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What’s Inside: Introducing Converge; Abbvie Acquires Cerevel for $8.7B; FDA Approves Two Gene-Editing Therapies; Dr. Julianne McCall Awarded Biocom California’s Government Official of the Year; and more.
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We’re championing the progress made by California’s life science community and want to hear about your company’s latest scientific breakthrough, investment milestone, or commitment to creating positive change for our industry. Submit your story here for possible inclusion in an upcoming issue. |
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What’s Happening at Biocom California
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Introducing Converge: Connecting the Brightest Minds in Tech and Life Science to Shape New Frontiers in Healthcare
In an era dominated by digital innovation, healthcare is undergoing a remarkable evolution, poised to unlock the potential for increasingly personalized diagnostics and therapeutics. California’s vibrant tech and life science ecosystems are uniquely positioned to lead this transformative journey. To foster collaboration and accelerate health solutions for patients globally, we have launched Converge by Biocom California, a cross-sector community where the brightest minds in technology and life sciences gather to shape and navigate new frontiers in healthcare. This initiative aims to convene those playing a role in realizing this transformation, including: life science professionals; medtech experts; tech executives; healthcare providers; and academic institutions. Join the Converge community now to receive updates about upcoming events, meet ups and news.
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Biocom California Continues Strong M&A Support
Biocom California has been involved in several high-profile efforts to demonstrate the importance of M&A in life sciences as part of our affiliation with PULSE. Last Friday, Biocom California CEO Joe Panetta was quoted in Politico about the importance of M&A: “The heart of our industry is mergers and acquisitions,” he said. Tyler Morris, director of capital development at Biocom California, participated in a webinar on the importance of M&A in life sciences.
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Industry Intelligence & Member Moments
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Biocom California’s Government Official of the Year
In November, Biocom California awarded Dr. Julianne McCall with the 2023 Government Official of the Year Award. This recognition is not given every year, but only when a government official has demonstrated an appreciation, understanding, and strong support for the life science industry. Dr. McCall, Governor Gavin Newsom’s Director of Precision Medicine in his Office of Planning & Research, spearheaded California’s response to the Biden Administration’s ARPA-H call to develop a nationwide health innovation network. California is fortunate to have a talented and energetic scientist who is dedicated to advancing health equity and elevating policy solutions leading our precision medicine efforts. We believe Dr. McCall’s work will anchor our state’s leadership position in many promising fields, including cell and gene therapy, and look forward to working with her to advance that leadership.
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California Faces Record $68B Budget Deficit
California is facing a record $68 billion budget deficit, the nonpartisan Legislative Analyst Office announced recently. Due to the state of emergency from storms earlier this year, state officials gave people and businesses until November 2023 to pay their taxes. This meant Gov. Gavin Newsom and the Legislature had to determine the budget without know how much money the state had to spend. Ultimately, their estimates were off by $26 billion, a major driver of the deficit. When combined with the economic slowdown California has been facing since last year, it leads to the predicted deficit of $68 billion. Newsom will present his plan to cover the deficit in January and negotiations with state lawmakers will continue through June 2024.
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Pasadena Approves Zoning Changes Initiated by Biocom California
Pasadena City Council voted in favor of a package of land use zoning changes aimed at expanding and attracting the life science industry. The revised regulations include greater allowances for building heights and use of roof space, removing distinctions between office and non-office uses for R&D, and easing restrictions on parking and open space requirements. Biocom California worked closely with the city throughout the process to write and approve these changes, and we are happy to have a hand in making the city more life science friendly.
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San Diego City Council Approves Housing Action Package 2.0
On December 12, San Diego City Council voted 7-1 to approve Mayor Todd Gloria’s Housing Action Package 2.0, which came back to council after passage failed last month. The package builds on the city’s ADU program, promotes the building of moderate-income housing, and incentivizes the conversion of empty shopping malls and large parking lots into housing, among other reforms. Biocom California staff spoke at council’s hearing in support of additional housing density and workforce housing. With the city being very behind on its state-mandated low- and middle-income housing goals, supporters are hopeful that passage will result in the building of additional homes that are attainable for all San Diegans.
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Biocom California
For over 28 years, Biocom California has helped move the life science industry forward with transformative resources that enable companies to make meaningful connections. With a membership base of over {{{dynamic_content_1600}}} companies, we connect our members to each other so they can collaborate and work stronger and smarter together. We connect organizations to capital investment and purchasing solutions so they can grow faster and work more efficiently. We’re their link to advocacy that fights for innovation and we provide an environment where their business and talent can thrive. Biocom California is how the life science industry gets connected.
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