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BIO experts weigh in on what to expect during JPM Week and how biotech could boost the economy. Plus, BIO’s John Crowley joined the White House Cell and Gene Therapy Forum last week. (646 words, 3 minutes, 13 seconds).
Due to Martin Luther King Jr. Day and Inauguration Day on Monday, January 20, we will publish our next edition on Tuesday, January 21. |
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Buzz around JPM Week partnering bodes well for biotech dealmaking, BIO says |
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Increased interest in JPM Week this year is an indication of an improved dealmaking environment for biotech, say BIO experts facilitating partnering at the event.
What's happening: A record 6,000-plus meetings were scheduled through BIO’s partnering platform ahead of the J.P. Morgan Healthcare conference and related events in San Francisco.
Why it matters: “The macroeconomic indicators that we’re seeing include very strong interest in new deals—stronger than we’ve seen over the past two years,” says Bernard Fallon, BIO Deputy VP of Industry Programs. “We can expect a lot of activity at JPM Week.”
BIO’s cutting-edge partnering toolkit includes the BIO One-on-One Partnering™ platform, which lets registrants share profiles and describe their interests, to facilitate matchmaking and schedule meetings.
BIO also provides room to network, with more than 100 meeting tables at San Francisco’s Marriott Marquis. “For many BIO partners or people using our platform, our meeting space becomes kind of their hub,” says Mackensie Vernetti, BIO VP of Partnering.
The bottom line: “This can help them obtain the capital that will ultimately enable them to get new medicines to patients,” Fallon says.
Read more on Bio.News. |
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Biotech creates jobs and economic growth, explains BIO SVP |
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America's biotech industry contributes $3.2 trillion to the economy and saves lives—but could do more with the right reforms, explains Patrick Plues, BIO SVP of State Government Affairs & Affiliate Relations, in Real Clear Health.
“Over 2 million Americans work in biotech,” Plues writes in Wednesday’s op-ed. “Moreover, every biotech job creates 3.48 additional jobs in industries like manufacturing, utilities, and healthcare, supporting eight million workers nationwide."
Biotech’s economic footprint reaches communities across the country, with thriving hubs in 34 states. “Since 2019, biotech employment has grown nearly 15% -- outpacing overall private-sector job growth,” writes Plues
“Yet the industry faces headwinds,” Plues explains: - 18 states have introduced legislation to establish Prescription Drug Affordability Boards (PDABs), which “threaten drug R&D by arbitrarily dictating how much manufacturers can charge for certain drugs. When these price caps make it impossible to recoup investment, manufacturers are forced to abandon research.”
- Price controls in the Inflation Reduction Act (IRA) discourage innovation. “Among other flaws, the IRA discriminates against small-molecule drugs,” Plues says, “giving them a shorter reprieve from price controls compared to large-molecule drugs. This penalty is distorting drug development.”
The bottom line: “Congress, the new administration, and state governments have the power to roll back these harmful policies. A more cooperative regulatory environment would spur biotech companies to hire more workers and invest in transformative research,” Plues writes. “Americans want both cutting-edge medicine and strong economic growth. Our leaders can help achieve both of those goals by fostering a thriving biotech sector.” Read the whole thing. |
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BIO’s John Crowley speaks at White House Cell and Gene Therapy Forum |
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From left: Rebecca Gardner, St. Jude / American Society for Transplantation and Cellular Therapy; Matthew Durdy, Catapult UK; John Crowley, BIO; Karen Skinner, LifeArc; Priti Hegde, Kite Pharma
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BIO President & CEO John F. Crowley moderated a panel at Wednesday’s White House Cell and Gene Therapy (CGT) Forum, urging new approaches to improve the availability of cutting-edge CGTs. “Innovation without access for all isn’t enough,” he said. “The science is hard enough, so let’s work to increase access.”
The White House also recently hosted the National Medal of Technology and Innovation awards, honoring CRISPR pioneer Jennifer Doudna, Moderna, and Pfizer.
Read more on Bio.News. |
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What Else to Read This Week
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67th person in U.S. diagnosed with avian flu—a child in San Francisco who had mild symptoms and did not need hospitalization. The news came just days after the first U.S. death caused by the virus. Researchers comparing the latest versions of the virus with those identified in 2004 found the virus “currently circulating in cattle will likely exhibit reduced human disease severity compared with historic HPAI viruses but should be closely monitored for changes,” says a report published Wednesday by the Centers for Disease Control and Prevention. Meanwhile, spread among farm fowl in the U.S. is causing egg shortages and price spikes, according to The Washington Post. |
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Beltway Report: What's Ahead in Washington
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