Transcript Slide 1

What’s next for Biotech?
2014: An Epic year for MA Biopharma
$1.2 billion
$1.18 billion
58,000
7 FDA Approvals
40 %
Venture Capital
IPOs
10-year
Employment
Growth
1,434
Drug Candidates
In Development
MA Biopharma Industry Employment
Employment in
the industry has
grown 9-10
times faster than
state and national
growth rates for all
employment.*
57,642
54,280
54,829 55,342
56,097
56,462
51,518
46,117
43,904
41,128
40 %
*4.8% MA 10-year
employment growth, all
industries
4.1% U.S. 10-year
employment growth, all
industries
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages (QCEW); MassBio
7-Year Employment Performance:
Biotech Research & Development*
Massachusetts
has more
employment
classified as
Biotechnology
Research and
Development
than any other
state.*
*NAICS 541711:
Research and
development in
biotechnology. This
classification has
only existed for the
last seven years.
2007
2013
=/-%
Massachusetts
24,656
28,042
13.7%
California
19,134
24,196
26.5%
Pennsylvania
16,902
10,854
-35.8%
Maryland
10,154
8,014
-21.1%
New Jersey
8,567
9,362
9.3%
North Carolina
7,042
7,080
0.5%
Michigan
4,670
2,678
-42.7%
Missouri
4,262
3,437
-19.4%
Texas
4,229
4,861
14.9%
Ohio
2,696
3,100
15.0%
New York
2,679
4,119
53.8%
Washington
2,499
3,602
44.1%
Connecticut
2,452
2,963
20.8%
Illinois
2,403
2,963
23.3%
Indiana
1,277
1,657
29.8%
Florida
737
2,370 221.6%
Source: U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages (QCEW)
Biopharma Manufacturing Employment, 2013
Massachusetts is also a leading state in biopharma manufacturing,
with 1 out of 5 jobs in the industry involved in manufacturing.
With over 600,000 liters of mammalian cell culture manufacturing
capacity in the region*, Massachusetts in this type of biologics
manufacturing expertise.
*Including two factories in RI and NH
Source: Analysis by Elisabeth Reynolds, MIT Industrial Performance Center, Data from Bioprocess Technology Consultants.
Venture Capital Investment
Venture
investment in MA
rose to a record
$1,202 billion in
2014.
Investment in Massachusetts Biotech Companies, 2005-2014
$1,400,000,000
$1,200,000,000
$1,000,000,000
$800,000,000
$600,000,000
$400,000,000
$200,000,000
$0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Source: EvaluatePharma®
2014 Massachusetts IPOs
18 IPOs for
Massachusetts
companies in
2014 – twice
as many as
the previous
record year of
2013.
$100 M*
$65 M
$12 M
$32.7 M
$59.5 M
$65 M
$84 M
$61 M
$90 M
$52 M
$90 M
$90 M
$65 M
$91 M
$66 M
$96 M
*Figures refer to “offer amounts” (investment secured) at time of IPO
Source: Nasdaq.com, BioSpace
Top NIH-Funded Independent Hospitals, 2014
Eight of the top
14 NIH-funded
independent
hospitals are in
Massachusetts.
Please note:
NIH lists
Universityoperated
hospitals
separately.
ORGANIZATION
MASSACHUSETTS GENERAL HOSPITAL
BRIGHAM AND WOMEN'S HOSPITAL
CHILDREN'S HOSPITAL CORPORATION
DANA-FARBER CANCER INST
CHILDREN'S HOSP OF PHILADELPHIA
BETH ISRAEL DEACONESS MEDICAL CENTER
CINCINNATI CHILDRENS HOSP MED CTR
ST. JUDE CHILDREN'S RESEARCH HOSPITAL
NEW YORK STATE PSYCHIATRIC INSTITUTE
SEATTLE CHILDREN'S HOSPITAL
BOSTON MEDICAL CENTER
CEDARS-SINAI MEDICAL CENTER
TUFTS MEDICAL CENTER
MCLEAN HOSPITAL
CITY
BOSTON
BOSTON
BOSTON
BOSTON
PHILADELPHIA
BOSTON
CINCINNATI
MEMPHIS
NEW YORK
SEATTLE
BOSTON
LOS ANGELES
BOSTON
BELMONT
STATE
MA
MA
MA
MA
PA
MA
OH
TN
NY
WA
MA
CA
MA
MA
AWARDS
770
558
301
207
192
240
251
89
99
84
85
76
45
81
FUNDING
$349,524,060
$319,409,432
$122,949,506
$122,652,215
$112,146,779
$108,156,442
$97,854,412
$48,650,426
$46,903,956
$39,068,563
$38,130,340
$34,423,825
$27,737,457
$25,413,803
Source: NIH, Research Portfolio Online Reporting
Drug Development Pipeline, by Phase
The MA drug
development
pipeline
remains
strong.
535
1,384
drug candidates in development
6% of the global pipeline
12% of the U.S. pipeline
452
Massachusettsheadquartered
company
pipelines only
included.
164
160
64
9
Research Project
Pre-Clinical
Phase I
Phase II
Phase III
Filed
Source: EvaluatePharma®, July 2014
Massachusetts Pipeline by Therapeutic Area
Gastro-Urinary, 2%
Respiratory, 2%
Dermatology, 1%
Blood, 3%
Endocrine, 3%
Cardiovascular, 3%
Gastro-Intestinal, 4%
Oncology
35%
Therapeutic Area
Candidates
Oncology
487
Systemic Anti-infectives
222
Central Nervous System
196
Other
102
Sensory
62
Musculoskeletal
75
Gastro-Intestinal
51
Cardiovascular
48
Endocrine
42
Blood
34
Gastro-Urinary
24
Respiratory
27
Dermatology
14
Total
1384
Musculoskeletal
5%
Sensory
5%
Other
7%
Central Nervous
System
14%
Systemic Antiinfectives
16%
Source: EvaluatePharma®, May 2014
Largest Industry Employers in MA, 2013
Genzyme, a
Sanofi
company, has
long been the
largest
employer in the
industry in
Massachusetts.
Since 2013,
several
companies
have
significantly
increased in
employment,
including
PerkinElmer,
AbbVie, and
Amgen.
1
Genzyme, a Sanofi Company
4,356
15 PerkinElmer
850
2
Biogen Idec
2,800
16 AbbVie
700
3
PAREXEL International
2,800
18 Sunovion Pharmaceuticals (DSP)
650
4
Pfizer
2,700
19 Cubist
638
5
Novartis
2,100
20 Merck
500
6
Hologic
1,800
21 Bristol-Myers Squibb
400
7
Shire
1,500
22 Lantheus
375
8
Vertex
1,450
23 Alkermes
325
9
Thermo Fisher Scientific
1,400
24 New England Biolabs
280
10 EMD Millipore
1,261
25 Organogenesis
274
11 Millennium: Takeda Oncology
1,204
26 Cell Signaling
270
12 Charles River Laboratories
960
27 Immunogen
270
13 AstraZeneca
900
28 Ironwood
260
14 EMD Serono
855
29 Sanofi
250
15 Nova Biomedical
855
30 Amgen
250
Sources: MassBio Membership Reports & Surveys; Boston Business Journal Book of Lists, 2013
Recent Drug Approvals for MA Companies
Alproliz: For the treatment of hemophilia B
Entyvio: For treatment of adults with ulcerative colitis and Chrohn’s Disease.
Sirextro: For treatment of acute bacterial skin and skin structure infections
Plegridy: For the treatment of relapsing forms of multiple sclerosis
Cerdelga: For treatment of adults with the Type 1 form of Gaucher disease
Lemtrada: For the treatment of relapsing multiple sclerosis
Zebraxa: To treat adults with complicated intra-abdominal infections (cIAI) and
complicated urinary tract infections (cUTI).
Source: CenterWatch
Changing the Lives of Patients
More than 160
drugs have been
commercialized
by current
Massachusettsheadquartered
companies.
Massachusetts-headquartered companies have developed
therapies that focus on patient populations of
232,434,000 patients
IN THE UNITED STATES
1,507,722,000 patients
AROUND THE WORLD
Sources: Developed from multiple sources including EvaluatePharma®, emedicine medscape, NCBI, CDC
Life Sciences Lab Inventory Growth
Current Construction
Completed in 2013-14
MA has
added
5,140,009
square feet
of lab space
since 2007.
21,203,999 s.f.
16,063,990 s.f.
Vertex, Boston
Novartis, Cambridge
Pfizer, Cambridge
Longwood Center, Boston
2007
2014
Biogen Idec, Cambridge
Alexandria Center, Cambridge
Source: Colliers Meredith & Grew, Life Science Review, 2007-2013, CBRE - NE BioView, 2014
Does $65 per square foot in Kendall Square mean we’re finished?
Boston beckons
Still some room to grow in Kendall
Watch the Inner Suburbs
Alewife, Watertown, Medford, Somerville
and . . .
Concentration & Competitive Price Points
Top 10
communities
by number of
biopharma
companies*
Cambridge (130)
Boston (41)
Worcester (34)
Waltham (29)
Lexington (28)
Woburn (25)
Watertown (16)
Bedford (15)
Marlborough (10)
Beverly (10)
There are 130
biopharmas in
Cambridge . . .
and over 400 more
outside of
Cambridge
Where Next?
More Communities, More sophistication,
Greater Appetite, Greater Opportunities
BioReady® Communities