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| Dr. Jim Bianco speaking at Business Leaders' Forum |
Yesterday I attended the
Rainier Club Business Leaders' Luncheon Forum which included
Dr. James Bianco, CEO & Co-Founder of
Cell Therapeutics Inc. as the featured speaker. Business Leaders Forum chairman,
Brendan O'Farrell, introduced Jim to the full room of
Rainier Club members and guests who had come to hear
Jim speak. A few of
Jim's many supporters in the audience included
Sue Bianco,
Ken Hatch,
Mike Kunath,
Lou Bianco,
Kjell Schei,
Dan Eramian,
Ron Elgin,
Michael Hatch, and
Renee Braun.
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| Brendan O'Farrell introduces Jim Bianco |
Jim shared the fascinating and very long journey of what it takes to get a drug approved today. It was interesting to understand that only one in five drugs actually gets approved by the
FDA and that the average time it takes for this to happen is 15-17 years!
Since it takes such a long time, there is a huge cost to bring a new drug to market and many investors are skittish about investing in a company in which their investment will be illiquid for such an extended length of time. However,
Jim suggested the best times for investors to invest in biotech companies is one of these three inflection points:
- When the drug is ready for Phase 3 clinical trials. The likelihood of approval is much higher at this stage than earlier.
- When the drug does actually receive FDA approval.
- When the drug is on the market and beginning to perform with compounded annual sales volume.
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| Listening to Jim's insights in the bio-tech sector. |
It was also fascinating to understand that in this genomic era as bio-engineered targeted drugs are aligned with the patients that actually have the bio-marker indications of the disease that there is a much higher rate of success in treating and/or curing the disease. This allows clinical trials to be much more targeted and show high success rates with fewer people involved.
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| CTI Mission Statement |
Jim ended his remarks by suggesting that most important for the future in this genomic era is for regulatory agencies to re-think the approval hurdles that are currently in place which will help bring these drugs to market more quickly.
My name is Anthony Bianco.I'm James Bianco nephew. His brother (my father) passed when I was 13..tragically my grandfather passed and James told my brother and my self he left a good amount of money for us.now James told us he deserves the money more then we do.this is a man we should let have the title of being a doctor?
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