The Economy Tops the List at BIO Convention

Theral Timpson

Jennifer Boggs at BioWorld forecasts the annual BIO convention that began in Boston today. She compares 2012 with the biggest year for BIO, 2007, the year before the devastating economic crisis.

"Back in 2007, we had 400 public biotechs, and we were pretty much at the top of our game," she quotes Jim Greenwood, president and CEO of BIO. "Now we have 300."

Noting some good news about 2011 such as increased funding and about a dozen IPOs, Boggs reiterates the challenge with the embattled global economy. As with the recent Burrill Book, "Innovating in the New Austerity," the common theme among sessions is innovation, both in scientific pursuits and in business models.

Catch the full post here.