CHICAGO--(BUSINESS WIRE)--The Illinois Biotechnology Industry Organization (iBIO) today announced that it has changed its name to the Illinois Biotechnology Innovation Organization to better reflect the role its member companies play in developing and advancing new medicines, medical devices and agricultural foods, plants, fuels and chemicals. The use of the iBIO logo will remain the same.
“iBIO member companies are on the cutting edge of new innovations to treat and cure diseases through medications and devices and to develop more sustainable agricultural by-products,” said Timothy P. Walbert, chairman of the iBIO board of directors and chairman, president and chief executive officer, Horizon Pharma plc. “This name better reflects the important role our companies collectively play in the local, domestic and international life sciences community.”
Founded in 2002, iBIO’s mission is to make Illinois and the Midwest a leading life sciences community and a destination for companies in its supported sectors as well as to provide growth opportunities for early stage startup companies in the life sciences, agricultural sciences and medical technology.
“The new name is designed to demonstrate our expanded presence within the medical technology sector coupled with our existing presence in the pharmaceutical and agricultural life sciences community,” said Warren Ribley, president and CEO of iBIO and the iBIO Institute.
iBIO is the state affiliate of two national associations - the Biotechnology Innovation Organization and the Advanced Medical Technology Association (AdvaMed). As such, iBIO represents the medical device and biotechnology companies throughout Illinois advocating for public policy that promotes innovation leading to better health outcomes for patients.
iBIO’s members from the agricultural sciences, biopharma and medical technology communities directly employ more than 80,000 Illinois residents and pay their employees 91 percent more than the Illinois private sector average. The community contributes more than $98 billion in total economic output for Illinois.
About the Illinois Biotechnology Innovation Organization
iBIO’s mission is to make Illinois and the surrounding Midwest one of the world’s top life sciences centers: a great place to do business and a great place to grow technology ventures.
iBIO, working on its own and through valued partners
- Promotes sound public policy at the local, state and federal levels;
- Improves our region’s ability to create, attract and retain businesses
- Orchestrates industry involvement to help solve America’s math and science education crisis
- Builds community by providing opportunities to connect and engage with the industry
We thereby contribute to the well-being of people worldwide while creating new jobs, attracting firms to the region and generating prosperity.
iBIO’s Leadership Sponsors are AbbVie, Astellas US, Horizon Pharma, Shire and Takeda Pharmaceuticals North America.