G. Steven Burrill Presents the 'State-of-the-Industry' at BIO 2008 June 17, 2008
SAN FRANCISCO - Biotechnology visionary G. Steven Burrill, author of Biotech 2008 - Life Sciences: A 20/20 Vision to 2020, the 22nd annual report on the biotechnology industry, will reflect on the events that have occurred during the past year and offer his analysis and predictions for the industry through to 2020. He will present at BIO 2008 on Wednesday, June 18, 2008 at 8:15 am – 9:45 am in the San Diego Convention Center, Upper Level, Ballroom 6.
Biotech 2008 reveals that the biotech industry finished 2007 in good shape after a strong performance on the capital markets, which remained unpredictable all year long. There were 28 new biotech IPOs; financings and partnering deals collectively raised almost $45 billion for US companies. Although the industry had no difficulty raising money it had a tough time bringing new medicines to market with the prevailing safety-conscious attitude at the FDA taking its toll on new drug approvals.
By 2020 Mr. Burrill predicts that:
- Wal-Mart,plus other direct to consumer healthcare delivery institutions, will become the place to go for medical treatment.
- Nano-devices in the blood will diagnose and repair problems.
- Patients will carry their genome and health records on a smartcard.
- To be successful, companies will have to retool from being full-integrated to a virtually-integrated model
- People will be able to purchase organs off-the-shelf or even grow their own.
- Implants and prostheses that mimic biological functions, restore critical functions to existing organs or tissues, or even augment those functions will begin to appear.
- Demand for bio-ethanol, bio-diesel, and other alternative energy sources will drive technological innovation in the sector, especially in the production of cellulosic ethanol.
“Three years ago, we highlighted the fact that systems biology was beginning to move us to a more personalized medicine world that inevitably would lead us down the path to predictability and then on to prevention,” said Mr. Burrill, CEO of Burrill & Company, a San Francisco based global leader in life sciences with activities in Venture Capital, Private Equity, Merchant Banking and Media.. “When we reach the year 2020, we will look back and note that 2007 was the year that personalized medicine started to play a role in every aspect of the healthcare continuum.”
Source: Burrill & Company
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