A firm commitment
No less a personage than Genentech chairman and CEO Art Levinson has called patents “the lifeblood of the biotech industry…crucial to spurring innovation and incenting companies to make the necessary significant investments to bring drugs to market." Law firms have been involved in the industry since its inception, first helping fledgling biotechs through the company formation process, negotiating technology licenses with universities and managing their patent portfolios. And the presence of patent attorneys at BIO -- from sessions to partnering meetings to swanky receptions -- is ubiquitous.
According to the National Law Journal, “23 law firms are each shelling out $8,500 to $100,000 for various sponsorship opportunities” during BIO, encompassing all but the highest sponsorship level (the Double Helix, province of pharma and big biotech companies). Fish & Richardson (Helix sponsor) leads all firms, followed by Wilmer Cutler Pickering Hale and Dorr (Gold sponsor). Additionally, many firms not listed as conference sponsors make their presence at BIO known by participating in various panel sessions and hosting parties. In Boston alone, firm-sponsored soirees include a clambake and events on a riverboat, at the Museum of Fine Arts and at Fenway Park. It seems law firms might be the lifeblood the BIO party circuit as well.
