Author: Chris Rivera

Chris Rivera wrote:

Washington’s fast-growing life sciences community enjoys a strong and collaborative environment that has propelled it to No. 5 among the state’s largest employers according to recent data from the Washington State Department of Employment Security.

That was the conclusion of the ZINO Life Sciences Investment Forum panel discussion that I participated in earlier this week. Panel members—including David Schubert, president of Accelerator; Martin Simonetti, CEO of VLST; Michelle Burris, chief operating officer of Trubion Pharmaceuticals; and facilitated by Alan Smith, a partner at Fenwick & West—debated the state of the life sciences sector and discussed the opportunities and challenges facing the industry.

The half-day event also featured presentations by 15 impressive early stage companies to accredited investors, ZINO Society members and guests. The presenting companies were vying for a $50,000 investment to support their development. The presentations were broken down into three categories: Seed Stage, Launch Stage and Expansion Stage. Three companies were selected as fund finalists. Panelists then had the opportunity to grill company executives to shed more light on their ideas, plans and operations during a segment called “Due Diligence Live!”.

Their presentations, coupled with positive yet realistic comments from panelists, helped solidify my belief that our state’s life science sector is in a good position to fulfill its promise of becoming a global leader on many technological, clinical and health care fronts, as well as a major driver of Washington’s economy. The three finalists were Kevin Connolly of SRS Medical, Carole Spangler of Seattle Sensor Systems and Paul Slowey (aka “Dr. Spit”) of Oasis Diagnostics.

With statewide employment of 22,349, the life sciences are closing in on computer and electronic product manufacturing for the No. 4 position among the state’s largest employers. Transportation equipment manufacturing, agriculture, and food and beverage manufacturing hold the first three spots.

Washington in unique in its willingness to collaborate at the highest level, which contributes to this job growth. Many of the presenting companies are also companies that have come through the WBBA’s commercialization program, or have been an applicant or presenter at WINGS, Washington’s newly formed medical technology angel network, facilitated by the WBBA.

It is exciting to see so many quality early stage companies, see all of the excitement evolving in many of our world’s leading research institutes and how our global health community continues to lead by example and how our industry leaders are partnering with many of these organizations to face some of the most challenging health care issues facing us and citizens around the world. I believe that life sciences in our state is in a very good position to fulfill many promises. Those include becoming a global leader on many technological, clinical and health care fronts. By doing those things, life sciences will become an increasingly important economic driver in our state.

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UNDERWRITERS AND PARTNERS

Chris Rivera wrote:

As the life sciences sector continues to navigate the changing seas of innovation in the new economy, we’ve trained our gaze toward a few beacons. Seattle and the Pacific Northwest have become a light shining on the horizon.

In March, the Washington Biotechnology and Biomedical Association and Burrill & Company will together present Life Science Innovation Northwest, a conference that will bring together scientists, entrepreneurs, investors and partners, who, working together, have the ability to discover and promulgate technologies to improve the lives of people around the world.

We originally wanted to convene a meeting in Seattle because of the potential for tremendous growth in the biotech and life sciences industries in the region. But the Pacific Northwest offers so much more; renowned for being a leading and innovative region. Companies like Boeing, Costco, Microsoft, Amazon and Starbucks are just a few who call the Northwest home. Over the past several years, the Northwest has emerged as a leader in several emerging 21st century industries, becoming one of the nation’s environmental leaders, spurring startups and expansion in green technologies, as well as in the informatics, health care IT and personalized medicine. In addition, Seattle has become the nexus for global health. This fast growing sector is tackling some of the most challenging diseases known to man, many of which affect the citizens in the Northwest and around the world.

Working together, these innovation industries become natural partners spurring discovery and economic growth within their own sectors. All of this presents tremendous value in the region that cannot be overlooked. Value in life sciences is not a derivative of immediate sales and earnings. Value is derived from the hopes and passions of what a product, drug or device is going to do for patients. The business climate in which a startup or even an established company operates boosts confidence that in turn boosts value, which creates jobs, promise and hope. Seattle and the Pacific Northwest’s private sector, philanthropic foundations and elected leadership need to be solidly on board the life sciences train in order to create a temperate climate for entrepreneurship and investment. The atmosphere in the Pacific Northwest today is similar to one California took advantage of more than a decade ago, which helped to create two of the largest biotech clusters in the world in San Francisco and San Diego. This vision bodes well for the Pacific Northwest’s future.

Steve Burrill

This year’s conference is expected to attract significantly more than the 700 attendees from around the world that attended the 2009 conference. It is an opportunity not only to attract interest in the economic potential for the region, but also stands to recognize the good work and brilliant discoveries being made by WBBA member organizations every day.

All of these ingredients create the perfect medium for economic growth. We expect this conference will attract much interest on a national and international scale. Among the lineup are more than 50 innovative organizations, premier research institutions, and pioneers in immunology, oncology and other chronic diseases. They will present latest biotech innovations, medical device and diagnostic technologies, global health initiatives, and bio-fuel and bio-agriculture breakthroughs.

The conference will also add the value of business strategy and investment panels discussing initial public offerings, public-private partnerships and the future of venture capital, and how our current economic situation has affected our industry, and where the opportunities lie in the future.

This region’s strong biotech, medical device, research and global health environment is becoming the next big economic driver. The stage has been set, and it will take not only the city’s leaders, but its residents and business community to support this sector growth. Life Science Innovation Northwest will be the place for scientists, business and community leaders, industry and the global health community, as well as forward-thinking investors and strategic partners to take advantage of this tremendous opportunity and help shape our global health care future. Smart, early innovators have sights set on the Pacific Northwest. Soon, everyone will follow.

[Editor’s Note: This post was co-authored by Chris Rivera, president of the Washington Biotechnology and Biomedical Association and G. Steven Burrill, CEO, Burrill & Company.]

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