Business Development

Biotechnology funding is cyclical in nature, but BIO is not standing by waiting for the markets to recover on their own from the 2001-02 slump. BIO's Business Development Department creates opportunities to tell the financial and business communities about biotechnology's potential; the group also hosts forums for biotech companies to find business partners. In 2002, BIO broadened its outreach programs to include several new events, expanded its partnering programs and worked to make the tax situation more equitable for biotech companies.

BIO ACTIONS
Investor Outreach Programs

• Added two new venture conferences, BIO Mid-America and BIO VentureForum East; and held a highly successful VentureForum on the West Coast.

• Initiated a program to provide buy-side and sell-side financial analysts with more detailed information about the regulatory and legislative developments in Washington that influence the market for biotech products. Briefings focused on the product-approval impact of the renewed Prescription Drug User Fee Act and the proposed FDA reorganization. The operations of the Centers for Medicare and Medicaid Services and issues surrounding follow-on biologics were also discussed extensively.

• Hosted a successful CEO and Investor Conference despite a down financial market. More than 1,500 people attended the conference, which featured 206 company presentations.

  BIO President Carl B. Feldbaum opens trading at NASDAQ

• Established the BIO Investor Relations Committee, made up of senior investor relations professionals from public and private biotech companies. This committee helps BIO structure its investor outreach programs to better communicate with the financial community.

Partnering Programs

• Set new records with the BIO-Europe meeting, the largest dedicated biotech partnering event in the world, with 1,150 attendees, 173 presenting companies, 3,500 private meetings and 8,000 meeting requests.

• Held the first BIO-Windhover Conference for partnering in Washington, D.C. Senior delegations from 16 of the 18 largest pharmaceutical companies participated. The event featured BIO and Windhover's proprietary partnering software, which helps match buyers/licensees with sellers/licensors. The meeting received rave reviews, and already most of the industry's key business development professionals consider it the elite business development meeting in the industry.

• Launched a partnership with the Licensing Executives Society to host the first Biotech Business Development Basics course. The three-day course/seminar will be held immediately before the 2003 BIO-Windhover conference in mid-April.

• Expanded participation in BIO's Business Development Committee to more than 70 individuals from pharmaceutical firms and biotech companies, as well as over 20 private companies. The committee also decided to add an International Subcommittee.

• Held BIO's largest and most successful business forum at BIO 2002, with 236 presenting companies and some 2,500 individual partnering meetings.

BIO 2002 Convention Partnering Statistics
660 companies 1,365 individuals enrolled	3,000+ estimated number of participants on-site 6,708 meeting requests pre-event	4,542 meeting requests accepted pre-event 25,584 time slot assignments	48 potential meeting time slots per company 70 locations	3,360 maximum meeting capacity (= time slots x locations)	2,526 meetings scheduled in a specific location	Unknown number of meetings took place outside of the partnering area because of lack of space

Tax Initiative

• Repositioned BIO's tax initiative. With the capital crunch threatening the survival of hundreds of biotech companies, BIO laid the groundwork to advocate a new credit for net operating loss (NOL) assets. One of Washington's most experienced lobbying firms, Clark & Weinstock, is helping with the effort.

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