DECEMBER 20249a recovery in 2024. Recently, the biotech sector has encountered a complicated financing environment, particularly because VC investments are slowing down. Investors are becoming more selective and focusing only on few higher-quality opportunities, however, such activities have not lost any steam for VC fundraising. Secondly, the industry faced the impending threat of stricter price regulations on drugs through the Inflation Reduction Act that posed obstacles to getting reimbursement for new innovations. However, the industries' intrinsic financial strength, growth through innovation, and strong pipeline assets advancing to the clinical phase helped it overcome these challenges. The biotech sector has also experienced an upsurge in shareholder activism, M&A activities, and improving IPO market, all of which indicate the potential pickup of 2024. This uptick will be supported by higher investments, innovative products, and refreshed market dynamics.Biotechnology's Future at Bengaluru Tech Sum-mit 2024At the recent Bengaluru Tech Summit 2024, siliconindia took center stage as a media partner, witnessing the grand opening. Since its inception, the Department of Electronics, IT, and Biotechnology, Government of Karnataka has sowed the seeds that have correctly positioned Bengaluru on the global innovation map.During the summit, Dr. Kiran Mazumdar-Shaw, Executive Chairperson and Founder - Biocon Limited Chairperson - Vision Group on Biotechnology- Government of Karnataka shared her thoughts on biotechnology."I'm very excited about the bioethics policy, because bio-manufacturing is going to provide answers to many challenges that we face today. Whether it is energy, food, feed or biomaterials, we have a lot to gain from bio-manufacturing as today, between synthetic biology and cell-based fermentation through microbial or mammalian cells, we are able to look at disease, nutrition, and sustainability in a very different way. Preeminently, the bioethics policy is actually focused on these three Es - Environment, Economy, and Employment. I think Karnataka needs to focus on using technology-driven approaches to biology and bio-manufacturing, and
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