SWEDISH-AMERICAN LIFE SCIENCE SUMMIT
August 19-21, 2009 in Stockholm, Sweden.
This was the most exciting SALSS of all. Of course, I am biased but here was a summit with all the right attendees, all the right discussions, an exciting roster of presenting companies and a provocative look into the future. And if we needed any verification on how timely and relevant we were all you needed to look at was two articles in the Science section the New York Times of the following Tuesday.
Enlisting Computers to Unravel the True Complexity of Disease
http://www.nytimes.com/2009/08/25/science/25prof.html?emc=eta1
featured the pioneering work of Eric Shadt and Stephen Friend at Rosetta Inpharmatics and now at Sage Bionetworks.(Dr. Friend was one of our key panelists).
A second article, Research Trove: Patients’ Online Data
http://www.nytimes.com/2009/08/25/health/25web.html?emc=eta1
discussed the widening effort by patients and others to create online communities in which patients, scientists and doctors work together to share data and insights – a major part of our discussion on Friday morning.
SALSS V began in the midst of a perilous economy and a life science industry that is fast running out of answers -- and capital. For many the questions were about capital and financing strategies. And the Thursday morning panel, with Bill Haseltine as moderator, pointed to a number of solutions, public and private as well as governmental. What is evident is that the traditional sources of financing -- public investors as well as venture capitalists – are on the sidelines and not ready to invest in a hurry. The answers may lie in newly emerging private capital exchanges as well as smaller stock exchanges.
Thursday’s second panel discussed the role of big pharmaceutical companies in the life sciences – as drug developers, as marketers, as partners and capital providers. Astra-Zeneca’s Anders Ekblom explained in great detail the challenges that big pharmas face and how they expect to face the future. Big pharmas are still focusing on blockbusters but they are open to innovative programs and to acquisitions but they have become more selective and less generous. The message is clear, even in these difficult times, big pharma is sticking to plan. And smaller life sciences will have to find new and innovative ways to solicit their participation and capital as they move forward.
Beyond understanding how to work with big pharma and exploring new sources of capital and financing, SALSS V offered a radical new point of view. Although drug discovery continues to be traditional in its basic approach, the life science is increasingly adopting a wide range of strategies – many computer and information-technology driven. And for those interested in life sciences innovation and commercialization there are many more options available than those in the past.
Friday morning with presentations by Hans Wigzell, Mattias Uhlén and panelists Jesper Tegner, Stephen Friend, Andrew Hessel and Peter Frishauf was a process of discovery and revelation. And for many of those attending it not only helped put the present and future of life sciences in perspective, it also put the role of SALSS in a new light.
The presence of Diane DeGette, US representative from Colorado and one of the strongest proponents of healthcare change, was a significant one for SALSS. Not only did she provide an informed perspective on the current debate on healthcare reform, she also helped many of the attendees articulate their opinions and ideas on the issues surrounding healthcare.
In 2005, when Barbro staged the first SALSS, she felt that bringing together new companies, investors and dealmakers from Sweden and the US would fulfill an important need, fill a void. In 2009, SALSS has not only filled that void but moved beyond.
On to SALSS VI.