MedCity News provides with the latest update of innovations in healthcare and venture capital investment. It creates events that discuss innovations and changes in healthcare and focuses on a converged ecosystem that brings together all sectors of healthcare. Though MedCity News has covered the broad spectrum of the business of healthcare and healthcare innovation, medical technology and digital health has always considered more prominently than its biopharma coverage. The biotech century has arrived, and this has become most important to highlight the coverage of biopharma.
In the U.S. market, there are two cell therapies and one gene therapy which are approved by the Food and Drug Administration for the last couple of years. The FDA Commissioner Scott Gottlieb planned to hire 50 new cell and gene therapy reviewers by the agency, as it anticipates approx 200 such therapies entering the clinic annually starting next year, with 10-20 approvals per year by 2025.
The biopharma startups are raising more amounts of money, and the biotechnology sector has to lead the healthcare industry in regard to the money invested in the fourth quarter building about $978 million, compared with more than $2.1 billion in the third quarter as according to the report of PwC’s MoneyTree Life Sciences. The J.P. Morgan Healthcare Conference if growing mostly by biopharma and the multitudes of people, who are going to industry meetings like BIO and medical meetings especially in areas like hematology-oncology—the biotech era has undoubtedly arrived.
Biotechnology has advanced much in recent years from interferons in the 1980s to monoclonal antibodies in the 1990s, snowballing into the advanced monoclonal antibodies, cell therapies, and gene therapies of the last decade. With the rapid development in biotechnology, pharmaceuticals have seen significant advancements as well.
The MCN covers the areas of digital health and medical technology which is slowly converging in the field of biopharma. A company prescription digital therapeutics to complement drug therapy like Pear Therapeutics to the mushrooming firms utilizing artificial intelligence and machine learning to augment drug discovery and development—the two areas are noticeably starting to occupy a shared space.