Good Day BIO: How COVID changed biotech

June 14, 2021
BIO Digital kicks off today—we tell you how to follow and preview new data on biotech investment. Plus, a deep dive into how the pandemic changed biotech and news from D.C. and the world. (785 words, 3 minutes, 55 seconds)
BIO

BIO Digital kicks off today—we tell you how to follow and preview new data on biotech investment. Plus, a deep dive into how the pandemic changed biotech and news from D.C. and the world. (785 words, 3 minutes, 55 seconds)

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How to follow BIO Digital:

 
 
  • Read the BIO Digital Live Blog for all the highlights, live and in real time all week long.
  • Join the conversation at @IAmBiotech and #BIODigital. Tell us what you’re learning and what’s inspiring you and maybe we’ll retweet or share!
  • Already registered? Head to the BIO Digital Hubb to plan your day.
  • FOMO getting you down? It’s not too late to register and access the educational sessions, BIO’s One-on-One Partnering platform, and more.

What we’re watching today: BIO’s Dr. Michelle joins Pfizer CEO Albert Bourla for a conversation on vaccine development (10:05 AM ET). Afternoon highlights include the FDA Town Hall (3 PM ET) and Dr. Fauci on how we can end the HIV/AIDS epidemic (4 PM ET). We’ll also discuss COVID therapeutics (12 PM ET), AMR (2 PM ET), and emerging therapeutic company investment (2 PM ET).

 
 
 
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Welcome New BIO Chairman Paul Hastings
 

How the pandemic changed biotech

 
 

Biotech reacted to the pandemic with remarkable speed, helping to change the course of history and the biotech industry itself in the process. BIO’s Dr. Michelle McMurry-Heath digs into the story in the new BIO Digital preview episode of the I AM BIO Podcast, brought to you by FUJIFILM Diosynth Biotechnologies.

The first question we had to answer: What is this new virus? “I’m not sure we’ve actually found the original source, but we do have a lot of clues about where it came from,” said Dr. William Karesh, EVP for Health and Policy at the EcoHealth Alliance. We were able to do that so quickly due to 10+ years of advances in biotechnology, particularly genomics—showing that COVID-19 was a 90-94% match for bat coronaviruses. 

He credits a One Health approach—which you can learn more about today at 11:05 AM ET. 

“Companies committed 110% of their resources to the challenge that was before them,” says Dr. Cartier Esham, BIO’s Chief Science Officer. “They had to shift resources they had, but they were committed to science.” 

One example: BIO member Twist Bioscience developed synthetic versions of the virus, eliminating the need for scientists to handle dangerous pathogens, explains CSO Aaron Sato. 

“But it wasn't like we had to do it in terms of to generate more revenue,” he adds. “We just really felt that it was a key initiative to do.” 

All of this improved the public’s perception of the industry. “Positive ratings of pharmaceutical companies went from 32% in early 2020 to 62% in early 2021,” says Ron Faucheux, Chief Analyst at Certus Insights.

And the pandemic changed the way biotech firms see themselves—listen to the whole thing to learn how. You can also get the episode via Apple, Google, or Spotify.

P.S. We just announced that U.S. Agriculture Secretary Tom Vilsack will join us later this week at BIO Digital—get the details.

 
 
 
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Emerging therapeutic company investment, by the numbers

 
 

One thing's certain in this time of uncertainty: markets have taken notice of biotechnology. Today, David Thomas, BIO’s VP for Industry Research, will present new analysis of funding and deals for 2020/2021 and launch a new clinical development pipeline tracker—and we got a sneak peek ahead of the session.

There were 64 R&D-stage biotech IPOs in the U.S. and 35 outside the U.S. in 2020, which raised $10 billion and $6.7 billion, respectively—far exceeding IPOs and funding in 2019. 

VC firms have been a key driver of increase funding for life sciences and biotechnology firms in 2020, having raised $17.9 billion for the industry in the U.S. and $11.5 billion outside the U.S—also an increase from 2019.

Who’s leading the clinical pipeline in 2021? Hats off to smaller biotech firms, which account for 5,006 ongoing programs (out of 6,506 total), representing 77% of clinical programs this year.

 
Small biotechs are behind 77% of clinical programs.
 

Looking ahead…COVID-19 is likely to be far less of an issue in the U.S. in 2021 compared to 2020, but emerging companies will likely continue to raise capital and close deals. 

Read our full preview—and tune in to the session at 2 PM ET.

 

More News: 

STAT NewsNovavax COVID-19 vaccine highly effective in late-stage trial, long-awaited results show
"The vaccine was 90% protective against laboratory-confirmed symptomatic infection."

The New York Times: The unlikely pioneer behind mRNA vaccines
“Dr. [Katalin] Kariko believed in the potential of mRNA, but for decades she ran up against institutional roadblocks.”

 
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President Biden’s Monday: Joining the NATO summit, where Afghanistan is expected to be on the agenda, according to The Washington Post. Biden is seeking to reassert American leadership at NATO, adds CNN. U.S. Trade Rep. Katherine Tai will also head to Europe for trade talks, reports Agri-Pulse

What’s Happening on Capitol Hill: FY22 budget hearings continue, with Agriculture Secretary Tom Vilsack and Energy Secretary Jennifer Granholm making appearances tomorrow. BIO’s own Phyllis Arthur, VP of Infectious Diseases and Emerging Science, will testify on vaccine-related legislation before the House Energy & Commerce Health Subcommittee tomorrow, too.

 
 
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