2008 Mid-Atlantic Bio Focuses on Industry Collaboration
Amidst Economic Turmoil, Conference Concludes with Record High Attendance
Chantilly, Va. -- October 24, 2008 - With more than 850 attendees from 30 states and 10 countries, the annual Mid Atlantic Bio conference exceeded last year's registration figures and hosted participants from life science organizations, venture and investment firms, academic and research institutions, and government agencies.
Held at the Westfields Marriott Washington Dulles conference center October 22nd through the 24th and co-hosted by Virginia Biotechnology Association (VaBIO), the Tech Council of Maryland/MdBio, and the Mid-Atlantic Venture Association (MAVA), 2008 Mid-Atlantic Bio attracted speakers who are preeminent leaders from the life sciences community. With record attendance, a sold-out conference hotel, and top-tier programming, Mid-Atlantic Bio has experienced continuous growth since its inception in 2005.
"During a period of global economic uncertainty, when companies are allocating resources even more selectively, Mid-Atlantic Bio has proven to be an essential forum for industry collaboration and information-sharing," said Julia A. Spicer, executive director of the Mid-Atlantic Venture Association, one of the three host associations. "This conference engenders dialogue among companies, investors, academia and policymakers, who are part of the global bioscience marketplace," she added.
Virginia Governor Timothy M. Kaine delivered the welcome address. Headlining the conference were plenary session speakers Nobel Laureate Kary Mullis, M.D.; FDA Commissioner Andrew C. von Eschenbach, M.D., David M. Mott, general partner of New Enterprise Associates, Inc. (NEA) and former president and CEO of MedImmune; Jeremy Levin, D.Phil., senior vice president of Bristol-Myers Squibb; and Stuart Rothenberg, editor and publisher of The Rothenberg Political Report.
Governor Kaine encouraged companies in the mid-Atlantic region to continue to work together to find new ways of sustaining growth through the current economic crisis. "A crisis is a terrible thing to waste," he said and added that the current environment will challenge business leaders to approach problems in new ways.
Dr. Mullis, who won a Nobel Prize for his invention of polymerase chain reaction (PCR), shared his vision for the next generation of antibiotics.
Dr. Levin stated that "these are serious times that require a different kind of thinking," adding that "now more than ever it is time for biotechnology and pharmaceuticals to come together."
David Mott, who led MedImmune during its acquisition by AstraZeneca and now leads a biopharmaceutical investment practice for NEA, addressed the most important considerations affecting venture funding of bioscience companies, highlighting the importance of a well aligned board and management team with shared views of growth, goals, and risk taking. "The best ideas, the best management teams, will get funding; there will always be money for those," Mott said.
Commissioner Andrew von Eschenbach described the transformation underway within the U.S. healthcare system, and said the FDA is engaged in efforts to align his agency accordingly to adapt to medical and technological change.
Fifty-three exhibitors showcased products and services, and 12 science posters were on display featuring a variety of cutting edge academic, federal laboratory, and company research and development efforts providing commercial solutions. Twenty-six companies from emerging and later stage companies as well as companies from four countries presented before an audience of venture capitalists and industry professionals. The companies, at various stages of development, range from seed and early stages to later stage growth, and represented a cross-section of industry sectors. A variety of scientific, business and investor workshops and panels rounded out a full programming agenda.
In addition, this year's conference included an expanded international focus, with an International Pavilion showcasing visiting delegations. The program also included panel discussions on several international life science business issues. An Around-the-World international dinner program included remarks by embassy and economic development officials of five countries and featured a discussion of U.S. elections by political commentator Stuart Rothenberg.
Diamond sponsors for the 2008 conference included BioMaryland, the Commonwealth of Virginia, Northern Virginia Life Sciences Communities, the Janelia Farm Research Campus of the Howard Hughes Medical Institute, and MedImmune. For a complete list of sponsors visit www.midatlanticbio.org.
About Mid-Atlantic Bio
Mid-Atlantic Bio is an annual bioscience industry conference co-hosted by the Mid-Atlantic Venture Association (MAVA), the Virginia Biotechnology Association (VaBIO), and Tech Council of Maryland (MdBio). The conference has gained recognition as the only regionally-hosted forum that attracts leaders from the bioscience field, along with venture capital companies and other investors.
Mid-Atlantic Bio brings together national and international leaders from the bioscience industry for two and a half days of keynote addresses, panel discussions, company presentations, exhibits, and networking events. Participants also include academic institutions, government agencies and embassy officials and country delegations.
About the Tech Council of Maryland/MdBio
The MdBio Division of Tech Council of Maryland seeks to support and advance the bioscience industry in Maryland and the region. The mission of the 150-member MdBio division is to create an environment where bioscience businesses can collaborate, grow and succeed. For more information, please visit www.techcouncilmd.com.
About Mid-Atlantic Venture Association
Founded in 1986, MAVA represents the collective interests of private equity and venture capitalists investing in the mid-Atlantic, including more than 500+ venture professionals, at 125 firms, with more than $100 billion in capital under management. For more information, please visit www.mava.org.
About Virginia Biotechnology Association
Virginia Biotechnology Association (VaBIO) is the 150-member statewide trade group that promotes the considerable scientific and economic impact of the life sciences industry in the Commonwealth of Virginia. For more information, please visit www.vabio.org.
