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1. What is the Neurotechnology Industry Organization?
2. Who is involved in neurotechnology?
3. Why was NIO formed?
4. What are the critical issues facing the neurotechnology industry?
5. How will NIO help solve the problems facing the industry?
6. How does NIO differ from trade associations like BIO, Advamed, PhRMA, & MDMA?
7. How does NIO compliment existing trade associations?
8. Who is NIO membership open to?
1. What is the Neurotechnology Industry Organization?
The Neurotechnology Industry Organization (NIO) is a 501c6 non-profit a trade association that represents a broad spectrum of companies involved in neurotechnology (drugs, devices and diagnostics), neuroscience research centers and brain disease advocacy groups across the United States and the world.
2. Who is involved in neurotechnology?
Over 500 companies worldwide are involved in the neurotechnology industry. The industry includes companies that research, develop, manufacture and market pharmaceuticals, biologics, cell-based therapeutics and medical devices, as well as diagnostic and surgical equipment for the treatment of brain and nervous system illnesses.
Neurotechnology companies develop treatments and diagnostics for Alzheimer's disease, addiction, anxiety, depression, epilepsy, hearing loss, insomnia, multiple sclerosis, obesity, chronic pain, Parkinson's, schizophrenia, stroke and other many other brain-related illness.
3. Why was NIO formed?
2 billion people worldwide and nearly 100 million American’s suffer from a brain or nervous system illness. Brain-related illness generates more healthcare costs and lost income than any other therapeutic area: $2.0 trillion annually worldwide, $1.1 trillion annually in the US. This economic burden is accelerating as the population ages and expands, creating unprecedented demand for treatments that delay, prevent and cure chronic brain-related illness. Development of treatments for these disorders will help ensure a stable and efficient healthcare system in the face of an aging population.
Despite the clear human need and significant global market opportunity, neurotechnology companies face unique investment requirements, research and development challenges, and regulatory milestones which can require more time and money to develop and deliver new treatments than in other life science and healthcare sectors.
NIO was formed to provide commercial neuroscience organizations a collective voice to address these issues and to help patients and government officials understand the benefits of neurotechnology products and the unique needs of this industry.
4. What are the critical issues facing the neurotechnology industry?
• Brain complexity makes neuroscience R&D longer and more expensive
• Range of regulatory issues that stifle innovation and growth
• Lack of public and private investment relative to scale of suffering and economic cost
• Lack of coordination (industry, regulators & public) to accelerate treatments
• Companies involved in neuroscience have no unified industry voice
5. How will NIO help solve the problems facing the industry?
NIO has a three-part strategy: promote, advocate, and support.
1) NIO is promoting and branding neurotechnology as critical to national healthcare savings, national competitiveness, quality of life, and human potential. NIO has several campaigns in development (e.g. the brain industry campaign and the neurotech investment campaign) to inform the public and elected officials about the problems and benefits of neurotech.
2) NIO advocates for its member organizations on a range cross-industry of issues related neurotechnology research and business development with a special focus on favorable changes in the tax code, intellectual property issues, neuroethics, public policy, reimbursement and patient advocacy. NIO works closely with existing trade associations to avoid duplication of efforts and leverage their activities.
3) NIO supports the industry by providing business development services to members across a wide variety of activities, including start up marketing support; inclusion in the neurotech industry business directory; participation in an annual public policy tour in Washington D.C.; members featured in Neurotech Investing Outreach Campaign; members featured in Brain Industry Campaign; discounts on reports and conferences.
6. How does NIO differ from trade associations like BIO, Advamed, PhRMA, & MDMA?
NIO exists to advance the agenda of the entire neurotechnology industry, inclusive of all treatment options (neuropharmaceutical, neurobiological, neurosurgical, neurodevice and neurodiagnostic). This is different than most other trade associations like BIO, Advamed, PhRMA and the MDMA whose stated mission is to advocate for a specific type of technology. NIO is technology inclusive and indication centric trade association.
NIO is a broad-based coalition whose goal is increase the awareness of all brain and nervous system illnesses, as well as to promote and advocate for the breadth of treatment and diagnostic options.
Given the magnitude of the problem society faces with respect to an aging population with ever more brain-related diseases, it is critical that neurotechnology have a unified voice to educate policymakers and healthcare leaders about the importance of neurotechnology and its positive impact on our society and economy.
7. How does NIO compliment existing trade associations?
NIO works with established trade associations to increase the awareness of neuroscience related issues within their agendas by improving the visibility of neurotechnology in general. NIO also works with existing trade associations to avoid duplication of efforts and leverage their activities. Unlike the very large trade associations which focus on broad themes, NIO focuses specifically on policy reforms that are necessary to create cost efficiencies, clarity and certainty in the CNS regulatory processes as well as neurotech company's funding needs from both private and public sectors. NIO fills the needs of neurotech organizations that were going unmet.
NIO serves as an umbrella organization for all the stakeholders involved in neurotechnology, unifying previously fragmented voices.
8. Who is NIO membership open to?
NIO membership is open to organizations that research, develop, manufacture or market pharmaceuticals, biologics, cell-based therapeutics, medical devices, as well as diagnostic and surgical equipment for the treatment of neurological diseases, nervous systems ailments and psychiatric illnesses. Membership is also open to university neuroscience research centers, non-profit brain-state charities, and non-profit brain research centers. Associate membership is available for those organizations that have a vested interest in the neurotechnology industry such as law firms, venture capital firms, investment banks, accounting firms, individuals and consultants.
Membership Information
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