New Way for Life Science Firms to Find Partners
SAN DIEGO, June 27, 2012 /PRNewswire/ — As a response to the extraordinary growth of outsourcing in the life science industry and the expanding number of contract research organizations (CROs) in Southern California, BIOCOM launched a new CRO website (www.biocomcro.org) as a way to inform our life science members of the vast array of services that our local CRO community has to offer. One of BIOCOM’s members, 321 Medical Launch, designed and developed the website.
With time to market being a critical element in the success of biotechnology and pharmaceutical companies, life science companies can access a comprehensive CRO directory (powered by Assay Depot) and easily search for a CRO company based upon specific criteria. This directory provides ease of use while proving to be an invaluable resource. The website also features a drug development guide, which provides a detailed description of each phase of development and includes a list of CRO members who not only understand the key disease areas our members are working on but can assist in bringing safe and effective new treatments to patients. A resource section will also be available for companies to access best practices, FAQs and presentations from BIOCOM’s educational event series.
“Over the last few years, the Southern California CRO cluster has proven itself to be unrivaled anywhere in the U.S.,” said Joe Panetta, President and CEO of BIOCOM. “CROs have increasingly become invaluable partners for our life science companies by providing critical expertise essential to accelerating drug development thus allowing companies to utilize the services being offered here versus sending work overseas.”
In addition to the website, BIOCOM assists our members in developing relationships with each other through an educational event series, a Pharmaceutical Outsourcing Workshop and targeted industry networking events. On June 28, 2012, we will be holding an event entitled, “An Industry Perspective on Working with CROs” where BIOCOM will address the growing trend of producing results with shrinking timelines and budgets while utilizing the resources and expertise available through outsourcing with CROs. Topics to be covered include reasons for outsourcing, reasons for not outsourcing, small and local versus big and global, key elements for a successful project, and Southern California as a CRO hub.
Our Pharmaceutical Outsourcing Workshop will be held on September 20, 2012 at the La Jolla Marriott. This interactive, hands-on workshop will assist in establishing the right type of relationship between CROs and life science companies, whether it is fee-for-service or a strategic partnership. Participants will learn how to evaluate potential relationships by establishing prerequisites and due diligence goals, aligning responsibilities and objectives, improving effectiveness through better communications and managing partner expectations.
BIOCOM is one of the largest regional life science associations in the world, representing more than 550 member companies in Southern California. The mission of the organization is to accelerate life science success. The association focuses on initiatives that position the region’s life science industry competitively on the world stage, and on the development and delivery of innovative products that improve health and quality of life. This includes initiatives in capital formation, public policy, workforce development, and member services. More information about BIOCOM can be found at www.biocom.org.