; (2) the variations among disease and conditions needed to ensure sufficient diversification in each eye bond; and (3) the number of possible cures and treatments that are needed as determined by the Secretary, in consultation with issuers and the Director of the National Eye Institute, to ensure the successful issuance of eye bonds so as to protect the United States as guarantor of the eye bonds, including— (A) drug therapies; (B) gene therapies; and (C) artificial restoration of sight and similar mechanisms. (b) Selection of projects (1) In general The Director of the National Eye Institute, in consultation with the Director of the National Institutes of Health and the Secretary of the Treasury, shall select translational research projects to be funded with the proceeds of an eye bond. (2) Factors for selection Not later than 30 days after the date on which the final regulations are issued under subsection (a), the Secretary shall submit to the Director of the National Eye Institute factors that the Director of the National Eye Institute shall consider in making the selection under paragraph (1), including— (A) the amount of equity any intellectual property holder will hold in the project; (B) the resources any individual or institution will be required to demonstrate to ensure the ability of the individual or institution to repay the obligation under the eye bond, regardless of the success or failure of the project funded with the proceeds of the eye bond; (C) the number of projects needed to ensure diversification of risk; (D) the manner in which funded projects will be defunded if the interim goals of the project are not satisfied