Biotechnology Innovation Organization
The Biotechnology Innovation Organization (BIO) is the largest trade organization in the world that represents the biotechnology industry. On January 4, 2016 the Biotechnology Industry Organization changed its name to be the Biotechnology Innovation Organization to better reflect member organizations' breakthroughs.
BIO holds a trade meeting each year in the United States, which are essential for the business development and partnering activities that are required in the biotechnology sector, in which it is expensive to develop products, timelines to develop products are long, and regulatory risks are high. In 2013 the conference was held in Chicago and was attended by 13,594 delegates from 47 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands and 62 countries.
In 2013 it spent $1.98 million on lobbying in the United States. Issues included the amending the Internal Revenue Code to provide an exception from the passive loss rules for investments in high-technology research small business pass-through entities, to include vaccines against seasonal influenza within the definition of taxable vaccines, and to extend, expand, and improve the qualifying therapeutic discovery project program that first became law in 2010.
Examples of its public lobbying efforts, include support for development of biofuels such as those produced from algae, genetically modified crops, strong intellectual property rights, and for a more efficient and predictable regulatory process for new food and drug products.
In June 2013 BIO partnered with the Coalition of Small Business Innovators to lobby the U.S. government to modernize the U.S. tax code "to recognize and promote small business innovation as fundamental to the long-term growth of the U.S. economy".
It is a member of The Alliance to Feed the Future, an umbrella network, the mission of which is to "raise awareness and improve understanding of the benefits & necessity of modern food production and technology in order to meet global demand".
BIOs members include companies that make Pharmaceutical drugs, biofuels, industrial enzymes, and genetically modified crops. BIO was founded 1993 in Washington, D.C. and Carl B. Feldbaum was the president from BIO's founding until he retired in 2004, and was succeeded by James C. Greenwood. As of 2016, it represents 1,100 biotech companies in all 50 U.S. states, which employ 1.61 million Americans and support an additional 3.4 million jobs.
Biotechnology Heritage Award
The Biotechnology Heritage Award, presented annually at the Biotechnology Innovation Organization (BIO) Annual International Convention by the Biotechnology Innovation Organization (BIO) and the Chemical Heritage Foundation (CHF), recognizes individuals who have made significant contributions to the development of biotechnology through discovery, innovation, and public understanding.
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