Look for New Jersey at BIO International Convention
Come visit your New Jersey colleagues at Booth 505 at the Biotechnology Industry Organization’s (BIO) 2012 International Convention, which will take place in Boston on June 18-21. New Jersey will once again be featured with a Pavilion, which BioNJ is presenting in conjunction with ChooseNJ. Lieutenant Governor Kim Guadagno will be on hand to help us tell the New Jersey story.
We are also pleased to note that BioNJ will be presenting the New Jersey story on Tuesday, June 19, from 3:00 to 6:30 p.m. on the second day of a BIO Cluster Hour. This unique new program offered by the Council of European BioRegions will provide a forum open to all attendees at the European Commission pavilion on the convention floor.
We hope to see you there.
May a Busy Program Month
Meanwhile, thanks to those who attended our May programs including our Third-Annual BioPartnering Conference featuring hundreds of partnering meetings, our first Life Sciences Human Resources Conference with more than 130 attendees, an interesting Legal Forum sponsored by Dechert and hosted by Helsinn Therapeutics on the important topic of materiality, and a fascinating CEO Forum on reimbursement sponsored by Campbell Alliance and hosted by Thrombogenics.
We hope you will join us on June 6 at our Fifth-Annual NewX2 BioCruise where we, in conjunction with our friends at the New York Biotechnology Association (NYBA), will honor Linda Pissott Reig of Buchanan Ingersoll and Rooney along with the founders of Regeneron — Leonard S. Schleifer, MD, PhD, President and CEO, and George Yancopoulos, MD, PhD, Executive Vice-President, Chief Scientific Officer, and President — for their service to our respective organizations.
Advocacy Remains Front and Center
In one of the most exciting advocacy weeks of the year, last week, the Prescription Drug User Fee Act (PDUFA) passed in the Senate, and the day before New Jersey Senator Menendez introduced an extension of the Therapeutic Discovery Project Credit (TDPC), which delivered $53 million to New Jersey biotech companies in 2010.
We are pleased to note that the PDUFA legislation incorporated elements of the TREAT and FAST Acts, which I discussed in last month’s column. Similar legislation may be discussed by the House as early as this week, and we will keep you apprised of developments in DC as they occur.
Please see BIO’s press releases on PDUFA and the TDPC in the Industry News and Notes section.
BioNJ recently participated in BIO’s Legislative Day Fly-In in Washington DC, which included a legislative briefing and meetings with legislators to discuss important federal issues facing the biotech industry where both the reauthorization of PDUFA and an extension of TDPC were front and center. Seven New Jersey companies were represented, demonstrating our State’s support for these important federal issues. In total, more than 200 biotechnology industry representatives from 41 states participated in 300-plus meetings with members of the House and Senate during the Fly-In.
On the State level, we continue to monitor the budget process as we look toward the adoption of the final budget in June. Currently, the Technology Business Tax Certificate Transfer program, which enables start-up companies to sell their net operating losses for needed cash, and the R&D Tax Credit appear to be in good stead. However, we will continue to monitor this and other items in the budget with relevance to the biotech industry.
As always, please let us know how BioNJ can assist you.
Yours in BioNJ,