NEW YORK, April 17 /PRNewswire/ -- The New York Biotechnology Association (NYBA), a not-for-profit trade association dedicated to the development and growth of New York State-based biotechnology related industries, announced that Cynthia Robbins-Roth, Ph.D., a highly regarded biotechnology industry spokesperson and consultant, today addressed more than 500 attendees during the NYBA Annual Meeting keynote luncheon. In her remarks, Dr. Robbins-Roth noted that monumental changes are taking place in the financial markets that support the biotechnology industry. These changes coupled with a tenuous political environment around healthcare, changing public opinion, and the unpredictable marketplace for biotechnology products, all lead to the need for the New York State biotechnology sector to create new models for moving science toward the marketplace and building successful, sustainable businesses. Dr. Robbins-Roth kicked off NYBA's 16th Annual Meeting that takes place April 17-18 at the Marriott Marquis Hotel in New York City with a presentation titled "Money, Products, and Politics: Industry Trends and What They Mean for New York."
"Cynthia issued a call-to-arms to New York biotechnology companies to embrace new models that will enable them to thrive despite the inevitable rise and fall of the biotechnology marketplace," said Karin Duncker, NYBA's executive director. "Building successful biotech companies is a difficult and risky enterprise, but today our audience was given many options to consider in their efforts to grow their businesses and deliver innovative products that address society's unmet medical needs."
The audience was challenged to evaluate the need for new biotechnology business structures that evaluate the following considerations:
-- Fund projects, not companies, around pieces of technology -- Have a rigorous review of projects at each milestone- if they fail, stop funding! -- Use management with relevant industry experience -- Be creative about the exit: out-licensing, not just spinning out a company
In addition, Dr. Robbins-Roth offered recommendations as to what a new model might include:
-- The creation of true "translational research" teams on campuses to drive basic research into preclinical studies -- The development of true hybrid academic/industry development facilities -- Create a global network of collaborators up and downstream. -- Lose the idea that success is measured only in the number of companies formed or growing headcount.
"Dr. Robbins-Roth's presentation focused our attention on the need to understand the new challenges confronting biotechnology leaders. She highlighted the fact that successful development of the industry's novel products must take into account today's variable financial and political environments, and must respond with equally novel business strategies," said Ron Cohen, M.D., President and Chief Executive Officer at Acorda Therapeutics and NYBA Board Member. "Her provocative insights will serve the biotechnology sector well here in New York State and beyond."
Dr. Cynthia Robbins-Roth has been part of the biotechnology industry since 1981. She is a well-known speaker at industry events and a frequent contributor to industry publications, where she offers commentary on specific industry issues.
NYBA's annual two-day meeting has brought together leaders in the biotechnology community to examine and discuss issues vital to the industry from a financial, public policy, research and business development perspective. More than 500 scientists, medical researchers, biotechnology business executives, investors, policy makers and journalists have convened for NYBA's 16th annual meeting.
For an archived transcript of Dr. Robbins-Roth's speech and information about other meeting presentations, please visit the NYBA website: http://www.nyba.org .
About NYBA
NYBA is the leading advocate for advancing the success of the biotechnology industry in New York State and is its main representative to policy makers, the media and the communities in which we work. Our mission is to support the development and growth of New York's biotechnology industry, and serve our members and the biotechnology community by providing a network for information exchange, shared services and collective action. NYBA's membership comprises over 250 bioscience companies, world-class research institutions and related professional services. Under the banner of The Cures Start Here(R), our goal is to amplify the success New York has had and continues to have in discovering major medical advances and growing a vibrant biotech industry. For more information on NYBA programs and initiatives, visit our website at http://www.nyba.org .
NYBACONTACT: Karin Duncker of NYBA, +1-212-332-4395, +1-212-332-4398,kduncker@nyba.org
Web site: http://www.nyba.org/
