foundation (001). Societal Implications of Nanoscience and Nanotechnology. Available at: https://www.wtec.org/loyola/nano/NSET.Societal.Implications/nanosi.pdf (accessed on February 1, 2016). Given such flawed projections, Michael Berger of Nanowerk accurately pointed out: “These trillion dollar forecasts for an artificially constructed “market” are an irritating, sensationalist and unfortunate way of saying that sooner or later nanotechnologies will have a deeply transformative impact on more or less all aspects of our lives.” See: Nanowerk Spotlight. (007). Debunking the trillion dollar nanotechnology market size hype. Available at: https://www.nanowerk.com/spotlight/spotid=179.php (accessed on February 1, 016). There are also various technical reports highlighting the potential market for nanotech. Again, one must take all such predictions with caution and not draw too many conclusions therefrom (“A good decision is based on knowledge and not on numbers.”—Plato).