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MichBio | July BioLink

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MichBio is evolving.
 
In an effort to be more nimble, more engaged, and provide more critical services to Michigan’s bio-industry, we are making some changes. You’ve already seen the new and improved monthly newsletter featuring advocacy updates, new members, consultant spotlight, and more, coming soon you’ll be introduced to our new and improved website as well.
 
What’s more, for the last year, we have been slowly transitioning backend operations to a new CRM with built-in features that will improve our communications, engagement reporting, and event logistics capabilities all while giving you an updated user portal.
 
In the coming weeks, you will see an increasing number of functions come online in the new portal and, at some point, you will either click through one of our links or be asked to login to the system and set up your new username and password.
 
Undoubtedly there will be some minor bumps in the road as we migrate to the new system, but we are excited at the increased functionality it brings, and will be ready to help you gain access to the user portal should you encounter any trouble.
 
Is Your Medtech Startup Ready for Investment?
 
Do you meet these qualifications:
 
  • Team identified and startup formed: First-time founders with management team and key roles identified – no solo founders. Incorporated as a legal entity by the beginning of the program.
  • Early Market validation: Validated customer segments and initial evidence of product market fit. Articulation of economic value proposition and evidence of patient or clinician buy-in.
  • Intellectual Property: Provisional patent(s) filed and assigned to the company or a clear pathway to the license.
  • Technology Validated: Initial prototype developed, pre-clinical trials or animal studies underway. Innovation must be physical/device-based; no software-only products.
  • Actively Fundraising: Company has raised at least $25K (grants or equity) and is preparing for an equity investment round within 12 months.
  • Positive Impact on Patient Outcomes: Clearly articulated assessment of how your technology will have a positive impact on patient outcomes and lower the cost of quality healthcare.
  • Commitment: Management team, including CEO or founders, should commit to the full program. CEO must serve as the main point of contact and should attend all sessions. The program requires meeting participation on Mondays, Wednesdays, and Fridays for 1-2 hours each day. The startup must be your full-time focus.
 
Then you may be eligible for help from ASPIRE to pinpoint your fundraising needs and develop deal room materials you need to back up your ask.
 
APPLICATION DEADLINE: AUGUST 17
 
Register Now for BIO Impact Digital – September 21st and 22nd
 
MichBio Members Save $300 Before August 14!
 
To overcome today’s global challenges-and set forth towards a sustainable future-we must embrace the key role biotechnology plays in protecting our planet’s resources, driving a strong economy and improving people’s lives. From innovations in food and on the farm, to biobased manufacturing and green energy breakthroughs, advances in biotechnology bring solutions to challenges facing agriculture and the environment.
 
BIO IMPACT brings together global leaders working to address today’s global challenges for two days of education, networking and BIO One-on-One Partnering™. 
 
MichBio joins Partnership for Chronic Disease to Award Representative Fred Upton the “2020 Champion for Healthy Seniors Award”
 
The award recognizes Rep. Upton for his leadership in protecting seniors and those with chronic conditions by protecting access to affordable medications and in-home treatments.
 
Advocacy at the Federal Level
 
MichBio Signs Letter Asking Congressional Leadership to Prioritize Funding for Covid Testing. MichBio signed on to a letter organized by the Advanced Medical Technology Association (AdvaMed) to U.S. Senate Majority Leader McConnell, Democratic Leader Sen. Schumer, House Speaker Pelosi and House Minority Leader McCarthy.
 
The letter, signed by approximately 50 organizations including the U.S. Chamber of Commerce, National Association of Manufacturers, Business Roundtable and Healthcare Leadership Council, among others, urges Congressional leadership to provide adequate funding that ensures every American has access to vital Covid-19 testing irrespective of purpose. 
 
President Issues Executive Orders to Lower Drug Prices – Bio-Industry Groups Oppose. President Trump issued a series of Executive Orders (“EOs”) related to drug pricing. Several of the EOs seek to restart stalled or withdrawn policy initiatives previously announced by the Administration: 
 
  • The Executive Order on Lowering Prices for Patients by Eliminating Kickbacks to Middlemen instructs the Secretary of Health & Human Services (HHS) to issue rulemaking excluding rebates negotiated with Pharmacy Benefit Managers on behalf of Medicare Part D and Medicaid Managed Care plans from safe harbor protections under the anti-kickback statute. Of note, the EO includes a provision requiring the Secretary to confirm that any rulemaking would not increase federal spending, Medicare beneficiary premiums, or patients’ total out-of-pocket costs. This EO is curious given that the Administration withdrew its previous rebate rule over concerns that the rule would increase beneficiary premiums and Medicare costs.
 

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P.O. Box 15279
Lansing, MI 48906

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