Biotech firms have attracted a flood of investment, BIO CEO conference hears

"The sky is the limit when it comes to the opportunities for biotech companies in terms of genomics, personalized medicine, diagnostics, biomarkers, cell therapies and vaccines," according to James Greenwood, president and chief executive of the US Biotechnology Industry Organization. The industry has matured and stabilized, he told those attending the annual BIO CEO & Investor Conference in New York City, and stability leads to greater incentives for investment and partnering activities to fuel a steady stream of new and unique therapies.

Biotechnology companies have attracted a flood of investment dollars, including more than $20.0 billion just in 2005, he said, and have more than 300 biotech drug products and vaccines now in clinical trials addressing more than 200 diseases. "We expect, and the market points toward, a successful and strong year of growth for the industry," he added.

Mr Greenwood recounted the ways that the organization has lobbied and worked on behalf of the industry during the past year, including: