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News Beat December 2018
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News Beat December 2018 - Life Science Washington
December 2018
 

You are part of a vibrant community of life science professionals. This newsletter helps keep you connected to that community and informs you of industry news, transactions, and upcoming events.

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Happy Holidays!


2018 has been a banner year! It kicked off with a $9 billion acquisition of Juno Therapeutics, now a Celgene Company, continued with the first meeting ever between industry participants and seven institutes of higher education to explore our industry’s workforce challenges, and ended on a high note with outstanding jobs and industry growth reports. In total, we saw over $11.5 billion in life science transactions this year. The Washington industry employment numbers released at BIO this year (based on 2016 data) showed that we had the strongest job growth in almost a decade, and the preliminary numbers for 2017 - which we will release in January - are even stronger.


Life Science Washington would like to thank each one of you for your continuous support, innovation, dedication, and enthusiasm for this vibrant life science community. Your efforts are showcased below by the momentum across the board in the industry.


Your work is contributing to the momentum in our economy, our infrastructure, and in our workforce. And, we have the data to prove it:

  • $11.5 billion - life science transactions over the past year – including 3 highly successful exits. Even excluding the purchase prices of Juno Therapeutics, Cascadian Therapeutics, and Universal Cells, life science financings in Washington total $880M!
  • 33,564 - people in Washington who are employed by bioscience firms (BIO/TEConomy Partners)
  • $89,648 - the average salary of a life science job in Washington in 2016. In the private sector the annual wage was only $59,060 (BIO/TECononmy Partners)
  • Over $100 million - investments by the state in new life science facilities at our research universities
  • $35 million – amount included in University of Washington’s budget request for a new STEM building at UW-Bothell in partnership with Cascadia College. The new building will support additional degree production focused on the region’s rapidly growing life science cluster
  • $1.5 million - included in University of Washington’s budget request to increase degree production at UW-Bothell in support of the robust and growing biomedical cluster near the Bothell campus


The Year Ahead


2019 looks to be another great year for our industry. Life Science Washington commissioned TECononmy Partners to update our economic impact report. We just received the preliminary results—and they are tremendously promising. Early in Q1, we will release a full report. Be on the lookout.


2019 will bring continued Life Science Washington investment in talent recruitment and workforce development. In 2018 we had foundational conversations with institutes of higher education, medical device manufacturing and biopharmaceutical companies, and policy makers to understand the full depth and breadth of the challenges. Based on the material gathered our priorities are to close the gap between our colleges and universities’ life science and medical device manufacturing programs and the skills our industry needs in its workforce; raise the visibility of Washington’s life science industry with educators from K-12 through college and beyond; and support the efforts of our members to recruit, develop and retain top talent.


We are also rolling out a PR campaign to shine a bright light on our amazing industry. This year we engaged two PR firms to help design a campaign for building visibility of Washington’s life science industry across the state. Our goals are to modernize perceptions of our industry with key audiences across the state. As part of the project, we are creating PR assets (videos and a presentation deck) that capture the excitement of Washington’s life science industry. These assets will be made available for members’ use once completed.


We know that you are working on exciting and important life science solutions and we want to promote that great work. If you have intriguing or inspiring stories, please contact Sarah Healy, our Marketing & Communications Manager: sarah@lifesciencewa.org or (206) 456-9572.


Thank you for your ongoing involvement with Life Science Washington and the numerous ways you contribute to the sector. We look forward to working with you in the coming year.


-The Life Science Washington Team




 

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DeviceConnect - Session 2


Reality Check: Augmented Intellignece is the Future of Healthcare




Wednesday, February 13, 2019
 

What was once science fiction is now reality – technology has the ability to match (and surpass) the power of the human brain. There are numerous advantages to augmented and artificial intelligence (AI), and many industries are already leveraging it. In the realm of healthcare, AI can provide benefits ranging from streamlined patient care and increased physician productivity to a greater understanding of genetic, biologic and behavioral patterns. But, what does AI mean for the next generation of medical devices? What are medical device companies considering when they weigh the possibilities of applying embedded intelligence into their products? In this second session of our four-part DeviceConnect series, you’ll hear from experts in the Puget Sound region who are exploring the potential of AI for medical technology.


We've partnered with Product Creation Studio to present a four-part series, DeviceConnect. The series is to help professionals like you successfully develop and commercialize medical devices.


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News, Transactions, and Upcoming Events




Save The Date!


Life Science Innovation Northwest


April 24 - 25, 2019


The Pacific Northwest's biggest annual life science conference. A two-day event bringing together investors, research institutions, entrepreneurs, scientists, and life science companies. We're only missing you!


SPONSORSHIP OPPORTUNITIES AVAILABLE!

 

Life Science Innnovation Northwest 2019



BIO 2019

 

Exciting Member News:


As a valued member of Life Science Washington, we're offering you the opportunity to lock in a significant discount on two premier registration packages for the 2019 BIO International Convention in Philadelphia, June 3-6: Convention Access and Convention Access & Partnering.


Deadline to lock in discount: January 18, 2019!




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Washington State Transactions by Industry

 

Washington State December Investment Activity


Each month, the Life Science Washington Institute compiles an investment activity report summarizing transactions and trends in Washington's life science community. The report includes a continually updated list of angel funding, VC deals, M&A activity, and strategic partnership formations.






Life Science Washington hosts a lot of events throughout the year.

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