The 2004 Virginia Biotechnology Summit

Venue: Blacksburg

Location: Blacksburg, Virginia, United States

Event Date/Time: Oct 12, 2004 End Date/Time: Oct 13, 2004
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The Virginia Biotechnology Association (VaBIO) is the 200-member statewide non-profit organization that promotes the scientific and economic impact of the life sciences industry in the Commonwealth of Virginia. Nearly 160 biotechnology, pharmaceutical and medical device companies are based in Virginia, mainly clustered around universities in Blacksburg, Charlottesville, Richmond, Norfolk and Northern Virginia. The biotechnology industry accounts for more than $2.5 billion annually to the state's economy.

Biotechnology is a $34 billion industry in the U.S. and is growing at 16% per year. More than 325 million people worldwide have been helped by the more than 155 biotechnology drugs and vaccines approved by the U.S. Food and Drug Administration (FDA). Of the biotech medicines on the market, 70 percent were approved in the last six years alone. Often described as a single industry, biotechnology is a diverse field, encompassing areas such as pharmaceutical research and manufacturing, medical devices, bioinformatics, drug discovery, agribusiness, environmental remediation and biodefense.

Discoveries in biotechnology can significantly enhance our quality of life in many areas, from the food we eat, to the medicines we use, to the environment in which we live. This important research enables Virginians to develop new medicines and foods to improve the lives of our fellow citizens here in the Commonwealth and around the globe.