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Josh,
 
Academical research - it's a big term, the same as "Big Data".
 
I think you partially answer your question by yourself.
If all records collected are part of research and its final product - treat them as you treat the final product itself.
It is possible that after releasing the final product, part of collected background information will lead to new research, and becomes part of new new "product" with new retention period.
 
Also, it is interesting to learn the experience from the  organizations dealing with medical / pharmacutical  information. 
 
Regards,
 
Alex Babin
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