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BIO Elects New Board Directors and Section Governing Board Chairs

Boston, MA (June 5, 2018) – The Biotechnology Innovation Organization (BIO) is pleased to announce the election of 11 new board directors and several new section governing board chairs and vice chairs at the 2018 BIO International Convention.

National Bioscience Industry Report Shows $2T Economic Impact, Accelerated Venture Capital Investment & Job Growth

A study released today at the BIO International Convention shows that the U.S. bioscience industry has reached $2 trillion in annual economic impact while maintaining accelerated venture capital investment and job growth numbers. Among U.S. technology sectors, the bioscience industry has held a leading position as an economic driver and job generator.

New Bioscience Report Shows Record-Breaking Economic Impact, Accelerated Venture Capital Investment & Job Growth

BIO’s latest report shows that the U.S. bioscience industry has reached record setting annual economic impact, venture capital investment and job growth numbers. Among U.S. technology sectors, the bioscience industry is a leading economic driver and job generator across the U.S., with job growth in 41 states.

Benefit-Risk: BIO Comments on Food and Drug Administration Prescription Drug User Fee Act VI Benefit-Risk Implementation Plan

May 31, 2018

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New Report Shows Substantial Economic Costs of Chinese Delays on Ag-Biotech Approvals

Washington, D.C. (May 30, 2018) – Persistent delays in China’s ag-biotech regulatory system slows U.S. farmers’ access to new biotechnology products and costs the U.S. economy tens of thousands of jobs and billions in economic output, according to a new study released today by Informa’s Agribusiness Consulting Group (Informa). 

BIO Announces Renewable Chemicals Programming for 2018 World Congress

The Biotechnology Innovation Organization (BIO) today announced programming information for renewable chemicals at the 2018 BIO World Congress on Industrial Biotechnology. Programming will consist of four breakout sessions on Tuesday, July 17, covering all aspects of renewable chemicals. Companies profiled in BIO’s 2018 “Renewable Chemical Platforms Building the Biobased Economy” will present renewable chemical innovations and the development of new biobased materials and biopolymers. 

Compounding: BIO comments on FDA Draft Guidance Evaluation of Bulk Drug Substances Nominated for Use in Compounding Under Section 503B of the Federal Food, Drug, and Cosmetic Act

May 25, 2018

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Biotech Leader Testifies Before House Capital Markets Subcommittee

Washington, DC (May 23, 2018) – Brian Hahn, Chief Financial Officer of GlycoMimetics, Inc., provided testimony today on behalf of the Biotechnology Innovation Organization (BIO) before the House of Representatives Committee on Financial Services, Subcommittee on Capital Markets, Securities, and Investment. Hahn serves as the Co-Chair of BIO’s Finance & Tax Committee.

Biotech in Our Backyard Panel to Highlight Agricultural Innovation in New England Region

Washington, D.C. (May 23, 2018) - Even with the abundance of high-profile international companies that will converge in Boston for the 2018 BIO International Convention, it’s difficult to overstate the work that is being done in Boston’s backyard. The New England region is one of the top life sciences clusters in the world, with Boston being home to many bioscience companies. 

BIO Written Testimony for House Financial Services Hearing on Legislative Proposals to Help Fuel Capital and Growth on Main Street

Good morning Chairman Huizenga, Ranking Member Maloney, and Members of the Capital Markets, Securities, and Investment Subcommittee. My name is Brian Hahn, and I am the Chief Financial Officer of GlycoMimetics, Inc., a 48-employee public biotech company based in Rockville, Maryland. I am also the Co-Chair of the Finance and Tax Committee at the Biotechnology Innovation Organization (BIO), which represents GlycoMimetics and over 1,100 other growth-stage biotechs that are driving the search for the next generation of cures and breakthrough medicines. The ability of growing businesses to access the public markets, as supported by the JOBS Act, is of paramount importance to biotechnology innovation because investment capital is the lifeblood of scientific advancement. It costs over $1 billion to develop a single life-saving treatment, and most companies spend more than a decade in the lab before their first therapy is approved. During this long development process, virtually every dollar spent by an emerging biotech comes directly from investors. Expenses ranging from buy-in-bulk beakers to $150 million clinical trials are all funded by investment capital because biotechs remain pre-revenue through their entire time in the lab and the clinic.