Two great events in Northeast Ohio!Posted by BioOhio on Oct. 10, 2014
BioOhio is excited to host two events in Northern Ohio this Thursday! We hope to see everyone from the bioscience community represented at one or both of these excellent functions on October 16th!
The Annual Conference focuses on innovation and growth in Ohio’s bioscience community, and the Regulatory Forum features presentations by FDA and industry experts, as well as panel discussions for you to ask the experts your unanswered regulatory questions.
Both events offer content from dynamic speakers, excellent networking, and will bring Ohio’s bioscience community together to explore new opportunities and discoveries in research, innovation, tech licensing, financing, business development, partnerships, workforce & education, regulatory, advocacy and membership benefits.
The location is The Bertram Inn & Conference Center in Aurora. This beautiful venue will allow you to escape from routine surroundings for a day and focus on the root of your bioscience pathway, career, goals and challenges.
Higher Risk, Higher Reward Innovations are the FuturePosted by BioOhio on Oct. 06, 2014
BioOhio is glad to introduce a new contributor to micrOHscope, Andrew Cothrel, CEO of BioOhio member company NovoSource. Andrew has had a long career as a medtech/biotech executive, advisor, and consultant, covering diagnostics & patient monitoring, life science research tools, and medical devices including orthopedics, cardiovascular, and surgical tools.
Thanks again to BioOhio for inviting me to be part of its September 18th conference. I wanted to provide some follow-up to my comments during the panel discussion on innovation, because I received a number of questions after the panel adjourned that we ran out of time to answer.
In the panel, I spoke of how innovation is changing, and opportunities are moving in the venture model from reimbursement-driven incremental product innovation to business model innovation and step-change product innovation. To illustrate, I used some examples from orthopedics, although the comments apply to many other fields as well.
To clarify, I am definitely not saying that incremental innovation in orthopedics, even in areas as staid as total knees and total hips, is dead – far from it. What I wanted to communicate is that incremental innovation – whether it is an improved coating that better promotes bony ingrowth, or a design feature that makes future revisions easier, or whatever it may be – is no longer the province of the venture model. Those types of innovations will come exclusively from the large, established players, because the amount of clinical improvement those incremental innovations create does not justify the costs and risks (relative to the reward) associated with pursuing them in a venture model.
Where the venture model will turn (has turned) in orthopedics is to the higher risk, higher reward innovations that have the potential to make step-change improvements in patient outcomes. Whether it is in biologics, nano-materials, or other areas of innovation, this is the future of the venture model in orthopedics. To be blunt, the days of cranking up yet another set of (more or less functionally equivalent) designs for a spine product line (or knee, or hip…), pretending that is product innovation, and raising private capital around it are over.
What is really ripe for innovation is the non-product side of the orthopedic business. Risk sharing, pricing models, asset ownership, “repless” models, servicing of instruments, and more are beginning to experience disruptive approaches that can come from either venture-backed models or existing industry players. We are seeing signs that this is increasingly being recognized in the industry, and being part of this change as it plays out will be an exciting journey.
I hope that helps to address many of the questions I did not have time to address on the 18th. If anyone has additional questions on this topic, I can be contacted at firstname.lastname@example.org or email@example.com.
And while I’m at it, I hope to see everyone at BioOhio’s Central Ohio Annual Conference Road Show on November 12th. I’ll be on a panel for a different topic this time – focusing on successful business strategies, including David Blauer of Bjond Health, Joseph Gardner of Aerpio Therapeutics and Neill Lane of Stirling Ultracold.
BIO Washington Update, October 2014Posted by BioOhio on Oct. 06, 2014
October 6, 2014
Legislators worked efficiently to address key legislation in September before adjourning for the mid-term elections. Congress approved a continuing resolution (CR) to extend federal funding of government agencies through December 11, 2014. Both the Administration and Congress moved forward on some tax and transportation issues, while continuing to defer action on the expired tax extenders and a possible executive order on immigration. Much of the month was defined by events transpiring outside of the U.S., including the deteriorating situation in Iraq and Syria and the Ebola outbreak in Western Africa. Many of these issues will require additional consideration when Congress returns in November for the Lame Duck session.
ISSUE – GOVERNMENT FUNDING
With the clock ticking down, Congress agreed to extend funding for the federal government at existing funding levels before leaving for election season. The government had been operating on funding from a previous CR that was set to expire at the end of Fiscal Year 2014 (FY14) on September 30, 2014. The new CR will fund the government through December 11, 2014.
BioOhio member NanoLogix making news at home and abroadPosted by BioOhio on Sep. 30, 2014
NanoLogix announced yesterday that UNITAID, based in Geneva, Switzerland and hosted by the World Health Organization, recently published their Tuberculosis Diagnostics Technology and Market Landscape – 3rd Edition. NanoLogix’s sandwiched membrane BNP rapid testing technology for tuberculosis is cited on pages 17 and 37, marking the second year it has been mentioned in the UNITAID report.
More good news from NanoLogix features a member-to-member connection as The Ohio State University joins the growing list of educational institutions ordering NanoLogix products. These include the University of Colorado-Boulder, Massachusetts Institute of Technology, Worcester Polytechnic Institute, and Cardiff University of Wales, UK. In addition, NanoLogix has sold product to Abbott Labs, personal care companies, food processing companies, soil testing companies, the US EPA, and others.
We are always excited to see bioscience companies in Ohio getting such great traction in the global market. Stay tuned for more news from NanoLogix!
Event Rewind – BioOhio Annual Conference Road Show Southern OhioPosted by BioOhio on Sep. 25, 2014
Trading the interstate for side streets on the way to our Annual Conference last week, we took the scenic route through Mason and Blue Ash, passing bioscience the whole way. Assurex Health, Ethicon, Life Safer, Haag-Streit USA, Prasco, and Aerpio were just some of the landmarks we passed.
The BioOhio Annual Conference Road Show in Southern Ohio, held at Cooper Creek Event Center / Blue Ash Golf Course, brought bioscience professionals together for a solid day of networking, presentations and discussion.
We want to extend special thanks to all of the organizations that came together as sponsors to make the day possible. Each sponsoring organization is active, involved and believes in the strength of Ohio’s bioscience community.
“The presenters and content were fantastic! I know we nailed it when people have their heads up, phones down and no one leaves the room, particularly considering it was a spectacular sunny day overlooking a golf course. Attendees gained valuable information and enjoyed equally valuable networking,” said John F. Lewis, Jr., President & CEO of BioOhio.
“This event was the first of three Road Show Conferences this fall. We hope to see you October 16th in Northern Ohio and November 12th in Central Ohio. Although the themes are similar, the speakers and content are different, and just as enthralling.”
Speakers focused on different stages of a company’s growth, from innovation and R&D, adapting to the changing healthcare environment, opportunities and resources in Ohio, and lessons on successful strategies to make it to market and thrive.
The first panel focused on innovation and R&D with some impassioned views on the challenges and opportunities for entrepreneurs today.
Andrew Cothrel, CEO of NovoSource, spoke about the shift in economics and how that is impacting business. “Economics are changing healthcare. Doctors must care what products cost. Clinical data is showing that new products do not necessarily produce better outcomes. Results do matter and the stage is set for price/service innovation driven by cost alignment and defendable outcomes.”
“We have a critical mass of minds in Ohio” said Daniel Miller, Medical Director at the Cincinnati Eye Institute, discussing cutting edge clinical research being performed at the Institute and around the state. He also noted that work needs to be done to allow research to move forward smoothly, particularly in the areas of patient recruitment, training/certifying staff, red tape and logistics.