Dear Members,
Happy February! And what a February it has been, from a busy Virginia General Assembly Session, to snow storms, to continuing changes in Washington, D.C. We thank you for partnering with Virginia Bio through it all, and thank you for your continued dedication to Virginia’s biotechnology ecosystem. Your hard work, innovation, and commitment to advancing life sciences play a crucial role in strengthening our industry, improving patient outcomes, and fostering economic growth in our Commonwealth. A lot is happening, so let’s get to it….
National Institutes of Health Funding Cuts, Other Administration Reductions. Perhaps the most impactful news during this month was the recent National Institutes of Health (NIH) guidance to limit funding for medical and life sciences research at universities, hospitals and other scientific entities. As stated in Virginia Bio’s February 14 statement on the issue: “The reduction of NIH funding for medical research will have far-reaching consequences, impacting public health, technological innovation, and the future of our life sciences workforce. Virginia’s life science industry employs more than 30,500 across more than 3,000 establishments, contributing more than $8 billion to our economy. While our innovative industry is also funded by private investment, federal investments (including $688 million in NIH funding) undergird a large portion of support. The limitations to NIH funding envisioned in the proposed NIH guidance will threaten Virginia’s private and public sector innovation, jobs and national leadership in the scientific community.” Several of our member research institutions and companies are being directly affected, with pending position reductions, scaling back of research and reduced operational capacity. We ask that, where possible, each of us supports those affected and, if you are affected, continue to inform Virginia Bio so that we may continue our advocacy with our policy makers. This week, Virginia Bio will be on Capitol Hill as part of AdvaMed’s Annual Capitol Hill Fly-In, where we will meet with several offices of the Virginia Congressional delegation, primarily on this issue of cuts in funding and personnel at vital agencies like NIH, FDA, CDC and others. Being able to tell these legislators in real time the effect of these cuts have on Virginia jobs and biotechnology innovation is vital, and we can only do so with your help.
For other news happening in our ecosystem, be sure to visit our Newsroom and our email Newsletter (check your inbox!).
Virginia General Assembly 2025. This year’s session adjourned sine die this past Saturday February 22. This year’s Prescription Drug Affordability Board (PDAB) legislation, House Bill 1724, passed both the House and the Senate, and is currently on Governor Youngkin’s desk for consideration. Recall that this legislation, if enacted, will give authority to a group of government appointed individuals, most without biotechnology industry experience, to establish artificial price caps on certain drugs with high patient out-of-pocket costs. A PDAB would drive investors away from investing in pharmaceutical innovation and, ironically, patient accessibility to needed drugs would be reduced. Virginia Bio has of course advocated against this bill, and have indeed written to Governor Youngkin, asking him to veto HB1724, just as he did for similar proposed PDAB legislation last year.
Virginia Bio also activated our grassroots supporters who have sent over 1400 letters to policy makers, urging them to reject PDAB and protect innovation. Virginia’s biotechnology industry is strong and growing, not the least reason being the Governor’s administration’s investments made in our ecosystem. We encourage Governor Youngkin to continue to support the industry with a veto of this harmful bill.
Virginia State Science and Engineering Fair. Each year, Virginia Bio recruits volunteer judges from the membership to attend the Virginia State Science and Engineering Fair to select the top three winners in the field of biosciences. The time commitment is limited to a pre-event online review of the submissions to select the finalists and then a few hours onsite at the Fair to interview and select the final winners. Lunch is provided to all judges by the Fair. The process is extremely easy and, by all accounts, very rewarding. This year’s event will be held Saturday, April 5th at Piedmont VA Community College in Charlottesville. Virginia Bio judges will need to report between 7:30-8am and we should be finished by 12pm. Please contact Caron Trumbo if you are interested in participating.
Workforce Trends. VA Bio is partnering with The Life Sciences Workforce Collaborative (LSWC) on the TEConomy National Workforce Trends Report. The report will identify the most pressing talent needs of the life sciences industry – an issue that remains top of mind for industry executives, whether experiencing growth or retraction – as well as actions needed to develop talent that will drive innovation in the industry. Interviews with numerous VA Bio members are ongoing to ensure that the goals and needs of our members are represented in the final report which is due to be released at the BIO Convention this June in Boston. For more questions on the report please contact Frank Wilton
AgBio 2025: Innovating Agricultural Resilience! Join us at the upcoming AgBio 2025 Conference, where leaders from across the industry will come together to discuss the latest breakthroughs and opportunities in agricultural biotechnology. Taking place on April 8-9, this year’s focus will be on using biotechnology to ensure the availability and abundance of our food sources. AgBio 2025 will be co-hosted by Virginia Bio and NC Life Sci at the NC Biotech Center in RTP, North Carolina. Come socialize with speakers and attendees at a reception April 8 and participate in the conference on April 9. Reserve your room in our hotel room block by March 8, here.
Virtual Coffee on March 4! Please join me for an engaging conversation on the latest developments in Virginia’s biotech ecosystem. This quarterly chat is an opportunity to connect, ask questions, and gain insights into the industry’s growth, challenges, and opportunities. This 30-minute session will be perfect for those seeking to stay informed and build lasting professional relationships—all from the comfort of one’s desk or kitchen table! I look forward to hearing from you and working together to ensure a bright future for biotechnology in Virginia.
For more information about upcoming events, visit our events page, here.
Please Stay In Touch with Virginia Bio. The only way we can assist you is if we hear from you! Caron, Frank and I enjoy paying our members visits, seeing you “where you live,” and bringing policy makers and ecosystem builders to your doorstep (we do accept your invitations!) Thank you for what you do, and we will see you soon.
John, Caron and Frank