|By Business Wire||
|April 3, 2014 08:04 AM EDT||
The Massachusetts Biotechnology Council (MassBio), the state industry association for the life sciences industry, today issued Impact 2020, a strategic report on the state of the biotechnology and life sciences cluster in Massachusetts. The extensive report issues a call to action for Massachusetts stakeholders—across industry, academia, healthcare networks, payers and government—to take steps to safeguard the Commonwealth’s definitive, but fragile, leadership position in life sciences and innovation.
MassBio’s strategic reports have been key to strengthening the regional life sciences cluster, which today is recognized as the global leader for life sciences innovation. Developed by consulting firm Health Advances through in-depth interviews of more than 100 thought leaders, Impact 2020 recommends:
- Driving the conversation on defining value and reward for innovation in the era of outcomes-focused medicine;
- Seizing a leadership opportunity at the intersection of IT and life science;
- Evolving funding models for early stage companies and innovative ideas;
- Improving workforce development to ensure a workforce trained for the jobs of the future and support downstream expansion; and
- Highlighting patient stories to showcase the impact of innovation taking place in Massachusetts
“While we are riding a renaissance of life sciences funding, scientific advances and new product approvals in 2014, Impact 2020 identified real threats to the long-term viability of the model,” said Robert K. Coughlin, President & CEO of MassBio. “We must take action to ensure our ability, regionally and as an industry, to continue delivering breakthroughs that benefit patients worldwide.”
Impact 2020 examines the balance between value-based, evidence-based medicine in the era of healthcare reform and the uncertainty it creates for investors and entrepreneurs who seek reward for innovation and risk-taking.
“We all need a thoughtful approach to determining how new, life-changing therapies are valuated and paid for,” said Geoff MacKay, outgoing Chairman of the MassBio Board of Directors and President & CEO of Organogenesis Inc. “That dialogue needs to include private payers, Medicare, providers and the companies developing new treatments, to ensure that the needs of patients remain our core focus.”
The report also analyzes new challenges in capital formation to fund new companies and drive forward new potential medicines, diagnostics and devices. As the cost and risk of bringing new products to market has increased, traditional investors have evolved models that spread that risk. New players, including disease foundations, wealthy individuals, and even crowdsourcing organizations are filling a void left by a decrease in traditional sources of capital.
“With its unprecedented concentration of uniquely skilled talent, leading hospitals, world renowned academic institutions, pharmaceutical research centers, and deep financial resources, Massachusetts has long been the ideal place to start a new biotech company,” said Glenn Batchelder, incoming MassBio Chairman and Founder of Civitas. “To preserve this, MassBio and its partners must continue to develop supportive programs that reduce the startup hurdles for tenacious, talented entrepreneurs.”
Impact 2020 includes additional analysis and recommendations around the region’s opportunity at the nexus of IT and healthcare; the need to expand of workforce development programs that reduce ‘door to floor’ time; and Massachusetts’ biomanufacturing capabilities and the opportunity for downstream development, among other topics.
The Massachusetts Biotechnology Council is an association of more than 620 biotechnology companies, universities, academic institutions and other organizations dedicated to advancing cutting edge research. We are the leading advocate for the Bay State's world premier life sciences cluster.
We drive innovation by creating a forum for the biotechnology community to come together, educating the public and policy makers, influencing public policy and advancing the economic interests of individual companies, as well as the sector as a whole.
For more information on MassBio or to download the entire Impact 2020 report, please visit www.massimpact2020.com.
We live in a time when seconds – even milliseconds – can have a dramatic economic impact on your company’s future. With technology being the primary conduit for consumer interaction, the user experience is at center stage. User experience will be a deciding factor in separating the future winners from the losers. By building more speed and agility into the application delivery process, DevOps prom...
Oct. 31, 2014 12:00 AM EDT Reads: 989
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and ...
Oct. 30, 2014 07:00 PM EDT Reads: 1,961
When an enterprise builds a hybrid IaaS cloud connecting its data center to one or more public clouds, security is often a major topic along with the other challenges involved. Security is closely intertwined with the networking choices made for the hybrid cloud. Traditional networking approaches for building a hybrid cloud try to kludge together the enterprise infrastructure with the public clou...
Oct. 30, 2014 07:00 PM EDT Reads: 1,494
Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia's customers benefit from faster time to market, optimized application performance and higher-qu...
Oct. 30, 2014 07:00 PM EDT Reads: 1,804
SYS-CON Events announced today that Stratogent will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Stratogent is a custom managed services organization based in San Mateo, California. We design, implement, and support mission critical infrastructure 24x7 on premises, in datacenters and in t...
Oct. 30, 2014 06:45 PM EDT Reads: 2,114
SYS-CON Events announced today that Grid Dynamics, the leading provider of scalable eCommerce technology solutions, will exhibit at DevOps Summit Silicon Valley, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Grid Dynamics is a leading provider of open, scalable, next-generation commerce technology solutions for Tier 1 retail. Grid Dynamics h...
Oct. 30, 2014 06:00 PM EDT Reads: 1,080
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product...
Oct. 30, 2014 06:00 PM EDT Reads: 3,093
SYS-CON Events announces a new pavilion on the Cloud Expo floor where WebRTC converges with the Internet of Things. Pavilion will showcase WebRTC and the Internet of Things. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices--co...
Oct. 30, 2014 05:30 PM EDT Reads: 2,148
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterp...
Oct. 30, 2014 05:30 PM EDT Reads: 1,110
Docker offers a new, lightweight approach to application portability. Applications are shipped using a common container format and managed with a high-level API. Their processes run within isolated namespaces that abstract the operating environment independently of the distribution, versions, network setup, and other details of this environment. This "containerization" has often been nicknamed "th...
Oct. 30, 2014 05:00 PM EDT Reads: 1,765