Guiding Principles

Our life sciences community and policy-makers have a shared mission related to seeking improved healthcare outcomes. We work in partnership with all aspects of the healthcare system, including policy-makers, to:

  • Maintain robust access to innovation to improve health.
  • Improve ability to identify technologies that yield the greatest improvements in health most efficiently.
  • Improve evidence about the comparative effectives of technologies
  • Develop more and better evidence addressing questions that are relevant to payers and policy-makers that aid in decision-making.
  • Address long-term fiscal constraints of public and private healthcare financing.

Translating innovation into realization requires a strong ecosystem that supports research investments, technology commercialization, capital, business climate, education and workforce and public understanding.

Research Investments
Funding basic research at universities and non-profit research institutions propels life sciences innovation and development. Such funding is critical to the development of processes, protocols and products to address unmet needs in medicine, nutrition and energy. 

Technology Commercialization
The life sciences development cycle is long. Appropriate policies and funding to support technology transfer and commercialization must bridge the gap where innovations often perish.

Capital Formation
Access to capital is a critically important factor required for commercial innovation and new company formation. Policies that spur capital formation or ease access to capital for life sciences entrepreneurs will have direct impact on the prospects for the life sciences in Washington.

Business Climate

  • Price controls, direct or indirect, powerfully discourage investment in innovation.
  • Intellectual property (IP) rights are the foundation of the life sciences industry. IP must be appropriately protected to ensure ongoing investments in the industry. Any changes in patent law must provide necessary IP protection.
  • When science and its application are key aspects of public policy, scientific peer review should be the fundamental principal used for decision-making.
  • Competition is stiff and Washington’s business environment is unique. The business climate created by public policy should encourage economic development in Washington.

Education / Workforce / Public Understanding

  • Life science companies require highly educated scientists, laboratory technicians, manufacturing workers, regulatory and quality-assurance experts and other employees. Such positions provide well-paying jobs that require appropriate education. 
  • Washington life sciences employers must be able to recruit workers. Support for K–12 education, which prepares students for college and work readiness, is crucial both for preparing students for the jobs of tomorrow and for companies seeking to recruit workers now. The higher-education system must have capacity for students who complete high school ready for college.
  • WBBA and its members have a responsibility to contribute to the public dialogue on the benefits and costs of new diagnostics, medicines and therapies being discovered and developed.


© 2012 Washington Biotechnology & Biomedical Association

        
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