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BIO Comments on New Initiatives to Grow Nation鈥檚 Bioeconomy

hits:1274     Date:09/19/11
President recognizes potential of biotechnology to address national challenges

WASHINGTON--(BUSINESS WIRE)--Biotechnology Industry Organization (BIO) President and CEO Jim Greenwood released the following statement on the new initiatives announced by President Obama earlier today:

鈥淏IO is extremely pleased that the Administration recognizes the potential of America鈥檚 biotechnology industry to provide jobs and grow the nation鈥檚 economy, as well as 鈥榓ddress national challenges in health, food, energy, and the environment.鈥 As the President has noted, biotechnology offers our nation the most promise to cure disease, feed the hungry, clean our environment and provide renewable sources of energy.

鈥淲e are very supportive of the President鈥檚 stated commitment to reduce unnecessary regulation and for investment in research and development, as well as the creation of new tools for small companies with promising science. BIO recently released Unleashing the Promise of Biotechnology, a summary of legislative proposals to reform the investment and regulatory environment to help foster biotech innovation. BIO鈥檚 proposals will help create jobs here in America, develop cures and continue our nation鈥檚 global leadership in innovation 鈥 goals that we are pleased to see incorporated in the President鈥檚 proposals.

鈥淲e are also pleased with the Administration鈥檚 focus on the important role technology transfer plays in commercializing university research in order to benefit patients and other consumers. BIO works closely with the university community to improve technology transfer and commercialization of discoveries through regular collaborations on a range of policy and practice issues. We stand ready to work with the Administration to support similar initiatives.

鈥淐ombined with the strong support for the development of advanced biofuels expressed in his proposed American Jobs Act, President Obama has laid out a roadmap to help foster the continued growth of American鈥檚 biotechnology sector that is worthy of careful consideration. We look forward to working with the Administration as it develops the National Bioeconomy Blueprint and implements the other promising proposals announced today.鈥

About BIO

BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world鈥檚 largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling 鈥渋nnovations transforming our world.鈥 Subscribe to BIOtechNOW.

Upcoming BIO Events
BIO India International Partnering Conference
September 21-22, 2011
Hyderabad, India

BIO China International Conference
October 12-13, 2011
Shanghai, China

10th Annual BIO Investor Forum
October 25-26, 2011
San Francisco, CA

BIO-Europe 2011
October 31-November 2, 2011
Duesseldorf, Germany

BIO IP Counsels Committee Fall Conference & Meeting
November 2-4, 2011
New York, NY

BioMalaysia 2011 Conference & Exhibition/
2011 Pacific Rim Summit on Industrial Biotechnology and Bioenergy
November 21-23, 2011
Kuala Lumpur, Malaysia

Contacts

Biotechnology Industry Organization
Jeff Joseph, 202-962-9230
jjoseph@bio.org
www.bio.org

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