BOSTON--(BUSINESS WIRE)--

The Biotechnology Industry Organization today hosted two former Secretaries of the U.S. Treasury, Robert E. Rubin and Henry M. Paulson, Jr., during a luncheon keynote session where they discussed the current state and future prospects of the global economy.

The event held at the Boston Convention and Exhibition Center was a part of the 2012 BIO International Convention the worlds largest biotechnology event, which is expected to attract more than 15,500 attendees from 48 states and 65 countries. BIO President & CEO Jim Greenwood moderated the discussion, tackling vital issues such as the present global economic trials facing the European sovereign debt crisis, the need to balance austerity and growth, and how such challenges and public policy reactions will affect biotechnology innovation and investment in the coming years.

Global economic developments impact all facets of the biotechnology sector, from startups seeking the next funding round to the largest multinational planning its growth strategy for the years to come. Small- and medium-sized biotech companies also continue to face challenges in accessing the necessary capital required to bring their innovative cures, breakthrough medicines, cleaner fuels and more efficient and environmentally friendly agriculture technologies to market.

About BIO

BIO represents more than 1,100 biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the worlds largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling innovations transforming our world. Subscribe to BIOtechNOW.

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The State of the Global Economy Takes Center Stage During 2012 BIO International Convention Keynote Address