At a conference in Washington last week organized by the Personalized Medicine Coalition (PMC) and the Biotechnology Industry Organization (BIO, both of Washington DC), the world of diagnostics/pharma, clinician- and patient-interest groups, and payors met to discuss the commercialization directions of the companion diagnostics world.
The pace of the transition from scientific discovery to the marketplace in any specific medical field often affects the excitement that one sees in that industry from a clinical and commercial perspective. Technology advances in the device world – due partially to a less onerous regulatory environment – tend to reach the exhibit floor more rapidly than biopharma clinical outcomes.
With the startup culture pervading many parts of the Israeli environment, academia might be one area that could still do with a boost. The natural entrepreneurial approach is often less present in academia (even in Israel). As a result, encouraging the academic to consider applications has been a key issue in Israel (and elsewhere) for a while.
Last month, Israel's Chief Scientist Office reported that he would be adding a further tool to its arsenal of strategies to help its biomedical startups. Given the large number of high-quality companies seeking seed-stage capital funding there is a need to better balance the limited capital available for such companies.