SAN FRANCISCO, Oct. 19 /PRNewswire/ -- The promise of biotech industry
growth and increased investment drew a record level of business executives,
investors and media to the BIO InvestorForum 2006 held here Oct. 18-19. The
annual InvestorForum provides investing, partnering and networking
opportunities along with presentations highlighting an exciting array of
innovative technologies and therapies to treat the world's diseases.
Hosted by the Biotechnology Industry Organization (BIO) and its
sponsors, this year the InvestorForum drew 1,166 people, including 430
investors, who participated in 823 one-on-one meetings.
"Our annual forum provides a unique opportunity for the business and
investment communities to discuss ways of advancing early- and mid-stage
companies through the research development cycle and into the market," said
Jim Greenwood, BIO's president and CEO. "Attendees also hear from some of
the world's most innovative companies as they provide insights into their
latest advancements. We are delighted each year to see the growth of the
conference, which reflects the continued growth of the industry."
Thomas Bigger, president and CEO of Boston-based Paratek
Pharmaceuticals, said, "The conference is a one-stop opportunity to
network, meet with investors and potential partners, and to talk with peer
companies. Instead of going to several different conferences that
specialize in partnering or investing, I can do everything I need to do
here."
BIO's Greenwood opened the Forum by providing his views on the
potential impact of the upcoming mid-term congressional elections on the
biotechnology industry. He also outlined the key policy issues facing the
industry in the coming year.
"From patent reform to drug safety to PDUFA our industry likely will
face a myriad of challenges as the new Congress convenes in Washington D.C.
next year," stated Greenwood. "While the industry explores the technologies
and business development opportunities discussed here this week, BIO is
prepared to meet these policy challenges to allow our industry to grow."
The InvestorForum's plenary and panel sessions build upon business and
financial issues facing the biotechnology community and are designed to
provide attendees with business solutions and up-to-date information on
industry trends.
In the opening plenary, titled, "Picking Your Financing Pathway - The
Right Model at the Right Time," finance experts considered emerging methods
of supporting a company during challenging financial environments.
Moderator James Sabry, president and CEO of Cytokinetics Inc., kicked-off
the panel discussion Tuesday morning by noting that in the current market
environment, "retaining multiple financing strategies is of utmost
importance."
In agreement with Sabry's statement, Deepa Pakianathan, panelist and
general partner, Delphi Ventures, added, "I believe we are in a cycle in
which you must take advantage of partnering and M&A opportunities -- we've
seen that there are advantages to not selling your company. I always advise
companies to take advantage of the environment, but be sure you can live
with the consequences of your actions."
Engaging in a discussion concerning various challenges facing the
industry, Farah Champsi, panelist and managing director, AltaPartners and
Alta BioPharma, said the biotechnology industry is a "tenacious, creative
industry that will find a way to survive." Others indicated that negative
pressure on the industry may ease upon confirmation of an FDA commissioner.
"I think the pending confirmation of Dr. Andrew von Eschenbach will
seal the fate of taking the negative [perception] off the table," said Kurt
von Emster, general partner, MPM Capital.
Among emerging finance solutions, the industry is witnessing growth in
venture philanthropy, which prompted BIO to add a new panel to this year's
line-up -- "How Non-Profits Can Fund Biotech Companies and Evaluate the
Science for VCs."
Panelist Diana Wetmore, vice president for Alliance Management, Cystic
Fibrosis Foundation Therapeutics Inc., said, "The advocacy panel furthered
the critical dialogue between non-profit patient organizations and the
venture community. The panel was a valuable opportunity to explain how we
achieve our purpose of lowering the risk barrier for companies and their
backers to enter into the cystic fibrosis field and to demonstrate how
investors can leverage their stake in companies with the right fit for this
disease."
During a wide-ranging discussion on the trends to watch in 2007 in the
closing plenary, Ilan D. Zipkin Ph.D., partner, Prospect Venture Partners,
commented on the recent robust mergers and acquisition activity. "In the
history of the biotechnology industry, the top six acquisitions of
privately-held biotechnology companies by value have happened in the last
18 months," Zipkin stated.
The BIO InvestorForum host sponsor was Rodman & Renshaw; co-hosts were
Bank of America and Jefferies; supporting host sponsors were RBC Capital
Markets, CIBC World Markets, and Pacific Growth; and the sponsors were
Amgen, Aquilo Partners, BioWorld Today, BMO Capital Markets, Dorsey, Ernst
& Young, Foley & Lardner LLP, HellerEhrman LLP, Johnson & Johnson, Knight,
Latham & Watkins LLP, Merck, Pfizer, PR Newswire and VWR International.
About BIO
BIO represents more than 1,100 biotechnology companies, academic
institutions, state biotechnology centers and related organizations across
the United States and 31 other nations. BIO members are involved in the
research and development of healthcare, agricultural, industrial and
environmental biotechnology products. http://www.bio.org
Upcoming Events
* BIO CEO & Investor Conference
Feb. 12-14, 2007, New York City
* BIO Drug, Device & Diagnostic Summit
December 4-5, 2006, San Diego, CA
* 2007 World Congress on Industrial Biotechnology and Bioprocessing
March 21-24, 2007, Orlando, FL
* BIO International Convention
May 6-9, 2007, Boston, MA
http://www.bio.org
SOURCE Biotechnology Industry Organization
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Related links:
http://www.bio.org/
CONTACT:
Kim Coghill for Biotechnology Industry
Organization, +1-202-369-0196
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