Industrial Biotechnology Not Just About Biofuels

I've been reviewing some notes from the BIO World Congress I attended last spring, and contemplating what effect this global economic downturn is going to have on the biotechnology industry, specifically biofuels. With the rapid pace of dramatic changes that have taken place over the past 2 months, much of what was said at the conference about the economics of biofuel production can probably be thrown out the window. Oil prices have dropped by nearly 50% since then, bioethanol producers are filing for bankruptcy protection, food prices and the costs of other commodities are being affected while our attitudes and business plans are changing.

There is an important point that I try to emphasize often on this site, and I think some people often forget. This was also emphasized at the end of a presentation by Roger Wyse of Burrill & Company (life science venture capitalists), and I think bears repeating today: Industrial biotechnology is not just about biofuels. There are many MANY more applications for IB that might be far less controversial, and contribute substantially to global sustainability. For this reason, I think many IB companies will prevail through the recession, even if biofuels sit on the back burner for awhile. Wyse said "2008 will be a seminal year for industrial biotechnology…" Perhaps we've been set back by the events of 2008, but this prediction is sure to carry into 2009 – there's much more to be done in IB.

As was so effectively illustrated by Wyse, by showing slides of huge negative headlines and tiny positive ones, the general media, for the most part, seems to enjoy emphasizing the worst downsides to biotechnological development, while ignoring the good that can be achieved. It's up to us, scientists and advocates of biotech, to promote IB products, encourage new developments and positive media while being proactive and addressing the political, economic and bioethical concerns of biotech opponents. There's much more to this industry than pharmaceuticals and biofuels, and often those other, more unexpected discoveries are the most interesting. This is why I have a positive outlook on the future of biotech and I am looking forward, with great anticipation, to seeing what the new year brings!