Life Sci Investing in 2023
The co-founder of Bloom Burton talks about the investment group's annual Healthcare Investor Conference and tech trends in the healthcare industry (700 words, 3.5 minutes)
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Brian Bloom, the irrepressible CEO of Bloom Burton & Co., identified highlights at this year’s recent Bloom Burton Healthcare Investor Conference while speaking on an episode of the NPC Podcast, released earlier this month.
Bloom tapped the conference keynote address by U.S. scientist John Maraganore, PhD as an outstanding session. “He told the story of how he came up with and commercialized RNA genetic medicines,” Bloom said. “His company, Alnylam, has a Canadian subsidiary now and has brought five drugs to market. That was an inspiring story, something that many Canadian CEOs can aspire to in the biotechnology space.”
Bloom said another memorable address was delivered by Carl Hanen, CEO of Vancouver’s AbCellera Biologics. Said Bloom: “He really laid out the future of AbCellera and how they’re going to surpass a thousand employees in Canada. They’re building a huge campus in Vancouver and they're spending both private and government capital on a new paradigm for antibody discovery.”
Bloom [pictured below] said the panellists were also key to the success of the meeting. “They were able to share their views of the market,” he said. “The volatility and the ups and downs, the boom and bust, that we are experiencing in the market. They helped the audience make a lot of sense as to what's going on both in the private and public investment markets.”
Bloom also described tech trends in the healthcare industry as promising and exciting: “A lot of people are looking to accelerate from target to lead molecules based on non-wet lab or in silico small molecule design and optimization.”
One significant trend in biotech is the emergence of genetic medicines and multiple innovative approaches to translate concepts and insights about diseases into potential therapeutic solutions, he explained.
Bloom said there is the capability to gain a genetic understanding of diseases and create genetic medicines through techniques such as gene editing and gene therapy. “The tool kit that we have to pull out to actually use to make new drugs has dramatically expanded and modernized, and that's the other major trend besides the whole AI and big data aspect of drug discovery,” he said.
THIS WEEK 06/20/23
Health Canada approved Sun Pharma’s clascoterone 1% cream (Winlevi) for the topical treatment of acne vulgaris in patients 12 years of age and older.
Janssen announced Health Canada has issued a Notice of Compliance with conditions for niraparib and abiraterone acetate tablets (Akeega) for treatment of adult patients with deleterious or suspected deleterious BRCA mutated metastatic castration resistant prostate cancer.
The U.S. FDA approved Genentech’s glofitamab-gxbm (Columvi) for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma not otherwise specified or large B-cell lymphoma (LBCL) arising from follicular lymphoma.
The U.S. FDA granted approval to Novaliq GmbH’s cyclosporine ophthalmic solution (Vevye) for treatment of dry eye disease.
LISTEN UP
In season 10 of the NPC Podcast, Brian Bloom, CEO of Bloom Burton & Co., discusses the Canadian investing landscape for pharma companies, tech trends in the healthcare industry, and expectations for the upcoming Bloom Burton Award Gala. Hear him in conversation with podcast hosts Mitch Shannon, Jim Shea and Mark McElwain.
HEALTHBIZ REWIND
This feature of NPC Healthbiz Weekly looks back at some of the most insightful moments from previous NPC Podcast episodes. In Healthbiz Rewind, you’ll read bold life sci predictions made during the renowned “Prognostication Korner” segment of the NPC Podcast.
Mark Lievonen
Principal
JML Advisory Services
Whitchurch-Stouffville, Ont.
Season 6, episode 01
Listen to this episode here
What bold predictions will you make about the life sciences industry during the coming 12 to 24 months?
It kind of ebbs and flows, but I hope we’ll get the pandemic behind us and we can get on with things. I am concerned when we see the vaccination rates that we have. If you’d told me a year ago that we’re going to have these vaccination rates and we’re still going to have these kinds of cases breakthrough, I would have been doubtful. I hope we will take the right measures and survive economically, psychologically and from other health perspectives.
I am an optimist, so I think we’ll get there, but there are going to be bumps along the way.
NEXT WEEK
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