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It’s a big week—with the BIO CEO and Investor Conference kicking off in New York, Rare Disease Week happening in D.C., and the World Trade Organization (WTO) Ministerial in Abu Dhabi. Here’s what we’re watching—follow along all week! (785 words, 3 minutes, 55 seconds) |
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What’s happening at the WTO? |
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The 13th World Trade Organization (WTO) Ministerial started today in Abu Dhabi, and we’re watching for discussions about the COVID IP waiver.
Catch up: The WTO has been considering waiving IP rights for COVID-19 diagnostics and therapeutics.
The current situation: The IP waiver is on the agenda, but preparatory discussions have not produced an agreed recommendation for ministers. According to reports (and BIO's intel on the ground), the issue is not likely to disappear absent concessions on other items important to the waiver proponents.
Why it matters: The proposed expansion “would, in fact, implicate not just final products but their full supply chains due to potentially broadly covering any patent ‘required for the production and supply’ of products in scope,” said a letter from BIO and other life sciences organizations to the Biden administration.
“An expanded waiver also raises broader systemic risks, undermining U.S. technology leadership against global competitors such as China by allowing them a channel to unfairly seize American innovation to benefit their own domestic economies and workers. Finally, expansion of the waiver would embolden countries that are seeking to replicate the IP waiver concept in other international fora and for different types of technologies, including energy and environmental technologies,” continues the letter.
What could the WTO focus on instead? BIO’s VP of International Affairs, Nancy Travis, explains in Bio.News:
- Requiring faster sharing of information – such as a virus’ genome – across international boundaries to allow scientists to start their work sooner.
- Making it easier to trade and send materials for vaccine and therapeutic production around the globe, such as through the reduction of tariffs and other trade barriers.
- Addressing health system disparities, which during COVID caused vital vaccines to go to waste when some countries couldn’t get them into people’s arms in a timely fashion.
The bottom line: “Robust IP protection enables the cross-border collaboration we need to tackle the world’s greatest challenges,” she concludes – read and share the Bio.News op-ed. |
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BIO CEO & Investor Conference begins |
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NY seeks anchor tenant for cutting-edge life sciences center |
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The New York City Economic Development Corporation (NYCEDC) announced it is seeking an anchor tenant who will establish and operate a cutting-edge Life Sciences Center at the Science Park and Research Campus (SPARC Kips Bay), a first-of-its-kind life sciences innovation, career, and education hub that will anchor the industry in New York City.
What they’re seeking: “compelling proposals for life sciences centers that achieve the following policy objectives: Drive Translational Research & Development (R&D) and Commercialization, Create Interdisciplinary Partnerships, Advance Talent Development, and Integration with other SPARC Kips Bay components,” per the announcement.
The economic impact: SPARC Kips Bay is expected to generate $42 billion in economic impact over the next 30 years, along with more than 3,000 permanent jobs.
The innovation impact: SPARC Kips Bay will have up to 2 million square feet of academic, public health, and life sciences space, advancing the LifeSci NYC goal of 10 million square feet by 2030.
What they’re saying: “Life Sciences is entering an exciting new era powered by data, artificial intelligence, and machine learning. This RFEI is a historic and once-in-a-generation opportunity to build on this momentum and propel New York City’s Life Sciences ecosystem forward,” said NYCEDC President & CEO Andrew Kimball.
How to apply: The request for expressions of interest will be released Monday, March 4. Stay tuned, and visit the LifeSci NYC website to learn more.
Learn more: NYCEDC’s Andrew Kimball will be on the ground at the BIO CEO & Investor Conference today, explaining more about the announcement at 1:45 pm ET. We’ll see you there! |
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It’s Rare Disease Week, too – here’s what you should know
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February 25-28 is Rare Disease Week—and hundreds of patient advocates are descending upon Capitol Hill to advocate for policies that can support patients and rare disease R&D. All week long, we’ll be sharing key asks from BIO and patient advocacy groups. A timely priority: The Creating Hope Reauthorization Act (H.R. 7384), bipartisan legislation that would reauthorize the Rare Pediatric Disease Priority Review Voucher program for four years.
Why it matters: The program offers benefits such as expedited FDA review times and potential revenue generation for further research. With a significant portion of rare diseases affecting children and the majority lacking approved treatments, this reauthorization is vital for continuing progress in developing lifesaving treatments for rare pediatric conditions, explains the EveryLife Foundation for Rare Diseases.
But without congressional action, companies will need to receive a Rare Pediatric Designation by September 30 to remain eligible, and the FDA will no longer be able to award PRVs after 2026. In a first step, the House Energy & Commerce Health Subcommittee will include the Creating Hope Reauthorization Act as part of its legislative hearing on Thursday. Read more about the program at Bio.News. |
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President Biden’s Monday: Campaign meeting in New York.
What’s Happening on Capitol Hill: It’s Rare Disease Week on Capitol Hill—stay tuned for updates. Meanwhile, there are just five days until a partial government shutdown. |
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