May 18 2009
At this year's BIO conference in Atlanta, UK scientists and biotech experts will lead debate on how to drive the development of nanotechnology and maximise its potential to speed up drug discovery and create and enhance patient therapies.
Past commentators have predicted that total market for nanotechnology-enabled drug delivery will rise to $26 billion by 2012 from its current size of $3.39 billion – a compound annual growth rate of 37%. After 2012, the market could rise steeply, reaching potentially $220 billion by 2015 for these nano-enabled compounds. Yet recent research amongst pharma companies found only one in six respondents had an explicit nanotech strategy compared to four in six in the electronics and materials sector.
At a debate hosted by Dr Moira Gunn of Biotech Nation, speakers will explore how the biotech and pharma industries can realise the full potential of nanotechnology to ensure successful commercial development of new drugs.
The panel includes Professor Tony Cass, Research Director (Bionanotechnology) at Imperial College London, and Dr Mike Fisher, Business Development Director of Bio Nano Consulting Ltd and Theme Manager for Bionano & Nanomedicine with the UK’s NanoKTN. Both are clear that action needs to be taken to prevent the development of nanotechnology being held back in the same way that advances in biotech were initially resisted by the pharma industry.
Dr Mike Fisher commented: “Nanotechnology offers incredible potential in both the discovery and formulation of new drugs. With the hunt on for new blockbuster drugs it is vital that the industry embraces new techniques, yet at present there is limited focus on nanotech. In the UK there are some exciting initiatives underway to overcome these barriers. A Knowledge Transfer Network for nanotechnology is just one of the ways in which we are helping to support research and speed up development in critical areas such as Tissue Engineering, NanoPharma, Diagnostic and Sensors and Medical Imaging.
“With the world’s major players in biotech meeting this week in Atlanta this is an important opportunity to drive the debate forward and raise awareness of the important commercial benefits that nanotechnology can deliver to this sector.”
The panel will point to trailblazing examples where nanotech has enhanced biotech products, creating innovative pathways to new medical devices, implants, instruments, and drugs and their formulation.
Some of the exciting applications where nanotechnology has the potential to spur major breakthroughs include antibiotics to tackle super-bugs, a growing issue for healthcare providers worldwide. Nanotechnology is also being explored in cancer therapies, where microscopic particles enable more effective delivery of powerful medication with reduced side-effects.
Tony Cass of Imperial College London, added: “Nanotechnology has a particularly important role to play in point of care diagnostics and drug discovery but there are important challenges that must be overcome. Of course, all new technologies create risks. It is important that we understand these in order to manage and minimise them, ensuring that the potential of nanotech can be fully realised within the regulatory framework.”
Other speakers at the debate include Dr Thomas Keller, Director - Biophysical Sensors & Nanomaterials at GlaxoSmithKline R&D, and William Moffitt, CEO of Nanosphere Inc.
Bio Nano Consulting and Imperial College London are amongst some 200 UK organisations that will be attending BIO 2009 in Atlanta, showcasing biotech advances with the support of UK Trade & Investment.