Good Day BIO: An unprecedented plea for climate action

September 13, 2021
Before we begin a busy Monday, we’re remembering Frederick Frank, a “founding father” of biotech investment, who passed away Saturday. Ahead of the UN General Assembly, we also look at an unprecedented editorial on the health impact of climate change as well as NIH…
BIO

Before we begin a busy Monday, we’re remembering Frederick Frank, a “founding father” of biotech investment, who passed away Saturday. Ahead of the UN General Assembly, we also look at an unprecedented editorial on the health impact of climate change as well as NIH programs to advance innovation and diversity. (850 words, 4 minutes, 15 seconds)

 

In Memoriam: Fred Frank

 
 

Frederick Frank, “one of the founding fathers of biotech investment banking,” passed away Saturday at 89

As Wall Street’s first pharmaceutical analyst, he was known for what BioCentury calls “visionary dealmaking,” including constructing the first Genentech-Roche deal that led to many lifesaving innovations. 

"Fred Frank was in the front row at EVERY Biotech CEO event, always participating, always adding enormous value," said BIO's Chair Paul Hastings. "Additionally, every time someone goes through a major event, good or bad, one gets an 'atta person' note or an 'I’m thinking of you' note. Fred will be greatly missed, including all the social presence on social media and in person."

“Fred helped form the infrastructure that today holds together one of the greatest strategic assets of the industrial base of the United States,” write past BIO Chair Jeremy Levin of Ovid Therapeutics and Paul Sekhri of eGenesis Inc. “His fingerprints and influence are to be found on nearly every major transaction that has led to the ecosystem that today supports the companies that invest in and produce new technologies, medicines, and diagnostics to save lives.”

Watch BIO’s 25th anniversary video explaining more about Frank’s legacy and his role in making BIO and the biotechnology industry what we are today.

 
 
 
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Medical journals make unprecedented plea for climate action

 
 

In an unprecedented coordinated action, more than 200 medical journals published a joint editorial calling climate change our most pressing health challenge and urging UN members to take meaningful action at the General Assembly. 

“The greatest threat to global public health is the continued failure of world leaders to keep the global temperature rise below 1.5°C and to restore nature,” says the editorial. Rising temperatures “and the continued loss of biodiversity risk catastrophic harm to health that will be impossible to reverse.”

It’s also a threat to food supply: “Global heating is also contributing to the decline in global yield potential for major crops.” 

“Equity must be at the centre of the global response,” because climate change is driven by the richest countries, but disproportionately affects poorer countries and vulnerable populations. 

The kind of robust worldwide reaction to COVID-19 is needed on climate. “Targets are easy to set and hard to achieve,” they warn. “They are yet to be matched with credible short-term and longer-term plans to accelerate cleaner technologies and transform societies.”

“Reflecting the severity of the moment, this editorial appears in health journals across the world,” explained the participants, including major journals like the Lancet and New England Journal of Medicine. While journals sometimes publish jointly, there has never been such wide-scale simultaneous publication.  

The editorial comes ahead of the UN General Assembly, which begins tomorrow and includes discussion of a resolution on climate

So, what’s the solution? “We have to science our way out” of climate change, BIO’s Dr. Michelle has said—read what she wrote in STAT News about why we must advance biotechnology to respond to climate change.

 
 
 
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How we can advance DEI through seed funding

 
 

Tomorrow (Tuesday), BIO and NIH will host a free webinar on how we can boost diversity, equity, and inclusion in biotech through funding for small, innovative biotechs.

NIH’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs provide funding for innovative startups and SMEs that engage in R&D with a strong potential for technology commercialization. 

Small and startup biotechs are often at the forefront of innovation—and the more than $1 billion available in seed funding from SBIR/STTR has an outsized impact on new cures and technologies. 

Along with advancing innovation, SBIR/STTR have a stated goal of encouraging “participation in innovation and entrepreneurship by socially and economically disadvantaged small businesses (SDB) and women-owned small businesses (WOSB).” 

On Tuesday, September 14, BIO’s Dr. Michelle McMurry-Heath will lead a conversation about how these programs work with NIH leaders: Todd Haim, Office of Small Business Research, National Institute on Aging; Lili M. Portilla, National Center for Advancing Translational Sciences; and Megan Ryan, National Institute on Alcohol Abuse and Alcoholism. Also joining is Eric W. Padmore of NIH’s grants office.  

Get more details and register now.

 

More Health Care News: 

FDA: FDA will follow the science on COVID-19 vaccines for young children
“Many of our team at the FDA are parents and grandparents themselves, and our team shares the same concerns as many in our country about protecting our loved ones from COVID-19. We are therefore also eager to see COVID-19 vaccines available for young children. We also know that we all share the interest in making sure this process is done with safety at top of mind.”

 
 
 
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President Biden’s Monday: Following visits to the National Interagency Fire Center in Idaho and an aerial viewing of the Caldor Fire, he will deliver remarks in Sacramento, CA, on the administration’s response to wildfires and how the Bipartisan Infrastructure Deal and Build Back Better Agenda would strengthen resilience to climate change. Meanwhile, Surgeon General Vivek Murthy defends President Biden’s vaccine mandate as “neither illegal nor unusual,” says POLITICO

What’s Happening on Capitol Hill: Back to work following the August recess, and Congress has until the end of the month to avoid a government shutdown, per POLITICO. Today, the House Energy & Commerce Committee’s markup of the Build Back Better Act will include discussion of a drug pricing proposal that would allow Health and Human Services (HHS) to negotiate prices of certain drugs directly with drug manufactures (a.k.a. price controls). JudiciaryFinancial Services, and Veterans Affairs will also mark up the budget.

 
 
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