There aren't a lot of diseases where we can point to and say we have an answer today that we didn't have a decade ago.

[Part of this enthusiasm has stemmed from recent scientific advances, especially the completion of the human genome.] That pushed us in the 1990s to do what became at that point technologically feasible, ... It added to the momentum.

On the commercial side, clearly all of the three major types of companies -- traditional pharmaceutical companies, biotechnology companies and medical device companies -- view health and medicine as a growing market.

We've seen growth and a real doubling of funding in all sectors. The proportions are really unchanged over the decade, with roughly 60 percent coming from industry and the remainder coming from government and foundations.

It raises the question ... are we getting our money's worth? Are we capturing the full value of that significant investment?

For all sponsors, the challenge is patience. Biomedical research is an inherently high risk and lengthy process.

We were surprised that the increase has been as steady over the decade and as large as it has been.