BIO 2026: What's driving America's biotech future?

After 50 years of biotech, can AI help answer the next impossible question?

As the biotech industry celebrates its 50th anniversary, the conversation is shifting from the breakthroughs of the past to the possibilities ahead. On Wednesday's mainstage, Katie Couric sat down with Genentech CEO Ashley Magargee and NVIDIA Vice President Kimberly Powell to explore whether AI can help answer that next impossible question.

The challenge: Drug development still takes 10 to 15 years and costs roughly $2 billion, while "90% of all molecules that enter clinical studies fail," said Magargee.

The opportunity: Rather than replacing scientists, AI can help researchers predict which therapies are most likely to succeed and dramatically accelerate discovery.

The impact: “We've been able to design a molecule recently that usually would have taken us years to do, and we did it in a matter of months,” said Magargee.

“Science is fundamentally changing,” added Powell, “and I believe that we will create the conditions where medicines will be created not just for populations at large, but for a person of one.”

“It’s going to be not just faster computers or better algorithms or more interesting science,” concluded Magargee to applause, “it’s going to be so many more birthdays for people, it’s going to be so many more memories, and so much more time with your loved ones, and that’s going to be the impact that we’re going to have together.”

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U.S. biotech leadership protects patients and national security

U.S. biotech leadership is essential to ensure patients have access to the best medicines and America can maintain its national security, said panelists at BIO 2026.

Why it matters: When America leads biotech innovation and drug discovery, patients in the U.S. get first access to new treatments and America can respond rapidly to a public health crisis or bioterrorism threat, says a report by the Congressionally commissioned National Security Commission on Emerging Biotechnology (NSCEB).

The report recommends legislation and government action to ensure America maintains its biotech superiority. BIO supports the report, said Kelly Seagraves, BIO VP of National Security & International Affairs, who moderated a panel on biotech and security.

“We need to close the gaps in biotech policy,” said Seagraves, “to make sure we are maintaining American leadership and enabling our companies in partnership with other stakeholders, such as government, to be able to meet urgent patient needs.”

Clinical trial reform is one NSCEB recommendation that could speed development of drugs that can aid public health, noted Mike Gaffney, CEO of Cellphire Therapeutics, Inc., and BIO Board member.

What they’re saying: “As unsexy as bureaucracy sounds, it is really about getting the United States government into gear,” said Caitlin Frazer, Executive Director of the NSCEB. “Probably the most important thing that we propose is [a national biotechnology coordinator at the White House] to streamline biotechnology product regulation.” (Watch our interview here.)

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How Oregon wants to compete for biotech investment

Oregon has 75,000 life sciences jobs and roughly 2,500 connected businesses, while state leaders are pursuing faster permitting and expanded R&D incentives, said Gov. Tina Kotek in a fireside chat in San Diego.

“The DNA in Oregon is about innovation, creativity,” she said. “We like to make things in Oregon; we’ve made a lot of things over the years, and we have a very strong ecosystem in biosciences, making things people need.”

What she's proposing: Oregon is looking to expand its research and development tax credit to include life sciences while strengthening workforce development through partnerships with universities and community colleges.

“We are open to making that easier for you,” said Kotek, referring to companies looking to expand or relocate – watch our interview.

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