Skip to content

  • Home
  • Expertise
  • Client results
  • News & Insights
  • People
  • Our DNA
  • Inclusion and Diversity
  • Join us
  • Contact Us
Home / NEWS & INSIGHTS / Insight / Update from the BIO International convention
Insight 13 June 2016

Update from the BIO International convention

As an attendee at the 2016 BIO International Convention in San Francisco (the world’s largest biotech and life sciences convention), Ben Wood (Senior Associate, Corporate Advisory) thought it would be useful to give a quick overview of some key themes arising from the convention:

  • An inevitable area of focus is the upcoming US election in November. While Bernie Sanders has not yet conceded defeat, Hillary Clinton’s win of the Democratic primary in California has effectively secured her place as the Democratic White House nominee. The focus now turns to a head-to-head with Donald Trump. A BIO key note speech on Wednesday provided some further insight into the likely campaigns by each nominee, but with an acknowledgement that the end result is still a big unknown – with Mr Trump having defied odds to date and a view that it will not be a ‘normative’ election. That said, it was suggested that both candidates are likely to have a high level of focus on the biotech industry.
  • While perhaps not as prominent in current debate in Australia, a significant area of focus (and contention) in the US is ensuring patient access to new affordable drugs and treatments, at the same time as not stifling incentives for innovation and investment by biotechs. A potential ‘trust gap’ has been flagged between patients, drug developers and payers.
  • The importance of ongoing collaboration between key stakeholders (including Governments, big pharma, earlier stage biotechs, and payers), to not only address the issue of drug costs and access noted above (e.g. to create tailored value propositions for each drug), but also to ensure ongoing pursuits with translational research, more effective commercialisation of new drugs and treatments, and removing regulatory barriers to technological advancements.
  • Awareness that the biotech and life sciences industry is ‘coming down the curve’ from highs in 2014, with July 2015 sighted as the turning point in the US. This is at the same time as acknowledging that the industry is likely to remain a significant contributor to the US economy (which naturally aligns closely with Australia). Irrespective of market trends, a common theme is ensuring to take a ‘long-term view’ (a consideration which is relevant across industries).
  • Coupled with the softening of market conditions, a potential ‘drying of the well’ was flagged for early stage biotechs in a separate panel session with some US VC funds and angel investors. Investment in biotech (as opposed to technology) has been relatively flat in the US, with the level of investment down 15% from 2008 and indications that a number of investors are now shifting to larger companies in the industry. That said, some emerging trends, including the emergence of ‘micro VC’ firms and further recent developments to US crowd-funding laws (with a new ‘IPO light’ model), were identified as potential further financing vehicles.

Other topics of interest included the ongoing rise of digital media (as a means of communicating with customers in a patient-centric world) and developments with the Trans Pacific Partnership.

It will be interesting to see how some of the above themes filter into the Australian marketplace in coming months. In particular, the upcoming US election, coupled with the pending UK referendum on a Brexit, will likely have broader implications across industries outside biotech and life sciences – the next four to five months are likely to be a ‘wait and see’ for investors and other key stakeholders.

This publication covers legal and technical issues in a general way. It is not designed to express opinions on specific cases. It is intended for information purposes only and should not be regarded as legal advice. Further advice should be obtained before taking action on any issue dealt with in this publication.

About the authors

  • Reece Walker

    Chair of Partners
  • Ben Wood

    Partner

In other news

2022-23 Queensland Budget

24 June 2022Insight

2022 EOFY trust distributions: handle with care

22 June 2022Insight

QBCC head contractor licensing exemption confirmed as remaining in force

22 June 2022Insight

NSW significantly expands scope of stamp duty regime

14 June 2022Insight

VIEW ALL NEWS & INSIGHTS

BRISBANE

Level 11, 66 Eagle Street
Brisbane QLD 4000
GPO Box 1855
Brisbane QLD 4001
Tel +61 7 3233 8888
Fax +61 7 3229 9949

 

GET IN TOUCH

    Contact form

    We handle your personal information in accordance with our privacy policy.

    Please do not send us any confidential information. By submitting this form, you agree that our review of the information you submit will not create a lawyer-client relationship between you and our firm (or any lawyer in our firm) and it will not prevent us from representing a party in any matter where the information you submit is relevant, even if that information could be used against you.

    sydney

    Level 32, MLC Centre
    19 Martin Place
    Sydney NSW 2000
    GPO Box 462
    Sydney NSW 2001

    Tel +61 2 8241 5600
    Fax +61 2 8241 5699

     

    GET IN TOUCH

      Contact form


      We handle your personal information in accordance with our privacy policy.

      Please do not send us any confidential information. By submitting this form, you agree that our review of the information you submit will not create a lawyer-client relationship between you and our firm (or any lawyer in our firm) and it will not prevent us from representing a party in any matter where the information you submit is relevant, even if that information could be used against you.

      melbourne

      Level 27, 101 Collins Street
      Melbourne VIC 3000
      GPO Box 2924
      Melbourne VIC 3001

      Tel +61 3 9067 3100
      Fax +61 3 9067 3199

       

      GET IN TOUCH

        Contact form

        We handle your personal information in accordance with our privacy policy.

        Please do not send us any confidential information. By submitting this form, you agree that our review of the information you submit will not create a lawyer-client relationship between you and our firm (or any lawyer in our firm) and it will not prevent us from representing a party in any matter where the information you submit is relevant, even if that information could be used against you.

        follow us

        CLIENT LOGIN

        newcastle

        92 Young Street
        Carrington NSW 2294
        PO Box 394
        Newcastle NSW 2300

        Tel +61 2 4914 6900
        Fax +61 2 4914 6999

         

        GET IN TOUCH

          Contact form


          We handle your personal information in accordance with our privacy policy.

          Please do not send us any confidential information. By submitting this form, you agree that our review of the information you submit will not create a lawyer-client relationship between you and our firm (or any lawyer in our firm) and it will not prevent us from representing a party in any matter where the information you submit is relevant, even if that information could be used against you.

          canberra

          Level 9, 2 Phillip Law Street
          Canberra ACT 2601

          Tel +61 2 6243 3669
          Fax +61 2 8241 5699

           

          GET IN TOUCH

            Contact form


            We handle your personal information in accordance with our privacy policy.

            Please do not send us any confidential information. By submitting this form, you agree that our review of the information you submit will not create a lawyer-client relationship between you and our firm (or any lawyer in our firm) and it will not prevent us from representing a party in any matter where the information you submit is relevant, even if that information could be used against you.

            © 2017 McCullough Robertson. Site map Disclaimer Privacy Policy Statement of Business Ethics Credit Reporting Policy

            X