NIO Fall 2009 Update and Events
September 9, 2009
As summer draws to a close, NIO enters the fall with a full agenda. Here is a sampling of our progress and what is in store for the coming months.
NIH SBIR program reform: NIO is actively participating in a working group aimed at transforming the SBIR program at the National Institute of Neurological Disorders and Stroke (NINDS) from a static grant process to a proactive portfolio management approach. Viewed from this perspective, the NINDS SBIR program is a $240M neuroscience specific fund renewed every seven years. Among our recommendations:
- Set up a management structure similar to an early stage investment firm
- Hire a group of full-time, dedicated, accountable, professional portfolio managers to manage grants, projects and proactive outreach
- Allocate more money to jump start innovation, expedited peer review, money 90 days from application
- Create a new pathway for entities limited by 51% ownership requirement
- Develop a diverse, advisory board from academia, industry, government, and investment community to help this important program succeed
With 16 Institutes involved in the brain and nervous system research at NIH, it is believed that as the NINDS program shows new successes and efficiencies, other Institutes will adopt these more effective processes. The SBIR funds for these Institute equates to a $1.2B neurotech fund renewed every seven years.
National Neurotechnology Initiative: On July 28, just prior to summer recess, NIO hosted a Capitol Hill discussion on the need to increase cross-coordination among Federal agencies focused on neuroscience. Senator Patty Murray (D-WA) and Rep. Patrick Kennedy (D-RI) spoke about their continued commitment for the $1 billion National Neurotechnology Initiative Act (S.589, H.R.1483) to a room of health legislative directors. Senator Murray remarked that the appointment of Francis Collins as the new NIH Director will be helpful to our efforts. We will be up on Capitol Hill throughout the fall attracting additional cosponsors.
New neurotech legislative thrusts: NIO is continually searching for new ways to accelerate the flow of capital towards companies developing treatments for the brain and nervous system. After researching several avenues we are considering new legislation which may include working with the Department of Defense's Congressionally Directed Medical Research Programs among other projects. We'll be seeking NIO member feedback on these efforts over the coming months.
Healthcare Reform Debate: In our discussions on Capitol Hill, NIO continues to work on educating members of Congress that neurotech companies need to continue to make enough money on drugs, devices and diagnostics for the brain and nervous system to make it worthwhile to invest in developing next generation treatments. More specifically, NIO supports measures to ensure that the FDA has appropriate resources conduct timely approvals. NIO does not support a shorter biologics exclusivity time period or cuts in Medicare funding.
Neurotech Clusters 2010: On October 19, NIO will release a new report that ranks the 15 leading regional economic clusters in the global neurotechnology industry. The 100 page report ranks each region's ability to support current and future innovation on a number of factors including the number of neurotech firms, availability of risk capital and robustness of social infrastructure including universities, hospitals and brain research institutes.
HealthCare 2020: NIO is actively working with the Institute For The Future who has undertaken a year-long research program to explore future directions in health and health care in the United States, including user behavior, health and medical technologies, health care delivery system, and societal forces in order to identify and evaluate emerging trends, discontinuities, and innovations over the ten years.
Book published: In late July, I published The Neuro Revolution: How Brain Science Is Changing Our World (St. Martin's Press). The book goes beyond the medical impacts of neurotech to discuss how brain science is influencing nearly every aspect of our lives from financial markets to law enforcement to politics to advertising and marketing, artistic expression, warfare, and even religious belief. It's available at bookstores and Amazon. The book is opening new doors for NIO to discuss the importance of neurotech in all of our lives with the media.
Upcoming NIO Events (mark your calendar)
October 19, 2009, Chicago: NIO PartneringFest, House of Blues, 5-7pm, Monday. Held in conjunction with the 39th Society for Neuroscience conference in Chicago, the 3rd annual NIO PartneringFest is becoming a "must attend" event for neuroscience business development executives, translational researchers and investors attending the conference. Invites will be sent at the end of September.
February 10, 2010 - Washington DC: NIO Public Policy Tour. Meet with your Senators and Congressional Representative and let them know about how your work in commercial neuroscience impacts the lives of their constituents and all Americans. We set up the meetings, NIO members just show up to share your experiences and support the legislation allocating new funding for neurotech.
May 18, 2010 - Boston: Translational Neurotechnology Summit. Organized by NIO's sister organization, the Neurotech Development Foundation, this year's Summit will provide a platform for translational neuroscientists from government and government funded laboratories to meet and share their cutting edge research with potential industry partners and private sector investors. Westin Boston Waterfront.
May 19-20, 2010 - Boston: 5th Annual Neurotech Investing and Partnering Conference. Westin Boston Waterfront. Organized by NIO in coordination with NeuroInsights this market defining conference features keynotes on the state of the neurotech industry, cutting edge company presentations, and panel discussions on a comprehensive selection of topics of critical interest to commercial neuroscience.
Like many of you, NIO has had to push hard all summer to survive these more difficult times. NIO relies heavily on member dues and sponsorships of our events. Thankfully, we have a lot of returning members to support our work, but we also have a very full agenda ahead of us. We are always working on expanding the NIO community. I am fully aware that this has been a challenging environment to say the least and greatly appreciate the continued support and communication. If you would like to know more about membership or if you have any recommendations of other organizations that would benefit from membership please pick up the phone or send me a note.
I hope you had a great summer and are feeling refreshed.
Zack Lynch
Founder, Executive Director
Neurotechnology Industry Organization
415-341-0193
The Neurotechnology Industry Organization (NIO) represents companies involved in neuroscience (pharmaceuticals, biologics, cell-based therapeutics, medical devices and diagnostics), brain research institutes and patient advocacy groups across the United States and throughout the world. Founded in August 2006, NIO now has over 90 member organizations focused on developing treatments and cures for neurological diseases, psychiatric illnesses and nervous systems injuries such as Alzheimer's disease, addiction, anxiety, depression, epilepsy, hearing loss, insomnia, multiple sclerosis, obesity, pain, Parkinson's disease, schizophrenia, stroke, traumatic brain injury and hundreds of orphan brain-related illnesses. More info: www.neurotechindustry.org
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