Neurotech organization to advance brain, nervous system therapies

Companies form a new trade association called the Neurotechnology Industry Organization (NIO).

SAN FRANCISCO—More than 20 leading pharmaceutical, medi­cal device and diagnostic compa­nies, along with major academic brain research centers and patient advocacy groups, have joined together to form a new trade asso­ciation called the Neurotechnology Industry Organization (NIO). Based in San Francisco, NIO is a non-profit group that will aim to accelerate the development of treatments and cures for brain and nervous system diseases.
 
"Despite the clear need and significant market opportunity, neurotechnology companies face a host of issues that stifle innova­tion, growth and rapid delivery of effective therapies. NIO will provide a collective voice for com­mercial neuroscience organiza­tions to address these issues," says Zack Lynch, founder and execu­tive director of the NIO. "We will kick off our first year with a global awareness campaign highlight­ing the industry's progress and a public policy tour for members to interact with government offi­cials."
 
The $110 billion neurotechnol­ogy industry includes pharma­ceuticals, biologics, cell-based therapeutics and medical devices, as well as diagnostic and surgi­cal equipment for critical unmet needs, including: Alzheimer's, addiction, anxiety, depression, epilepsy, hearing loss, insomnia, multiple sclerosis, obesity, pain, Parkinson's, schizophrenia, stroke and other brain-related illnesses.
 
More than 1.5 billion people worldwide and nearly 100 million Americans suffer from a brain or nervous system illness. In addi­tion to the human suffering aspect, the annual economic burden has reportedly reached over $1 tril­lion worldwide with $300 billion a year in the United States alone. This burden is accelerating as the population ages and increases in size—and this in turn is creating unprecedented demand for treat­ments that delay, prevent and cure chronic neurological and psychiat­ric diseases.
 
The 500 companies involved in commercial neuroscience face fun­damentally different investment requirements, research and devel­opment challenges, and regulatory milestones than other life science and healthcare companies, accord­ing to the NIO, and the organiza­tion was thus created to help gov­ernments, patients and the public understand the unique needs of the neurotech industry.
 
"We are delighted to be a found­ing member of NIO," says Dr. J. Donald deBethizy, president and CEO of Winston-Salem, N.C.-based Targacept, Inc. "We are pleased that this advocacy group has been formed to address the important issues of our industry."
 
Founding member organizations span a broad spectrum of drug, device and diagnostic companies from across the world, along with a number of neuroscience research centers, patient advocacy groups, research foundations and venture capital firms.


Subscribe to Newsletter
Subscribe to our eNewsletters

Stay connected with all of the latest from Drug Discovery News.

February 2023 Front Cover

Latest Issue  

• Volume 19 • Issue 2 • February 2023

February 2023

February 2023 Issue