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What’s Inside: Letter from Our LA Executive Director; Progress Toward Inclusive Leadership; LA Declares State of Emergency on Homelessness; Southern California Natural Gas Bill Increases; Global Life Science Partnering & Investor Conference; and more.
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Letter from Biocom California’s LA Executive Director
Thanks to all of you and our community, 2022 was a pivotal year for our industry in the greater LA region—the strength, resilience, and benefits of collaborating with the life science industry took center stage in several arenas. 2023 is our year to work with and focus our government leaders on supporting and investing in the life sciences, removing development barriers and continuing our growth momentum despite current macro-economic challenges. You are a significant component of this great energy and support, and we thank you for your time and investment thus far. We look forward to building on this success and achieving even greater heights together in 2023!
Read the full letter here.
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Welcome New Los Angeles Members
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LA Declares State of Emergency on Homelessness
Both the County and City of LA have declared a state of emergency on homelessness in the region. Recently sworn-in LA Mayor Karen Bass made the declaration her first act in office. The state of emergency will help clear the way for efforts to improve upon the housing crisis both at the city and county levels.
Natural Gas Bills Increase for Many Southern California Residents
While natural gas prices have plunged in many parts of the country, Southern California Gas Co. and San Diego Gas & Electric have warned customers that their January bills could double. The historically high gas costs are mainly due to sinking inventories, supply constraints, and the colder-than-normal temperatures seen at the start of the year.
LA Council President Releases New Council Committee Assignments
The new council committee assignments, released by Council President Paul Krekorian and subject to approval by the full council, include five new members joining the council. Krekorian appointed Councilman Bob Blumenfield to chair the Budget and Finance committee and consolidated the Homelessness and Poverty Committee with the Housing Committee to create the Housing and Homelessness Committee.
Additional Highlights:
- LA City Council approved a $50 million emergency fund for Mayor Bass’ homeless initiative.
- Seven candidates have qualified for the ballot in the special election to replace former Los Angeles City Councilmember Nury Martinez.
- The LA City Council voted to extend the local state of emergency in the city after recent storms brought heavy rainfall.
- LA County seeks to implement CARE Court, Gov. Gavin Newsom’s program to connect individuals with severe mental illness to housing and treatment, by December 1, 2023.
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ICYMI: Biocom California 2022 Life Science Economic Impact Report
Last November, Biocom California launched our 2022 Life Science Economic Impact Report—a refreshed analysis and vital barometer of the profound impact the life science industry has in California. The 52-page report created in partnership with Deloitte reveals how California continues to be the leading innovation hub for life sciences, providing more than 400,000 jobs in the state and generating $376 billion in total economic output. The Los Angeles Cluster employs 91,633 total direct life science employees and receives the most NIH and NSF funding of any county in California. The industry is a significant contributor to the region with over $87 billion in economic impact in 2021. Learn
more here.
Coming Soon: A New Life Science Founder and Investor Fundraising Platform
Today’s world is more connected than ever, and we believe that the fundraising and investing processes should be as well. That’s why Biocom California is launching an all-new fundraising platform, enabling you to discover new investment opportunities, streamline your fundraising efforts, and build your network. Our one-stop platform is launching next month at our Global Partnering and Investment Conference and is built with both founders and investors in mind. Preparing to raise your next round of funding? Looking for the next undiscovered investment opportunity? We are here to help.
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Developing our Future Workforce
An unwavering shared mission of both our Biocom California Institute and Generation STEAM is ensuring a pipeline of talent for generations to come. We are bringing genomics education to the classroom through our partnership with Illumina Genomic Discoveries, Life Science Young Leaders program, San Diego Festival of Science & Engineering, and expanded program offerings in Los Angeles and the Bay Area in the months ahead.
Support Diversity through Mentorship, Internships, and Company Tours
One of our newest members, Charles R. Drew University of Medicine and Science, is the only HBCU (historically Black colleges and universities) in California. Generation STEAM, Biocom California’s nonprofit affiliate, has teamed up with the university to support CDU’s Biomedical Sciences Enrichment Program, a 10-month program designed to expose students to careers in biomedical, biotechnology and biopharma industries, with a goal of diversifying the talent pool within the field by incorporating Black and Latino students. Students are predominantly biomedical and biotech research undergrad and grad students who were selected to participate in the program via an application process. We are looking for
individuals and companies alike to support this program via mentorship, summer internships, and/or company tours. Contact Silvana DelPiccolo to learn more.
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Sustainable Procurement Practices Webinar | February 7
Each member company is on their own journey towards sustainable goals, and our purchasing portfolio is equipped with environmental partners eager to work with them every step of the way. This webinar aims to address ways in which our members can leverage their purchasing power to promote sustainability and achieve their science-based KPIs. Our panel of speakers will discuss sustainable procurement practices for laboratories and office spaces, as well as the importance of sustainably managing byproducts and choosing disposal methods. Register here.
Save the Date: Earth Day Sustainability Reception | April 20
The next event in our sustainability series is our 7th Annual Earth Day Sustainability Reception on April 20 in San Diego. Hear from top industry experts as they discuss unique sustainability challenges our industry is facing and the innovative solutions our members and partners are using to combat the climate crisis and improve the human condition. Register here.
Applications for Low-Interest Financing Extended Until March 10
Innovation often comes with a high price tag. Thankfully, Thermo Fisher is making it easier to maximize resources and enable success through their Financial Solutions program. We are proud to announce applications for their limited-time, low-interest rate offer has been extended until March 10. Participants may receive interest rates as low as 4 percent on all Thermo Fisher products and services; well below the market prime rate of 6.25 percent. Learn more here.
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Los Angeles Life Science Happy Hour
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Thursday, February 23
Father’s Office
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Biocom California and Fisher Scientific invite you to a happy hour at Father’s Office in Culver City to network with fellow life science enthusiasts in the greater Los Angeles region. This event aims to help build and foster the community and promote idea sharing to accelerate growth in the region.
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Spotlight on Thousand Oaks & Westlake Village
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Wednesday, March 15
Virtual
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Join us for the next installment of our Greater LA Spotlight series where we highlight life science industry trends, challenges, and opportunities in various micro-clusters across the region. In this upcoming webinar, we are going to revisit Thousand Oaks and Westlake Village to learn about the investment dollars flowing into the region and the explosive industry growth since since 2021.
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UCLA MedTech Partnering Conference
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Tuesday, February 28
UCLA Luskin Conference Center
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Join us for a unique opportunity for inventors, investors and industry executives to establish new relationships for furthering innovation in this field. The conference will feature exciting panels that highlight recent developments and cutting edge technology.
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Global Life Science Partnering & Investor Conference
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February 28 – March 3
The Lodge at Torrey Pines
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Join us for an exclusive global partnering and networking forum that brings together senior executives, bankers, venture capitalists, and business development professionals from leading pharmaceutical and biotech companies.
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Member & Industry News
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Accendowave‘s CEO Martha Lawrence shared insight on how employers can provide resources to improve the mental health of employees, their families, and communities.
Armata Pharmaceuticals announced closing $30M secured convertible credit agreement with Innoviva Strategic Opportunities LLC.
Atara Biotherapeutics received European Commission approval for Ebvallo (tabelecleucel), the first therapy for adults and children with EBV+ PTLD.
Cal State LA will resume the BioStart Bioscience Entrepreneurs Boot Camp that prepares emerging bioscience entrepreneurs to launch their own ventures.
City of Hope opened a five-story, 147-room patient hotel to accommodate those recovering from cancer treatments, families, and traveling medical professionals.
CTIP announced the 2023 Annual Health Equity FlexGrants; deadline to apply is Friday, February 10, 2023.
Dantari raised $47M in Series A funding, which will go toward building a proprietary platform for developing oncology drugs.
Grifols and Provivi were finalists in the Los Angeles Business Journal‘s International Business Awards for leadership in essential plasma-derived medicines and for sustainable crop protection, respectively.
ImmunityBio received an additional $107M in financing from founder Patrick Soon-Shiong.
Kite acquired 50 percent stake in cancer drug developed by Bay Area pharma company Arcellx for $225M in cash and $100M in equity investment.
LA Economic Development Corp announced Chief Operating Officer Stephen Cheung will assume the role as chief executive and president of the organization.
PBS Biotech raised $22M to expand single-use manufacturing products and services for cell therapy clients.
USC unveiled plans for a new research facility at its Health Sciences Campus.
Submit your news here.
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Biocom California | Greater Los Angeles
Biocom California is the largest, most experienced leader and advocate for California’s life science sector. Our Los Angeles office aims to build the networks that are critical to growth in this thriving regional ecosystem. Our targeted programs and customized services are tailored to the specific needs of the Greater Los Angeles area, as we understand the life science sector’s unique challenges in the region and are collaborating on working toward solutions. We work on behalf of more than 1,700 members to drive public policy, build an enviable network of industry leaders, create access to capital, introduce cutting-edge STEM education programs, and create robust value-driven purchasing programs.
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