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A new report released by BIO highlights the potential of the bioeconomy – if we give it support. Plus, more news on federal funding for bird flu interventions, the need to invest in women's health, and more. (691 words, 3 minutes, 27 seconds) |
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Report: Bioeconomy’s potential is huge, and requires regulatory framework updates to unleash it |
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The bioeconomy—biotech in food, agriculture, and manufacturing—could grow to contribute $416 billion to the U.S. economy by 2030 if we realize its full potential, says a report released today. The situation: The bioeconomy has a direct impact of $210 billion on the U.S. economy and a broader indirect impact of $830 billion, and supports roughly 430,000 jobs, says the report, conducted by Kearny for BIO.
Why it matters: If we don't take full advantage of the bioeconomy, we risk losing out on tens of billions in growth in the U.S. economy over the next five years, and even more in the longer term.
Biobased products could add $345 billion to GDP by 2030. Drivers include USDA’s BioPreferred program and new technologies, while potential barriers are competition from Asia, challenges upscaling, and uncertain Renewable Fuel Standard policy.
Animal products could add $39 billion. Drivers: increased pet spending, demand for pet and livestock treatment, advanced breeding tools, and gene editing for disease resistance and functional traits. Barriers: inefficient and outdated regulation.
Plant products have a $32 billion potential. Drivers: expansion beyond row crops, more biotech tools, specialized applications for modified crops. Barriers: time-consuming trade barriers, inconsistent regulation for non-transgenic biotech traits and biofertilizers, and political trade barriers.
BIO’s view: “The success of America’s economy increasingly hinges on our ability to innovate and develop cutting-edge solutions that benefit American farmers and ranchers, manufacturers, energy producers, retailers, and consumers,” says Sylvia Wulf, BIO’s Interim EVP & Head of Agriculture and Environment. Read the report. Read more on Bio.News. |
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USDA offers $100 million for bird flu solutions, including vaccines
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The U.S. Department of Agriculture (USDA) on Thursday announced $100 million to fund vaccine development and other biotech solutions to avian flu.
Why it matters: USDA has not yet called for vaccinating fowl to combat avian flu, but this call indicates that “USDA is exploring the viability of vaccinating poultry for HPAI.”
What they’re funding: Applications are being accepted until May 19 by USDA’s Animal and Plant Health Inspection Service (APHIS) for research proposals to: - Develop novel therapeutics and improved diagnostics for HPAI in poultry;
- Further understand risk pathways of avian influenza for producers and inform improved biosecurity and response strategies;
- Development of novel vaccines to protect poultry from HPAI.
What USDA says it wants from a vaccine candidate: - Well matched to circulating clades
- Compatible with the ability to differentiate vaccinated from infected animals (DIVA)
- Compatible with serologic testing schema
- Providing sterilizing or long-duration immunity
- Requiring hands-off delivery for protection in chickens and turkeys
- Safe, potent, effective
A federal consensus: USDA said the call was made “in consultation with the U.S. Department of Health and Human Services (HHS), the Centers for Disease Control and Prevention (CDC), the National Institutes of Health (NIH) and the Food and Drug Administration (FDA).” The bottom line: Any decision to use a vaccine would involve those agencies, governors and veterinarians, USDA said. |
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What Else to Read This Week |
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Women’s History Month: What’s the story with women’s health? Women’s health accounts for only 5% of the biotech pipeline, but addressing the women’s health gap could boost the global economy by $1 trillion annually by 2040, says a 2024 McKinsey study. Bio.News explores the challenges and opportunities in reproductive health, autoimmune disease, diagnostics, and more.
Antimicrobial resistance (AMR) takes nearly 100 lives a day in the U.S., complicating sepsis treatment, Sepsis Alliance President & CEO Thomas Heymann explained during a BIO Patient Advocacy Coffee Chat. Although sepsis is widespread, public awareness is limited. “Once they were aided to understand it and what it meant, the issue really resonated with folks. 70% referred to it then as a major problem that was getting worse, and it was bipartisan.” Heymann said.
The Centers for Medicare and Medicaid Services (CMS) needs the patient perspective, says FasterCures Director Raymond Puerini.In a Bio.News Q&A, he explains how rash CMS policy can have a profound and lasting negative impact on innovative medicine development and access in the U.S. FasterCures is helping build the capacity of patient organizations to engage CMS and will hold a workshop for research-focused patient organizations in Washington, D.C. on April 28.
Food and agriculture support $9.5 trillion in U.S. output,says the March 18 “Feeding the Economy” report, co-sponsored by BIO. Food and agriculture support 47 million jobs and $2.8 trillion in wages—and about a fifth of total U.S. output.
“Farmers and ranchers need regulatory certainty,” Sylvia Wulf, BIO’s Interim EVP & Head of Agriculture and Environment, said in an interview ahead of the April 8-9 Animal Agtech Innovation Summit. Wulf, who will host a roundtable at the Dallas event, speaks of the need for regulatory clarity to enable innovation. “Gene editing technologies like CRISPR are revolutionizing animal breeding by enhancing disease resistance, improving environmental adaptability, and boosting productivity,” she said. |
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Bill Newell, a member of BIO’s Board and a Senior Business Advisor & Former CEO at Sutro Biopharma, is scheduled to testify tomorrow (March 25) at a House Financial Services Committee Hearing, “Beyond Silicon Valley: Expanding Access to Capital Across America.” Newell has testified in Congress before on the importance of access to capital for the biopharma industry. We'll be watching.
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