The Federation of Asian Biotech Associations (FABA) in collaboration with University of Hyderabad, Institute of Eminence and Science Gurus successfully concluded its Innovation Summit 2024, a landmark series of events that brought together global experts, innovators, and investors in the life sciences sector. The summit, held from 3rd to 18th August 2024, comprised three major components: the Drug Discovery & Development Workshop, the Whale Tank startup pitch event, and the Life Sciences Innovation Cluster Meet.
Drug Discovery & Development Workshop: Initiating the summit was the highly anticipated Drug Discovery & Development Workshop, held online from 3rd to 16th August. The event drew participation from over 150 attendees spanning seven countries and featured more than 40 luminaries from both academic and industrial spheres. Prof. B.J. Rao, Vice Chancellor of the University of Hyderabad, inaugurated the session, emphasizing the vital importance of interdisciplinary efforts in spearheading drug discovery innovations.
This workshop delved deep into the lifecycle of drug development, from discovery sciences through to clinical and regulatory affairs. Noteworthy sessions included hands-on experiences in Computational Structure-based Drug Design, facilitated by a partnership with Schrödinger, and a culminating panel discussion titled “AI in Novel Drug Discovery – Game Changer or Hype?” This panel, moderated by Dr. Uday Saxena, Founder, IEFR and Executive Secretary, FABA, brought together a diverse group of experts debating AI’s transformative potential in pharmaceuticals.
Whale Tank Startup Pitch Event
Subsequently, the summit hosted the Whale Tank event on 17th August at School of Life Sciences, University of Hyderabad, which emerged as a seminal platform for 20 biotech startups. These burgeoning enterprises presented their innovative ideas to a distinguished panel of venture capitalists and seasoned industry experts. The event commenced with rousing inaugural speeches by Dr. Jitendra Kumar from BIRAC and Prof. Yogeswara Rao from ASPIRE BIONEST, who both highlighted the crucial role of nurturing innovation within the biotech ecosystem. The Whale Tank not only provided invaluable networking opportunities but also set a new benchmark for startup pitch events in biotechnology.
Life Sciences Innovation Cluster Meet
The final leg of the summit, the Life Sciences Innovation Cluster Meet, convened on 18th August 2024. This event brought together preeminent figures from academia, industry, and government to chart future courses in life sciences innovation. The meet was graced by a diverse panel of international and local stakeholders including dignitaries from the top industries, academies and others from the U.S. Department of State, the Consulate General of the Republic of Indonesia, the Government of Telangana, and the British Deputy Head of Mission & Head of Trade & Investment from the UK.
The discussions were centered around three pivotal themes: Global Collaborations, Industry-Academia Synergies, and the Role of Ecosystem Enablers in fostering innovation. These roundtables underscored the strategic importance of integrated efforts across various sectors to enhance the life sciences landscape globally.
Innovations Recognized at the FABA Innovation Summit 2024
The FABA Innovation Summit 2024 not only facilitated discussions and networking but also celebrated remarkable innovations in the life sciences through prestigious awards. Here are the contributions that were honored:
These award recipients exemplify the pinnacle of innovation and dedication in the life sciences sector, reflecting FABA’s commitment to nurturing groundbreaking advancements that promise to enhance global health outcomes.
Prof. Pallu Reddanna, Executive President of FABA, remarked, “The FABA Innovation Summit 2024 has set a new benchmark for life sciences events globally. By combining in-depth educational workshops, startup pitching opportunities, and high-level discussions on global collaboration, we’ve created a unique platform that addresses the entire spectrum of needs in the life sciences ecosystem.”
The FABA Innovation Summit 2024 has established itself as a cornerstone event in the global life sciences calendar. Its comprehensive approach – combining education, entrepreneurship, and collaboration – provides a model for fostering innovation and growth in the sector.
The success of this year’s summit has led to plans for making it an annual event, with organizers committed to expanding its scope and impact in future iterations.
