- Posted Tuesday April 6, 2010
TGen Drug Development accompanies GPEC to BayBio2010
San Francisco conference is chance for Arizona to lure Bay Area
PHOENIX, Ariz. - April 6, 2010 - Scottsdale-based TGen Drug Development (TD2) will join the Greater Phoenix Economic Council (GPEC) this week at BayBio2010 in an effort to spur Arizona's bioscience industry.
BayBio2010 is a one-day conference April 7 in San Francisco sponsored by BayBio, an industry trade group focused on Northern California's 1,400 bioscience companies, more than any other single region in the world.
"We will showcase TD2's unique oncology solutions, including our integrated approach to guiding biopharmaceutical firms through anti-cancer drug creation, clinical trials and regulatory approvals," said Debbie Snyder, TD2's Vice President for Business Development. "TD2 holds the potential to make significant contributions to patient care, while at the same time sparking major advancements in the Phoenix-area economy."
A recent study shows that TD2 is poised to play a significant role in the expansion of Scottsdale's biomedical industry, fostering new jobs and city revenues, and prompting the creation of more related businesses. The independent economic research firm Tripp Umbach of Pittsburgh released a report in January pegging TD2's total annual economic impact on Scottsdale in 2009, including affiliated company operations, at $26 million - a figure expected to grow to $239 million by 2015.
GPEC, Arizona's leading non-profit economic development organization, aims to build on Arizona's unprecedented recent growth in its bioscience industries. Public-private collaborations have created world-class biomedical research centers, including TD2's parent organization, the Phoenix-based Translational Genomic Research Institute (TGen). From 2002, when TGen began, to 2007, bioscience jobs in Arizona increased by 23 percent, compared to a national average of 11 percent.
The GPEC delegation also will include representatives from Tempe and Chandler, and the company InNexus Biotechnology Inc. The group's goal is to promote Greater Phoenix's growing bioscience industry with the intent of attracting new companies and jobs to the region.
"Arizona's bioscience industry is gaining strength with such examples as VisionGate relocating to the Valley," said Barry Broome, president and CEO of GPEC. "Greater Phoenix is recognized as a center of excellence in health care, home to world-class leadership and a hub of innovative partnerships. Companies are taking notice of the environment we are creating here."
BayBio2010 is one of nation's first bioscience conferences since last month's passage of federal health care reform legislation, the Patient Protection and Affordable Care Act, which has been touted by BayBio as "a big win" for the life science industry.
A key provision, according to BayBio, is the Therapeutic Discovery Project Tax Credit, which will provide $1 billion over two years to help companies with 250 or fewer employees offset a portion of the costs for therapeutic development activities, including hiring scientists and conducting clinical studies.
BayBio2010 will examine the fundamental questions of who pays for biotech innovation and why, and focus on how the current financial environment and new sources of capital could affect business models, development and commercialization strategies. The conference also will review new trends in public markets, venture investment, mergers and acquisitions, and life sciences research and development.
BayBio is an independent, non-profit 501(c)(6) trade association serving the life science industry in Northern California. The staff and services of BayBio are paid primarily through memberships, sponsorships, and event registration fees. BayBio provides these services through representatives in South San Francisco and through coalition partners in Washington, D.C. For more information, visit: www.baybio.org.
The Greater Phoenix Economic Council (GPEC) is a true public/private partnership. GPEC is the regional economic development organization for Greater Phoenix. Working with its 18 member communities, Maricopa County and more than 140 private investors, GPEC attracts quality businesses to this dynamic region. By creating a high-performance economy through capital investments and jobs, Greater Phoenix companies enjoy a business climate where they can compete and thrive in today's global economy. Since, 1989, GPEC has worked to achieve an economically sound and sustainable region. For more information, visit: www.gpec.org
GPEC Director of Communications
TGen Drug Development (TD2), a wholly owned subsidiary of the Translational Genomics Research Institute (TGen), is a 501(c) 3 non-profit organization. TD2 provides innovative services for oncology focused biopharmaceutical companies using a dedicated team of professionals with broad experience and understanding in drug development. TD2 is uniquely positioned to support the need for improved and accelerated development of new chemical entities (NCE's) for life-threatening diseases. TD2 uses a unique combination of experience gained through its contract research organization business, and an integrated suite of proprietary and non-proprietary tools, preclinical study execution, regulatory affairs assistance, clinical trial design and management, and drug development experts to successfully move therapeutics towards regulatory approval. TD2 is dedicated to reducing the risks and uncertainty inherent in the drug development process. For more information, visit www.td2.org.
The Translational Genomics Research Institute (TGen) is a Phoenix, Arizona-based non-profit organization dedicated to conducting groundbreaking research with life changing results. Research at TGen is focused on helping patients with diseases such as cancer, neurological disorders and diabetes. TGen is on the cutting edge of translational research where investigators are able to unravel the genetic components of common and complex diseases. Working with collaborators in the scientific and medical communities, TGen believes it can make a substantial contribution to the efficiency and effectiveness of the translational process. TGen is affiliated with the Van Andel Research Institute in Grand Rapids, Michigan. For more information, visit: www.tgen.org.
TGen Senior Science Writer
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