Biosimilars, also known as follow-on biologics, continued to capture greater market share and foment stronger competition with reference or brand name drugs in 2021. Increasing the number of biosimilars in the market and amplifying uptake by payers, family medical practices and pharmacies could be a gamechanger for patients and a healthcare system trying to reduce the cost of life-changing medicines.
In the third quarter of 2021 alone, more than $400 million of private capital was invested in Maryland businesses. The money went to more than 34 different companies, according to data compiled by PitchBook. The deals brought the state to about $1.6 billion in funding for the first three-fourths of the year and placed Maryland on track to bring in about $2 billion worth of VC funding for the year. That was a significant jump over 2020, when Maryland saw about $1.26 billion in VC funding. For the industry at large in 2020, VC activity in biotechs grew by 45% to $36.6 billion.
As a life sciences cluster, the BioHealth Capital Region is poised to become a top-three cluster in the Genetic Engineering & Biotechnology News (GEN) Top 10 Biopharma Clusters ranking on the strengths of early-stage companies becoming commercial successes and the construction of millions of square feet of new wet lab space.
The 7th annual BioHealth Capital Region (BHCR) Forum will be held virtually again in 2021 with a small change. This year the Forum will be split between two half-days held on September 13th and 14th. With the theme of “Big Bio…Big Data…Converging”, the Forum will bring together the top biotech and life science executives and expert speakers from across the industry, academia, healthcare, government, finance, and real estate development, among others, to discuss this emerging space in BioHealth.
Bill Snider is a Partner at BroadOak and leads the firm’s growth capital investing activities. Mr. Snider has more than 25 years of institutional investment experience.
The ISPE Chesapeake Bay Area Chapter Mid-Atlantic Science & Technology (MAST) Virtual Showcase, hosted on May 19th, 2021, provided a platform for life science companies to discuss strategies for addressing challenges in the life science industry.
With the availability of academic positions on the decline, and a boom in startups resulting from disruptive technologies, some PhDs are looking to utilize their unique set of skills in a slightly nontraditional way – venture capitalism (VC). One VC firm, called Fifty Years, has recently concluded its inaugural program (PhD to VC), which aimed at preparing young scientists with the skills needed to jumpstart their VC careers.
Improving access to venture capital for life science entrepreneurs and emerging biopharma companies in the BioHealth Capital Region (BHCR) is a top priority. However, elevating the region’s funding profile is not the only type of access undergoing a transformation in recent years.
Paul Nolde has close to two decades of experience in the banking, finance, and venture capital sectors, serving in multiple business development and management roles. As the Fund Manager and Managing Director of Riverflow Growth Fund, a seed-stage venture capital fund based in Richmond, VA, Paul is responsible for all aspects of fund management and investment-related processes.
Leaving the comforts of a big company with a calcified infrastructure, laser-focused job roles, well-established SOPs, deeper pockets, and excellent job security for the scramble and chaos of a younger company isn’t for everyone.
