Maine is speeding up its transformation to a 21st-century, biobased economy with the passing of the Renewable Chemicals Tax Credit, which will foster the production of environmentally friendly innovations—like renewable chemicals and biobased products. “In order to address the climate challenge, we must shed our reliance on fossil fuels across all sectors—from fuels to manufacturing,” said Stephanie Batchelor, VP of BIO’s Industrial and Environmental Section. “Not only will this tax credit reduce the carbon footprint from manufacturing in the state, it will create hundreds of jobs and ignite the state’s biobased economy.” The bill LD 1698, “An Act to Create Jobs and Slow Climate Change by Promoting the Production of Natural Resources Bioproducts,” was signed into law by Governor Janet Mills on March 18. BIO worked closely with the legislature and Governor’s office to demonstrate the benefits of biobased manufacturing, that can convert renewable biomass to value-added renewable chemicals and biobased products. These environmentally friendly products can reduce greenhouse gas emissions and help keep plastic out of the ocean to the benefit of the state’s billion-dollar lobster industry. “The legislation will incentivize new, climate-friendly biobased technologies to invest in Maine, fighting global climate change and creating high-paying green jobs that will revolutionize Maine’s mill town communities suffering from economic distress,” noted the Environmental Health Strategy Center in a release on the bill when it was first being considered in 2019. The bill was unanimously passed by the State Senate in June 2019, however, concerns over the tax credit structure and certificate requirements for loggers kept it from being signed into law. After addressing those concerns in an amendment, the bill was passed again by the State Legislature and signed into law. To read BIO’s testimony on the bill, click here.

BIO-Led Summit to Build Collaboration Between Biopharma Industry, Government Leaders & Scientific Experts  Responding to the rapidly evolving COVID-19 public health crisis, the Biotechnology Innovation Organization (BIO) is taking the lead by hosting a virtual summit to help companies working on treatments, diagnostics and vaccines to come together to discuss challenges and opportunities with government officials and other stakeholders.  The two-day summit will take place on Tuesday, March 24 and Wednesday, March 25, and will be led by BIO President and CEO Jim Greenwood and Dr. George Scangos, President and CEO of Vir Biotechnology. BIO Board Chairman Dr. Jeremy Levin, CEO of Ovid Therapeutics, appointed Dr. Scangos to oversee the BIO Coronavirus Collaboration Initiative, which is intended to help connect innovators with partners across both the industry and inside the federal government to combat the coronavirus. The summit will include leaders from biotech and pharmaceutical companies, global academic experts in virology and immunology, and non-governmental organizations. Those invited to participate include Ambassador Deborah Birx, Dr. Robert Kadlec, and other senior leaders from key government offices, including the U.S. Department of Defense, U.S. Department of Health & Human Services, the Centers for Disease Control and Prevention, National Institutes of Health, and the Food and Drug Administration. Information regarding confirmed guests will be provided at a later date. As an international trade association representing more than 700 biotechnology companies, BIO is playing a unique role in organizing and coordinating the activities of many of its companies. More than 45 member companies are working to address coronavirus and more than 20 have products in various stages of development. “Close collaboration between America’s biopharmaceutical companies and the U.S. government is leading the global race to develop vaccines and…