Guideline on Valuation of Research Biospecimen Collections

Area of Science:

• Biobanking and Biomedical Research
• Health Services Research

Background:

• Biobanks require significant financial resources, and some exhibit low utilization rates.
• Effective operational decisions necessitate better planning for new biospecimen collection and storage, and deliberate valuation of existing collections.

Purpose of the Study:

• To propose a guideline for valuing existing biobank collections.
• To improve biobanking efficiency and sustainability by providing a framework for assessing collection value.

Main Methods:

• A two-stage valuation process is proposed, considering "ELSI" (Ethical, Legal, and Social Implications) factors and "Biospecimen and Data" factors.
• The "initial-valuation" stage uses five key questions per factor; an "extended-valuation" stage allows for more in-depth assessment if needed.
• Valuations can be summarized, scored, and compared with similar collections within or across biobanks.

Main Results:

• The proposed guideline offers a structured approach to assess the value of existing biobank collections.
• The two-stage process allows for scalable valuation, from a quick initial assessment to a detailed extended evaluation.
• Comparison with similar collections aids in benchmarking and decision-making.

Conclusions:

• Implementing these guidelines can lead to more informed operational decisions regarding biospecimen collection, storage, and utilization.
• A systematic approach to valuing collections enhances biobank efficiency and long-term sustainability.
• This framework addresses a gap in the discussion surrounding the valuation of biobank resources.