What’s Inside: Element Biosciences Raises $277M; Reaffirm Your Commitment to DEI by Signing Our Member Pledge; FNIH Launches Project to Find Biomarkers for Parkinson’s; Update on the IRA’s Drug Price ‘Negotiation’ Program; and more.

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.

What’s Happening at Biocom California

Over 200 Attend Third Annual Greater LA Life Science Forum  

Our third annual Greater LA Life Science Forum on July 18 was sold out for the second year in a row with 200 attendees gathering at the Luxe Sunset Boulevard Hotel. Panelists discussed how Greater LA is poised to become the next “mega-cluster” with an abundance of resources, concentration of higher education institutions and nearly $70 billion in economic output. With the region being one of the most diverse in the world, it is uniquely positioned to support clinical trials and helps address the needs of the most vulnerable. Among the policy presentations were a panel who discussed our work with the City of Pasadena, Senior Director of Economic Policy for Mayor Karen Bass Max Reyes and Supervisor Kathryn Barger’s Health Deputy Anders Corey. The forum was followed by our annual Core by Biocom California Open House and Supplier Showcase.

HR Conference for Life Science Now Statewide

Returning this September, our HR Conference for Life Science is a strategic, two-day forum designed to connect HR communities across California, providing valuable insights into the critical issues impacting the industry. We invite HR professionals at life science companies of all sizes to join us September 24–25 in South San Francisco for meaningful networking opportunities and insightful sessions. HR leaders will gain valuable insights from experts through enlightening panel discussions and informative presentations, equipping them with the tools and knowledge to develop a future-ready workforce. Take advantage of early-bird rates and save up to 15% when registering by July 31.

Join Us in Accelerating Diversity, Equity and Inclusion 

As we continue to amplify diverse voices across the life science industry and facilitate important discussions on effective ways to create an inclusive workforce, we invite our members and partners to sign the Biocom California DEI Pledge. By doing so, you commit to fostering inclusion, breaking down barriers and promoting equity. Now more than ever, it’s vital our industry comes together to advocate for a more just and inclusive society, ensuring that equity and equality are at the forefront of all our efforts.

Policy Perspective

Update on the IRA’s Drug Price ‘Negotiation’ Program

On July 11, Biocom California members heard firsthand from Hogan Lovells’ Global Health Regulatory Counsel, Sam Marshall, about the proposed policy changes for the next round of drug price “negotiations” outlined in the Center for Medicare and Medicaid Services’ Medicare Drug Price Negotiation Program draft guidance. A recording of the webinar is available online and Biocom California submitted comments responding to the draft guidance earlier this month.

GO-Biz Now Accepting Applications for $215M in Tax Credits

The California Competes Tax Credit (CCTC) is an income tax credit available to businesses that want to grow in California. Biocom California was a key partner in creating this program and many life science companies have been successful in receiving a tax credit. Starting July 22, applications can be submitted online and are due August 12 at 11:59 p.m. PDT. Application assistance, webinars and additional resources are available on the CCTC website.

Blueprint San Diego Passes City Council

On July 23, San Diego City Council unanimously passed Blueprint San Diego, the city-initiated update to its general plan, which was last updated in 2008. Biocom California has been supportive of the update given its policy language allowing for additional housing near transit and mixed-use developments that include lab space. However, we became aware during the council meeting that language had been introduced the evening before the meeting related to building electrification. We made it clear during our comments that while we support the plan, any policy changes related to building mandates need further study and stakeholder engagement. This policy will inform City Council’s vote on the UC Plan Update on July 30.

Bay Area Cities Finalize Business Tax Measures for November Ballot

Redwood City Council finalized language for a Business License Tax ballot initiative to be on the November ballot. The measure includes a fee per employee and a maximum cap of $250,000 (reduced from the original proposal of $500,000) that will be phased in over two years, beginning in 2025. Biocom California was actively engaged and advocating for our members with city staff and community partners. Similarly, South San Francisco City Council voted to approve ballot language for voters to decide whether to reform their Business License Tax. They moved forward with an increase in fee per employee and no maximum cap.

Featured Premium Members