Can Bioprospecting Save Itself? At the Vanguard of Bioprospecting's Second Wave.

Bioprospecting has had a bumpy ride over the last twenty years. High expectations for bioprospecting peaked in 1991 when Costa Rica's lNBio program reached a signature deal with Merck Pharmaceuticals. But hopes have waned as hioprospecting has yielded few promising compounds and little in the way of conservation benefits. This paper examines the potential for bioprospecting to contribute to conservation efforts, both broadly and within the specific context of Panama. Today, global markets for hioprospecting services stand at an estimated $60 million per year. A new model for bioprospectiiig, exemplified by Panama's ICBG project, may be emerging, one that takes a more business-oriented approach to finding drugs. By using ecological insights to bioprospectors must increase the scale of their operations if they are to create sustainable entities in the Darwinian world of drug discovery. Finally, I make specific policy recommendations for improving the supply and demand of hioprospecting in Panama and globally. [ABSTRACT FROM AUTHOR]