Press Release.

FOR IMMEDIATE RELEASE

Contact: Mike Duff
(703) 647-6214
mduff@alssa.org

 

ALSSA Fall Conference Assesses State of Personalized Medicine

 

Alexandria, VA (October 5, 2011) —Personalized medicine offers great market potential but there are major headwinds, Sue Siegel, a partner with the venture capital firm Mohr Davidow Ventures, told attendees at ALSSA’s Senior Management Conference in Laguna Beach, California on October 2.

According to Ms. Siegel the global market for molecular diagnostics products is projected to grow from $4.4 Billion today to $15 Billion by 2014, a faster pace than the life science tools and in vitro diagnostics markets. Although oncology and infectious disease applications are drawing initial interest, other important emerging uses include prenatal, inherited diseases and pharmaco diagnostics.

Ms. Siegel further said technology and the ability to do DNA sequencing for less cost is driving the market’s evolution, and that there are tremendous opportunities in informatics. Although technology, reimbursement, regulatory and financing are headwinds, the tailwinds include the aging population, deteriorating lifestyles, consumerization of healthcare, globalization of the entire value chain, and the unsustainable economics of drug discovery and healthcare delivery.

Ms. Siegel also shared Mohr Davidow’s investment criteria for funding personalized medicine ventures:

  • Invest in markets, people, and technology;
  • Expect product in 3-5 years;
  • Strong IP position;
  • Capital efficient business models;
  • Limited regulatory risk;
  • Clear reimbursement path(s); and
  • Strong health economics story.

In addition to Ms. Siegel, other speakers at the Conference included:

  • Raju Kucherlapati, Professor of Genetics and Medicine at the Harvard Medical School.
  • David Johnson, Senior VP of Clinical Trials at LabCorp.
  • Rade Drmanac, Co-Founder and Chief Technology officer of Complete Genomics
  • Jay Wohlgemuth, Vice President of Science & Innovation at Quest Diagnostics’ Nichols Institute.
  • Sheila Walcoff, a Washington attorney and former official with the US Department of Health and Human Services and the FDA.

 

For more information regarding ALSSA and its meetings for senior executives, contact Mike Duff, President of ALSSA, at 703-647-6214. More information regarding ALSSA can be found at www.alssa.org.

ALSSA is the primary trade association for companies that develop and market technologies and solutions that enable scientific discoveries worldwide and applications which benefit society and lead to advances in healthcare, industrial innovation, and a safe and clean environment.

ALSSA members provide the “tools” and “solutions” essential to conduct research, testing, discovery and product development in a wide range of industries and applications including:

  • Pharmaceuticals and Drug Discovery
  • University and Scientific Research
  • Biotechnology
  • Forensics
  • Chemicals and Chemical Processing
  • Molecular Diagnostics Testing
  • Food Safety
  • Environmental Testing
  • Medical and Life Science Research

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