NIH funding mechanisms are premised on the notion that smart people should be allowed to decide how to allocate moneys to other smart people engaged in basic health sciences research. Research outcomes are used by free market to produce on-going treatments (drugs and "durable medical equipment") that serve individuals afflicted by disease, but do so in a manner that has as its first priority creating an ongoing revenue stream.
For individuals suffering from type 1 diabetes and others who care about them, this is not good enough.
A cure for this disease is within reach and resources and efforts should be maximized towards this goal. A better model would be to offer a one-time prize for $5B for a one-time cure or treatment.
This incentive is large enough to encourage outside investment.