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Two reports you need to know about today. First, a new report released by BIO and CSBA with TEConomy finds the U.S. biotech industry is a major economic driver in all 50 states and explores why investment is booming. Second, WHO released the first-ever list of fungal priority pathogens, with 19 fungi we need to pay attention to. (552 words, 2 minutes, 45 seconds) |
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U.S. biotech is a major economic driver with a broad range, says new report |
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The U.S. biosciences sector is a vital economic engine in all 50 states, Puerto Rico and D.C., providing 2.1 million jobs and a $2.9 trillion impact on the economy in 2021, according to a report published today. The report: "The U.S. Bioscience Industry: Fostering Innovation and Driving America's Economy Forward," was produced by BIO and the Council of State Bioscience Associations (CSBA) in partnership with TEConomy, a global research firm focused on economic development.
The key finding: The biosciences industry is diverse and mature, with jobs averaging 85% above the mean private sector salary and a growing demand for workers when the private sector saw a net decline in jobs overall.
Biotech investment is booming, too: “More than $197 billion was invested in U.S. bioscience companies over the last four years, and both 2020 and 2021 saw truly impressive new highs reached in biosciences VC funding,” the report says.
What’s behind it? An expanding range of possibilities in biotech and a greater sophistication among VCs. “The human genome project, completed in 2003, absolutely brought forward many, many opportunities in biology-based research and development,” explains Pete Pellerito, BIO Senior Policy Advisor and editor of the report. Now, VCs are hiring biochemists who understand the science.
Looking ahead: “The biotechnology sector is looking like one that has potential for explosive growth in the future and that’s a lot of what you see in the report,” Nick Shipley, EVP and Chief Advocacy Officer at BIO, told Bio.News. “This is where the growth is as an economy—the innovation economy.” Read the full report. Read our exclusive preview on Bio.News. |
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Life-threatening fungi are growing, says WHO |
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Yesterday, the World Health Organization (WHO) released the first-ever list of fungal priority pathogens, noting 19 fungi “that represent the greatest threat to public health” and the urgent, unmet need for R&D. “Fungal pathogens are a major threat to public health,”says the WHO. They’re “becoming increasingly common and resistant to treatment with only four classes of antifungal medicines currently available, and few candidates in the clinical pipeline.”
Fungal infections kill more than 1.6 million people globally, including 7,000 in the U.S. in 2021, reports the Wall Street Journal, though cases are likely misdiagnosed and undercounted.
And fungal infections are growing—due to factors like climate change, which is driving “greater incidence and geographic range” as fungi adapt to higher temperatures, and overuse of antibiotics/antimicrobicals, especially during the pandemic.
But drug-resistant fungi get even less attention than drug-resistant bacteria—which caused at least 1.27 million deaths globally in 2019, more than HIV or malaria, but remains a “silent pandemic” in need of research and funding.
What can we do about it? “This all ties back to the need for the PASTEUR Act, which would help support innovation to address the most critical fungal pathogens, along with those to treat the greatest bacterial threats,” BIO’s Director of Infectious Disease Policy Emily Wheeler told us.
Learn More: Tomorrow (Thursday), Center Forward will hold a virtual congressional briefing on AMR and pandemic preparedness, featuring BIO’s Emily Wheeler—register here.
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President Biden’s Wednesday: Speaking at 10:30 AM ET about “new actions to provide families with more breathing room,” then hosting a bilateral meeting with President Isaac Herzog of Israel. This afternoon, he’ll meet with Department of Defense leaders, then participate in several virtual receptions for Members of Congress.
What’s Happening on Capitol Hill: Recess. Officially less than two weeks until the midterms. |
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