Pulling Together Innovation, Access and Investment

On April 19-20, 2012 the first Global Health Commercialization & Funding Roundtable was held at the University of Cambridge, UK.  The Roundtable brought together global health entrepreneurs (from both developed and developing countries), investors/funders, civil society, member state representatives and academia to explore business models in discovery, development and delivery of global health innovations.  The idea for this Roundtable stemmed from the desire to match global health conversations in innovation and access with the resource providers (investors/funders) who invest in innovation development from R&D to delivery.

Figure 1: The innovation value chain applied to healthcare[1]

The roundtable examined current partnerships between resource providers and entrepreneurs and explored the dynamics of these relationships.  In the context of tuberculosis, a major global health issue, the roundtable shared best practices in business models and promising innovations relating to vaccines, pharmaceuticals and diagnostic technologies.  The keynote address, given by Dr. Ellen Strahlman, global head of neglected tropical diseases for GlaxoSmithKline, offered insights into investing in diseases of poverty, including tuberculosis, and benefiting the global community while pursuing excellence as a company. During the five conference panels, different funding models were explored and challenges for attracting funding and engagement on tuberculosis were identified.

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The News Net

The Net ends the week with catch-up reading from East Asia and Africa. As always, feel free to comment or ask questions below.
 

 

  • Biotech has entered the mainstream of Asian agricultural production, according to Pakistan’s News International. As part of the Sixth Pan-Asia Farmers Exchange Programme held at Subic Bay, the Philippines, representatives from nine Asian countries discussed the increasing adoption of biotech for enhancing agriculture production. Read more here.
  • Focus Taiwan reports on Vice President Vincent Siew’s remarks that China and Taiwan should increase exchanges in the field of biotech and work together to develop its potential benefits. Exchanges between medical professionals from both countries should be encouraged, he added at the opening of the 1st Cross-Strait Biotechnology Forum. Details are here.
  • The Nation opines that Kenya needs to back up its words with action when it comes to agbiotech. It cites Clive James, founder of the International Service for the Acquisition of Agri-biotech Application, who says that other than South Africa, Egypt and Burkina Faso, most of Africa has been slow to take it up, even though common wisdom suggests that all the countries that have commercialized biotech crops made the right decision.
  • However, things are looking up in Swaziland. The Swazi Observer notes that a new biotech park in Nokwane will eventually bring biotech advances to the public domain. Project manager Moses Zungu disclosed that a strategy is underway on the use of the park, especially how it will be linked with the other diverse sectors such as the University of Swaziland. Read the full article.

 

The Green Gold Rush

(Source: dasolar.com)

Investors, companies, governments and scientists around the world have invested significant resources to create a next generation biofuel that reduces dependencies on fossil fuel, opens up new business opportunities and helps protect the environment. While the early generations of biofuels needed agriculture (e.g. sugar cane) and thus competed with food and feed, next-generation microalgae do not require arable land or freshwater to grow and thus do not compete with food crops. They also produce higher yields of oil per hectare of land, produce a higher-quality fuel product and can produce non-fuel high-value products (HVP), such as biopolymers, proteins, animal feed (Spolaore et al., 2006, Waltz 2009). If technological processes can be developed, the potential benefits of engineered algae include the production on non-arable land of biodiesel, methane, butanol, ethanol, aviation fuel, and hydrogen using waste or saline water as well as CO2 from industrial or atmospheric sources.

This promising outlook led to a number of government subsidies and regulatory changes favouring the production of algae biofuels in the US and Europe.[1] Seen as a kind of green gold, a number of companies rushed in to claim their stakes.

Company Capital investment (US$, millions)
Aurora Biofuels (now Aurora Algae) 25+
Algenol 70+
Sapphire Energy 300
Solarvest BioEnergy Publicly traded on the TSX Venture Exchange
Solazyme 70+
Synthetic Genomics 300+

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Entrepreneurial Events

Below is a list of upcoming events of interest to entrepreneurs in the life sciences. These are taking place in June, which should allow some time for planning.  Of note and much closer on the calendar is the Charite Entrepreneurship Summit 2012, happening April 23-24 in Berlin, Germany. First held in 2007, the conference brings together doctoral students and post-docs, entrepreneurs, clinicians, life science professionals and venture capitalists to explore entrepreneurship. You can find out more here.

 

Other BioE Events

BioBriefing: Biotech for the Non-Scientist
June 17, Westin Boston Waterfront Hotel
https://www.biotechprimerinc.com/agendas/June-17-2012-BioBriefing-BIO.pdf

2012 BIO International Convention
June 18–21, Boston Convention and Exhibition Center
https://convention.bio.org/

Kauffman Life Sciences Venture Summit
June 22, University of California, San Francisco
https://sites.kauffman.org/lifescienceapp/index.cfm

Drug Information Association’s 48th Annual Meeting
June 24–28, Pennsylvania Convention Center, Philadelphia
https://www.diahome.org/diahome/FlagshipMeetings/home.aspx?meetingid=27170

The News Net

As always, the News Net rounds up a selection of bioentrepreneur-focused news stories you may have missed over the past two weeks. Today’s catch includes help for startups in Chile, the US and UK.

 

 

  • Bloomberg Businessweek reports on the success of Start-Up Chile, started by the government in 2010 to boost local entrepreneurship. The audacious program gives $40,000 to startups led by foreign entrepreneurs to set up shop in Chile, no strings attached. Read about it here.
  • The Jumpstart Our Business Startups, or JOBS Act bill, recently signed into law by President Obama, expands funding options for small, fast-growing operations like biotech and tech companies. One provision allows companies to use crowd funding, a way for entrepreneurs to raise up to $1 million online from individual investors with minimal financial disclosure. Learn more here.
  • Finally, the UK government has announced the expansion of its £180 million “biomedical catalyst” fund to include later-stage companies as well as start-ups, a move welcomed by the biotech sector. The Scotsman has the details.

 

The Power of Knowing

Infection by the TB infectious agent, Mycobacterium tuberculosis can exist within the human body as a contained latent infection, active disease, or be eradicated by the host immunological response.  TB diagnostics are required to categorize a patient into one of these categories.  However, case detection remains difficult today due to inaccurate diagnostic methods and confounding factors such as HIV infection, immunosuppressive therapies, anti-tuberculosis treatments, drug-resistant TB bacteria strains and poorly understood other factors[1].  Modern-day TB diagnostic tools in developed countries are neither appropriate nor affordable for resource-poor environments.  National TB programs in disease-endemic countries still rely on older and inaccurate methods for confirming TB in patients.  Without correct diagnosis of a patient’s condition, there is lower probability that appropriate medical treatment will be provided and effect a cure of the disease.

To reach the Stop TB Partnership Goal of TB no longer being a public disease burden by 2050, new and improved point-of-care diagnostics need to be developed.  Two entrepreneurial efforts, one from a high-income country (USA) and one from an emerging economy (India) are profiled here.

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Things to read

 

I wanted to pass along a couple of articles from the mainstream media that should be of interest to the biotech industry. The first is in The Economist and covers cancer and epigenetics research; find it here.

The second article is longer and found in The New York Times.  The investigative piece looks at discord between the Food and Drug  Administration in the United States and the White House.  Of particular interest is the section on KV Pharmaceutical’s decision to increase price for its premature birth drug. Read it here.

New Bioentrepreneur article

On the Bioentrepreneur site you’ll find a new Building a Business article (read it here).  The piece stemmed from a discussion at JP Morgan in 2011, when the author Bill Polvino detailed his background and hiring at Veloxis Pharmaceuticals.  Bill put together an outline, and after we’d hammered out a few drafts and got it through production, the final product emerged: A Work in Progress.  The article gives advice on how to recognize the need for change in your biotech company, and how to implement it.

Enjoy.