Biotech Industry Continues Strong Growth in 2016; San Diego Setting Pace for State, Nation
San Diego, CA (May 17, 2017) – San Diego Mayor Kevin Faulconer joined national, state and regional leaders from the biotech industry to release the latest data showing San Diego’s record growth for the sector in economic impact, jobs and research funding from government agencies.
The life sciences will be showcased during the upcoming 2017 BIO International Convention – the world’s largest gathering of the biotechnology industry – June 19–22 at the San Diego Convention Center.
“San Diego’s booming innovation economy is leading the way on everything from drones to genomes,” Faulconer said. “That’s why San Diego is the perfect host city for BIO 2017 this June – a convention that brings together biotech industry leaders from around the world to showcase the exciting discoveries being made in life sciences.”
During a news conference held at the downtown convention center, Faulconer said the positive impact of the life sciences in San Diego County includes $33.6 billion in economic activity, based on a recently released report from Biocom. The region is home to more than 1,100 life sciences companies and more than 86 independent and university-affiliated research institutes.
Joanne Duncan, president of Membership and Business Operations for the Biotechnology Innovation Organization (BIO), said San Diego continues to be one of the top biotech clusters in the U.S. and a leader in genomics and digital health.
"Because of San Diego's continued growth and the strength of its biotech community and leadership, BIO is pleased to return here for our international convention," said Duncan. “Hosting our convention, the world’s largest, in San Diego for the third time in nine years represents the industry’s recognition of how discoveries in the field of genomics are giving patients new hope for cures.”
Faulconer said BIO 2017 is likely to attract 16,000 registrants and 2,200 companies, including 40 percent from other countries. The estimated economic impact is more than $40.4 million, he said. Faulconer said early results from a study by the San Diego Regional Economic Development Corp. (EDC) validate the positioning of San Diego as being "the center of the genomics universe."
Joseph D. Panetta, president and CEO of Biocom, said the industry has grown to employ some 183,000 workers, both directly and in attributable jobs throughout the county. Employment in the county’s life science industry has increased by 20 percent over the past five years.
Sara Radcliffe, president and CEO of California Life Sciences Association (CLSA), a statewide life sciences advocacy and business leadership organization, said California is home to more than 3,000 life sciences companies, which employ more than 287,000 people. Innovative companies in the state have more than 1,200 new therapies in the pipeline to treat debilitating conditions like cancer, heart disease and diabetes.
Steve Mento, president, CEO and co-founder of Conatus Pharmaceuticals and chairman of the San Diego Steering Committee for BIO 2017, spoke about the BIO Patient Advocacy Pavilion, which was established to elevate the profile and provide a platform for patient advocacy and venture philanthropy organizations attending the convention.
Mento also mentioned that Fisher House—which provides military families housing close to a loved one during hospitalization for an illness, disease or injury—will receive a charitable donation from BIO in conjunction with the BIO 2017 5K Run/Walk, which will kick off the convention on Monday, June 19.
Beyond the expected 16,000 attendees from 76 nations, BIO 2017 will host more than 1,800 exhibitors. The exhibit floor will feature product focus zones including the Innovation Zone, Digital Health Zone, Start-Up Stadium and BIO Talent Connect. This is the third time in the past nine years BIO is being held in San Diego.
Learn more about BIO’s registration options here. Complimentary media registration is also available to editors and reporters working full time for print, broadcast or web publications with valid press credentials.
BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.