After the Storm: The Sun is Shining on Biotech
As the Northeast digs out from tremendous snow storms, I watched the biotech industry demonstrate its strength and vitality, its ability to fend off – and persevere through – the economic storm that recently took hold of our country. The robust activity at the 12th Annual BIO CEO & Investor Conference, held February 8 and 9 in New York City, is another indication of the strong economic potential of the biotech sector and the tremendous promise of the science to transform how we live. (The BIO CEO & Investor Conference is the largest investor conference focused on publicly traded biotech companies.)
We’re proud to say that the number of one-on-one meetings at the conference was up over 20 percent from the 2009 conference. Many of the panels were well-received – and well-attended – featuring clinical investigators, key opinion leaders and companies with upcoming regulatory and clinical catalysts. Gilead, Human Genome Sciences, Dendreon and Acorda were just some of the high quality companies that presented at the conference.
We expect to see similar activity and energy at the 2010 BIO International Convention taking place May 3-6 in Chicago, which will feature the BIO Business Forum. During the 2009 forum, a record-setting 14,202 30-minute partnering meetings, involving more than 1,700 companies took place. BIO expects the 2010 forum to continue to foster license, investments and company interactions.
Without a doubt, things still need to improve for biotech. Overall investment is down, and times are tough for many companies. Despite those obstacles, our scientists are continuing to push forward. A number of companies with strong clinical results are helping to drive and bolster investor confidence. We are hopeful that as the markets improve, investor confidence will continue to rise. And soon patients and consumers will realize the benefits of the scientific breakthroughs coming our way.