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Published byLeslie Garrett Modified over 8 years ago
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Washington’s Life Sciences An Overview Chris E. Rivera, President
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Biotechnology’s Potential – Cure our worst diseases! Biotech therapies are helping improve the prognosis for cancer patients by increasing survival rates. U.S. Five Year Relative Survival Relates for Selected Cancers Source: National Cancer Institute, “SEER Cancer Statistics Review 1975–2006,” 2004. Available at http://www.seer.cancer.gov/.
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Reduce Our Need on Foreign Oil Potential reduction in US petroleum imports by 2022 could exceed $350 billion Economic output generated by advanced biofuels could reach: $64.2 billion by 2016 $148.7 billion by 2022 Jobs created could reach: 94,000 direct jobs by 2016 190,000 direct jobs by 2022 Total jobs impact (direct and indirect) could reach: 383,000 in 2016 807,000 by 2022 Source: “U.S. Economic Impact of Advanced Biofuels Production: Perspectives to 2030.” Bio Economic Research Associates. February 2009.
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Feed 9 Billion People Average U.S. corn yields and kinds of corn, 1865 to 2004 Sources: (1) USDA-NASS Data 2005. (2) A. Forrest Troyer 2006. “Adaptedness and Heterosis in Corn and Mule Hybrids.” Crop Science 46:528-543 (2006). Biotech crops are at the forefront of increasing agricultural yields. U.S. Department of Agriculture data on annual corn yields dramatically illustrate the extent to which crop improvements, via selective breeding and hybridization, led to large-scale yield increases from the 1960s through the mid-1990s, and how (starting in 1997) biotechnology has allowed the trend in yield gains to continue. Harnessing these biotech improvements globally is increasingly necessary to feed the expanding population.
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WA’s Life Sciences Industry
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33,519 directly employed 90,737 directly or indirectly employed One of Washington’s largest jobs sectors One of Washington’s fastest growing sectors $10.4B in state GDP $6.6B in personal income Statewide industry – nearly 70 cities have a life science organization within its borders Nearly 450 life science companies, research institutions and non- profit organizations World class research, development & commercialization; Oncology, immunology, infectious disease & regenerative medicine Therapeutic ultrasound & AED’s discovered in WA Nexus of Global Health Personalized Medicine - informatics, genomics & health care IT Bio-agriculture, bio-fuels & veterinary medicine Economic Impact
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Between 2001 – 08, jobs in WA’s life science sector outpaced the (U.S.) average nearly 2:1; Agriculture – 23% (1.9%) Drugs – 7.5% (2.3%) Devices – 4.6% (2%) Research – 57% (46%) Total – 31% (16%) And, total private sector jobs 3:1 Total WA job change – 9.9% (3.5%) Source: Battelle/BIO State Bioscience Initiatives; 2010 Nationally Competitive
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One VC’s Opinion “Seattle (WA) has, from my point of view, carved out its position as the No. 3 bioscience market in the U.S. behind Boston and the San Francisco Bay Area.” Carl Weissman, Chairman and CEO of Accelerator, and Managing Director at OVP Venture Partners.
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Supporting Life Sciences Sustainability Mission: Innovation to Realization; supporting breakthrough discoveries that create better health solutions Support and help grow Washington state’s life science ecosystem Priorities: Commercialization & Translational research Capital Talent Policy Saving members $ millions Goals: Increase awareness of the importance of the sector Increase awareness of the current and future economic impact Increase funding, capital and investment in the sector Strong policy that maintains and enhances our competiveness and growth Shine the global spotlight on Washington’s Life Sciences sector!
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WBBA’s Membership Independent, 501(c)(6) 100% funded by our more than 450 dedicated members More than 100 new members joined in 2011 One of the largest state life science associations in the US 2011 Survey results 90% - established new relationships 75% - learned more about the industry 30% - saved money
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Commercialization & Translational Research Nearly 100 life science start-ups mentored by the WBBA to date
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www.lifesciencestartup.com
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Capital WINGS – The Washington Medical Technology Angel Network Launched in 2010 by WBBA to close early stage MedTech funding gap 86 opportunities screened to date 19 companies presented at 7 WINGS Investor Meetings >$3M invested in 7 WA companies by WINGS* WINGS Angels invested $2.1M *Additional $1.2M invested via “friends” of WINGS 2 more in diligence VIP (Venture Investment & Partnering) – Forum WBBA hosts VC’s and multi-national strategic partners Showcase for regional companies and researchers 5 Forums in 2011: BioWa (Japan), J&J*, Merck*, Takeda and Bayer Healthcare >45 one-on-one meetings in 2011 Program expanded to include open, sponsored presentation by each VIP Next VIP: Bristol-Myers Squibb, January 2012 Non-dilutive Capital Advocating for NIH, DoD, NCI, etc. funding sustainability LSDF sustainability
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Talent Focus: Recruitment, retention and development of talent Career Center – launched 2010 9,000 on-line job searches 136,500 views of openings 50% increase over 2010 Lab to Leader Policy Priority – Higher Education (STEM) Governor’s Higher Education Task Force Working to expand degrees & certifications for students Discussions ongoing with BIO & CSBA Networking 2012 Priority – Workforce development
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Member Benefits In 2011, our members purchased >$30 million in health care benefits, lab equipment, office supplies and much more Nearly $5 million saved! Nearly $500k returned through L&I retro program
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2012 Event Calendar
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Life Science Innovation Northwest Largest life science collaboration conference on the West Coast Largest & most diverse attendance ever! >10% of attendees from 14 countries, ex-US 70 presenting Northwest companies & organizations Hundreds of 1:1 meetings, Speed dating & Poster Alley Jim Greenwood & Steve Burrill - keynotes Expert Panels CEO’s Large multi-nationals Global Health Intellectual Property Business Development Raising Capital Partnering Much more! Don’t miss LSINW – 2012 July 10 – 12 Seattle, WA
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Recommendations “How can we ensure that the state remains strong in the life sciences?” Engaged research institutions with active leadership Available risk capital covering all stages of the business cycle Workforce and talent pool Stable and supportive business, tax and regulatory policies Patience and long term perspective “While Washington is an attractive place to live, we do need to be mindful that we are competing with states such as Massachusetts, California and New Jersey that offer outstanding career prospects for talented scientists and engineers.”
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Thank You
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Life Sciences Economic Impact “Washington state’s research universities’ success in attracting NIH funding, along with that of local private research institutions, anchors our life sciences industry.”
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