TODAY –1:30 pm –2:15 pm Conference Wide Panel: Impact 2020 Overview – MassBio Annual Meeting 2014, Royal Sonesta Hotel, Cambridge, MA
Conference Coverage for Scientific and Social Media:
Aviva Lev-Ari, PhD, RN
Panelists:
Glenn Batchelder, Founder & Board Member, Civitas Therapeutics
Katrine Bosley, Entrepreneur-in-residence, Broad Institute
Skip Irving, Partner and Managing Director, Health Advances
Terry McGuire, Co-Founder & General Partner, Polaris Partners
Moderator:
Rob Weisman, Healthcare Business Writer, The Boston Globe
IMPACT 2020: Guiding the Next 5 years for MassBio
2007 myeloma DISEASE IDENTIFIED, DANA FARBER as drug developer:
38 IPO in 2013 – MA companies,
Biotech in MA – a Model for the World – THREATS:
- NIH drop
- Future Reimbursement – HealthCare Reform
- funds for life science decreased 50% – less access to VC funding
IMPACT 2020 – Strategic Plan for five years
- Define VALUE for innovations to the Public
- Start-Up environment
- Expand MassConnect
- MassBio – assist with process of
- Renewal Mass Life Sciences Initiative
- Life science – Analytics & Information Technology – competitors: Silicon Valley, Google – cross sector dialog
- MassBio to dialogue with other entities
Moderator:
Rob Weisman, Healthcare Business Writer, The Boston Globe
Impact 2020 – Biotech Cluster strong and fragile
Terry: VC portfolio – invest globally, MassBio landscape – unique round the Globe.
45% ROI from investment in 30 companies in 30 years in MA
Sophisticated investors today – building companies.
Skip Irving: Issues are Global, even Healthcare Reform is not local, National but Int’l
payers, providers, universities, Partners, patients from the entire Globe arrives to Boston
Katrine: Students with passion to Biotech, Bankers in NYC say: I am in Boston all the Time, I love Boston
Data Crunching – Life Science Information Tech vs. Healthcare Information Technology —->>>>>> a shift, opportunities because access to data, biology complex than an analytical design of an algorithms. Broad Institute — is culturally breathing Data Crunching
Glen, Incoming President of MassBio: all constituents are HERE
Q&A
Skip; Payers, Providers ACA, new model of Operation, open to listen on drugs, Teaching Hospitals, need to survive the transition – Industry plays critical role in Pay does the road of pay upfront?
Glen: Metrics of procedures performance (Cath Lab Procedure)
Terry: Funding comes and go 1990s – not enough, last 2 years, 8 companies in MA were funded by Terri’s Company. Capital should always be a challenge. Data as a Product shorter life cycle than lab, infotech gurus at Kendall Square. Period of Reward: NOW
Glen: FOUNDATION MEDICINE – branding approach, university and industry intertwine,
in 2020: Vibrant, greater integration of Hospitals, Biology, Patients, Product
companies that had an IPO, in 2020, not all will be here, acquisition will occur.
Genzyme spun off dozens of small start ups.
Leave a Reply