A Year of Growth and Innovation: iBIO Leadership Reflects on 2024 Achievements

A Year of Growth and Innovation: iBIO Leadership Reflects on 2024 Achievements

by John Conrad| Dec 18, 2024| iBIO News

As Illinois' life sciences industry continues its remarkable growth trajectory, iBIO President and CEO John Conrad and iBIO Board Chair Ken Johnson, Senior Vice President of Global Development and Medical Affairs at Xeris Pharmaceuticals, sat down to discuss the community's achievements in 2024 and their shared vision for the future. Their conversation highlights both the impressive economic gains and the expanding programs that are fostering the next generation of life sciences innovation.

John Conrad: Ken, the recent BIO/TEConomy report validates what we've been seeing on the ground this year. The growth numbers are remarkable.

Ken Johnson: They really are, John. Seeing 7.5% job growth since 2019 - twenty times the rate of Illinois' overall private sector - shows our strategy is working. When you look at 93,402 workers earning an average of $153,000 annually, it's clear we're creating high-value careers and driving innovation. What's particularly significant is how this growth aligns with Governor Pritzker's five-year economic plan, which named the life sciences industry as one of the key economic pillars. This recognition at the state level, combined with our industry's impressive performance, validates the investments and support we're seeing in our ecosystem.

But we know we have work to do. We're also seeing other states and innovation hubs growing faster than Illinois, and they're adding more jobs per investment dollar than our state. We need to take a hard look at what we need to do to ensure we're translating innovation into jobs. Having great research and breakthrough discoveries is essential, but we need to be more effective at converting that innovation into economic growth and employment opportunities right here in Illinois.

John: That growth creates such a strong foundation for our advocacy work. Our success in Springfield this year - defeating both the PDAB and 340B bills - was crucial for protecting this momentum. It took real collaboration from our membership to achieve those wins.

Ken: Absolutely. Those legislative victories help companies like Xeris Pharmaceuticals thrive. Case in point, our company's inclusion on the Deloitte 2024 Fast 500 list demonstrates what's possible in our ecosystem with the right environment for investment and innovation.

John: It's been amazing to see our educational programs grow alongside our advocacy work. The STEMgirls Camp and STEMkits program have really exceeded our expectations this year. I was particularly moved when visiting one of the schools using equipment from our new LabShare program.

Ken: Those programs are creating real impact. Reaching over 15,000 students through STEMkits alone is incredible. In addition, the iBIO annual BIOGeneius competition, where I have had the opportunity to judge, showcases high school students' original biotech research and the sophistication that I have seen in their work gives me great confidence in the future of our industry. And speaking of the future, the new Timothy P. Walbert Entrepreneurship Award has special meaning for me.

John: That's right - you worked with Tim at Horizon, didn't you?

Ken: Yes, and I saw firsthand what Tim and his team built here in Illinois. They grew from a startup to a global biopharmaceutical company while maintaining their commitment to patients and our community. The leadership and innovation Tim fostered at Horizon was remarkable, and this award is a perfect continuation of that legacy. Recognizing Rheoxtech as our first recipient this year was particularly meaningful because they represent the innovations we're trying to cultivate in Illinois.

John: The award program really complements our Business Solutions program. I'm proud that we helped members save $9.7 million this year on essential supplies and services. That's real money they can reinvest in innovation.

Ken: The value proposition for membership just keeps getting stronger. And speaking of membership, now is really the perfect time for companies to renew, especially with everything we have planned for 2025.

John: Ken, at our end-of-year board meeting last week, we shared some ambitious plans for 2025. As Board Chair, what initiatives are you most excited about?

Ken: One thing I'm looking forward to is our new bi-annual community intelligence reports and programs. These will provide invaluable insights into our ecosystem's growth and help companies make more informed strategic decisions. We're also developing some exciting new marquee community-wide programs that will really showcase the strength and vitality of our life sciences ecosystem in Illinois.

2025 is also going to be a pivotal year for engagement in both Springfield and Washington, DC. There are more opportunities for companies to have their voices heard on critical issues affecting our industry, and we're building programs to help facilitate that engagement. It's crucial that our community remains actively involved in shaping policies that impact innovation and patient access

While we're still finalizing some details, the new resources and programs we're developing are based directly on member feedback. We're focusing on creating additional opportunities for collaboration and providing enhanced services that directly address our members' needs. Given the momentum we're seeing in our community, particularly with the economic metrics from the TEConomy report, 2025 is shaping up to be a transformative year.

John: I couldn't agree more. The combination of our advocacy successes, educational initiatives, and member support programs has created a robust ecosystem for life sciences innovation in Illinois. For companies considering their membership renewal, there's never been a better time to be part of iBIO

Ken: And with end-of-year budgets closing soon, renewing now through the iBIO website ensures uninterrupted access to all these benefits as we head into what promises to be an exciting 2025. This past year we have seen iBIO's membership grow to over 300 member companies. From startups to global pharmaceutical and medtech companies, iBIO is expanding to support its members and ensure they have the right business climate to grow and innovate.

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To renew your iBIO membership or learn more about joining our community, visit our renewal website or contact our membership team today.