Gaps

The products of the modern biotechnology industry are built upon basic science research. Modern academic institutions are increasingly looking for ways to commercialize scientific discoveries in healthcare, agri-tech and white biotech. More researchers than ever before are considering the transition from academia to industry, and many are thinking about building companies around their work. How do we identify what findings and technologies are appropriate targets for commercialization? How can we best form partnerships between academia and industry to benefit from their respective strengths in innovation and commercialization? What should young researchers who are interested in entrepreneurship and science do to prepare for a career at the nexus of biotechnology and business?

In this session, these challenges will be discussed with academics and industry members who have successfully navigated the transition from bench to market in their careers. Funding mechanisms for both industry and academia will be explored. Routes by which academics may partner with commercial entities to enable research as well as means to raising money for an early-career bio-entrepreneur will be discussed with experts at all stages of the scientific pipeline, from startup founder to biotech exec, as well as with funding experts including venture capitalists, angel investors, and startup incubator leadership.

Much of biomedical research in academia and in industry is performed in complex biological systems that are poorly understood. Consequently, research and development within biotech is plagued by high failure rates that limit the rate of progress. In recent years, it has become clear that the current level of productivity is no longer sustainable given the immense cost of R&D. This challenge is manifested prominently in the low success rate of developing preclinical therapy candidates into commercial products, but also occurs across sectors in fields such as agri-tech and white biotech.

In this session, new models for innovation within the biotech industry will be discussed with leading R&D executives as a case study for innovation challenges throughout the industry.

Across the planet, the cost of healthcare continues to rise dramatically. The fraction of the gross domestic product devoted to health spending continues to increase, yet increased spending on healthcare is not directly predictive of outcomes. Significant contributors to the increase in medical spending include the cost of drugs, the aging global population, and the more intensive treatment of chronic conditions. It has become increasingly clear that the current healthcare ecosystem is not financially sustainable as it currently exists.

In this session, global challenges in the cost of healthcare will be discussed with healthcare leadership from around the world with a focus on highlighting spaces for innovation.