BayBio CEO Gail Maderis explains their role in supporting the 1300 life sciences companies in Northern California




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Video title: BayBio CEO Gail Maderis explains their role in supporting the 1300 life sciences companies in Northern California
Released on: August 17, 2011. © PharmaTelevision Ltd
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In this episode of PharmaTelevision News Review, filmed at BIO 2011, Fintan Walton talks to Gail Maderis, CEO of BayBio.
BayBio: Role and purpose
Fintan Walton:
Hello and welcome to PharmaTelevision News Review here at BIO 2011 in Washington. On this show I have Gail Maderis, who is President & CEO of BayBio, welcome to the show.
Gail Maderis:
Thank you, it's a pleasure to be here.
Fintan Walton:
I mentioned that BayBio is in Northern California, of course it represents largely the biotechnology companies in the Bay area itself but a little bit beyond that as well, could you just tell us what is the purpose of BayBio?
Gail Maderis:
BayBio's purpose is to support the 1300 life sciences companies in Northern California, to advocate for them at the state level, federal and municipal and to help innovation thrive and support companies in growing and succeeding.
Fintan Walton:
And obviously when organization like yours your role is as you already indicated is very, very important the important thing of course for them is that you represent their needs particularly in a difficult economic time, so what sort of examples could you give where you've worked in an advocacy role at a state level?
Gail Maderis:
It is a challenging time for it at the state level, we are facing some big budget crisis, so a lot of our work this year is to hold on to the tax reforms, single sales factor that operating lost credits that have been adopted over the last several years, we are also very concerned about continuing to support education in a tough budget climate and this goes all the way from K-312 up through the university system, but importantly California has its own FDA called the FDB that is completely redundant with what the FDA does nationally and so we are working this year to eliminate the regulations that add cost and add time to our companies in getting products and manufacturing plans approved in the state.
Source of funding and future of Startups in BayArea
Fintan Walton:
Of course Gail the Bay area is famous for the early companies, there was a founding of biotechnology those companies have been great success stories from the Bay area, but today these new startup companies that are emerging what sort of future that they have and what is what source of funding are they getting?
Gail Maderis:
Well innovation has always been our strong suit and we, I am very pleased that we are continuing to see a huge crop of new entrepreneurial start-ups in the Bay area despite the economy, but it is one of the most challenging times we faced over our 30-year history and the funding challenges are significant, we are seeing some interesting creative approaches there is an incubator attached to UCSF the QB3 in the mission Bay campus and they've actually gone out and raised a capital fund, a venture fund to help these companies get off the ground, but we are seeing more support from grant funding from the disease foundations, a lot of people don't realize how significant that funding is, but there was 8.8 billion in the US in venture capital last year, the NGO's were 3.2 billions, so it's becoming a much more significant piece of the equation.
BayBio institute: Programs and purpose
Fintan Walton:
Right, so we are seeing a shift in the way biotechnology companies can emerge, how they can get funding which is all are very important, one of the things you've mentioned obviously is the education side and BayBio has its own institute, could you tell us about that institute and what it's purpose is?
Gail Maderis:
So the BayBio institute is established to support education, entrepreneurship and workforce development and all three of those are critical to our industry. On the education front we have a program called Bio-Community which is a web based matching program that links our life science professionals in our companies with teachers in schools from middle school, high school up through the first years the community college and we are providing hands on support in terms of mentoring internships, equipment donations, company tours, we're actually getting out and teaching labs in classrooms and we believe it's really important to encourage our students to pursue science education, in one generation we've gone from first in the nation to 48th in the nation in the literacy of our middle school children and in science education and we need to change that.
Relationship with BIO
Fintan Walton:
Okay amazing. The other thing of course, we are here at BIO which is organized by the BIO Industry Organization which operates at the federal level let's say, what was your relationship with BIO and do you work together or are there conflicts?
Gail Maderis:
So we work very closely with BIO particularly in support of the federal advocacy and particularly in that in working with the California legislators which are big piece of congress to support federal policies, the key initiatives that we have are FDA reform that's absolutely number one, but second a number of initiatives to increase capital access which ties back to this interest in funding innovation and helping entrepreneurs succeed.
Fintan Walton:
And from your perspective are you concerned that these things will never, you know will never able to overcome those or are we gonna be faced with a reduced opportunity to develop biotechnology of these things don't change?
Gail Maderis:
I am very concerned about the business model in biotech, we are at very interesting time the technological opportunities have never been greater, things like personalized medicine, regenerative medicine, digital health, biofuels and industrial biotech those represent enormous opportunities, but the capital access has never been more constrained than it is right now and I believe we need a new business model which is going to include government incentives, but importantly also we need to support and incent private investment in the industry.
BayBio: Future milestones
Fintan Walton:
So on that theme of looking into the future Gail, as somebody who is President and CEO of BayBio what sort of milestones and achievements would you like to see over the next four to five-years?
Gail Maderis:
I think the most important thing would be FDA reform that we get the risk the safety efficacy balance back into the system and there is more consistency and predictability in the FDA that's creating a big cloud over industry and it's limiting investment by pharmaceutical companies, by venture capital companies, by the public markets, so fixing that is job number one, but beyond that we need to continue to support innovation and I think pharma is absolutely depended on biotech for its pipeline and they are going to need to figure out ways to invest earlier in business models for doing that attractively if they want to see innovative products developed.
Fintan Walton:
Gail Maderis, thank you very much indeed for coming on the show.
Gail Maderis:
Thank you, my pleasure.
Fintan Walton
Dr Fintan Walton is the Founder and CEO of PharmaVentures . After completing his doctoral research on the genetics of cell proliferation at the University of Michigan(US)and Trinity College (Dublin, Ireland), Dr Walton gained broad commercial experience in biotechnology in management positions at Bass and Celltech plc (1982-1992).
Gail Maderis
President
Gail Maderis is President & CEO of BayBio, the industry organization representing and supporting Northern California's life science community. As a former biotech CEO, Ms. Maderis brings deep experience and commitment to supporting the industry through enterprise development, peer-to-peer experience sharing, advocacy and support of education and workforce development. From 2003 to 2009, Ms. Gail Maderis served as President and CEO of FivePrime Therapeutics , Inc., a privately held protein discovery and development company. At FivePrime, she successfully funded the company's rapid growth through substantial private equity financings and corporate partnerships and took the company's first novel cancer therapeutic from discovery into clinical trials. Prior to FivePrime, Ms. Gail Maderis held senior executive positions at Genzyme Corporation, including founder and president of Genzyme Molecular Oncology (GZMO). Ms. Maderis practiced management and strategy consulting with Bain & Co. She serves on the boards of NovaBay, BayBio, the Mayor's Biotech Advisory Council of San Francisco and the HBS Healthcare Initiative. She received a BS in business from the UC Berkeley and an MBA from Harvard Business School.
PharmaVentures
PharmaVentures is a corporate finance and transactions advisory firm that has served hundreds of clients worldwide in relation to their strategic deal making in the pharmaceutical, life science and healthcare sectors. Our key offerings include: Transactions / deal negotiations; Product / technology valuations; Deal term advice; Due diligence & expert reports; Strategy formulation; Alliance management; and Expert opinion for litigation/arbitration cases. PharmaVentures provides the global expertise to ensure our clients generate the highest possible return on investment from all their deal making activities. We have experience of all therapeutic areas and can offer advice on both product and technology commercialisation.
BayBio
The 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, DC. Through advocacy, membership services, programs and more, BayBio brings the world's greatest life science community to your fingertips. With the support of more than 450 member organizations, BayBio is delivering the next generation association to you today.