Impact 2020 Report Executive Summary
Four themes dominated discussions during the Impact 2020 strategic assessment. Each one leads to a set of recommendations to ensure the industry’s success into the future:
1. Demonstrating Value – There is a genuine concern across the industry that the intense focus on reducing healthcare spending will undermine the reward for innovation, elevate the risk for companies and investors, and stymie life sciences research and development.
2. Supporting Company Formation and Sustainability – Without focused, consistent support and attention, life sciences companies, particularly at the seed and Series A levels, will be at risk. Alternative sources of funds may not fill the gap, leading to fewer companies forming and surviving.
3. Opportunities in Life Sciences Information Technology – Massachusetts has an important opportunity to take the lead in developing information-based solutions that increase efficiency and mitigate risk at all levels of the biopharma value chain, from basic research to patient care.
4. Articulating the Patient Focus – The industry appears on the verge of major medical breakthroughs, yet concerns about company formation and reimbursement policies could prevent the benefits of those therapies from getting to patients.