The Biden administration today began to flesh out a proposal for a new agency—modeled on the military's Defense Advanced Research Projects Agency (DARPA)—that would seek to speed the development of medical treatments by funding risky, innovative projects. The agency, dubbed ARPA-Health (ARPA-H), would be housed at the National Institutes of Health and have a 2022 budget of $6.5 billion, according to a White House spending request released today.

Few other details about ARPA-H have been released, except that it would initially focus on cancer and diseases "such as diabetes and Alzheimer's."

...Under the DARPA model, projects would not be vetted by peer reviewers, but instead, funding decisions would be made by program managers. And instead of multiyear grants, the agency would disburse awards as milestone-driven payments; program managers could also cancel projects that they decide aren't panning out.

Here is the full story, via NQ.