{"id":458875,"date":"2021-03-16T10:46:38","date_gmt":"2021-03-16T14:46:38","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=458875"},"modified":"2021-03-16T10:46:38","modified_gmt":"2021-03-16T14:46:38","slug":"alliance-for-regenerative-medicine-annual-report-highlights-record-sector-growth-and-resilience-in-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/alliance-for-regenerative-medicine-annual-report-highlights-record-sector-growth-and-resilience-in-2020\/","title":{"rendered":"Alliance for Regenerative Medicine Annual Report Highlights Record Sector Growth and Resilience in 2020"},"content":{"rendered":"
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\n Sector financing reached $19.9B in 2020, doubling from the previous year; 2021 is likely to be a record year for the number of regulatory decisions on new regenerative medicine products<\/strong>\n <\/p>\n

Washington, DC, March 16, 2021 (GLOBE NEWSWIRE) — \u00a0via NewMediaWire<\/u><\/a>–The regenerative medicine and advanced therapies sector raised a record $19.9B in funding in 2020, fueling the broader biotech sector and driving a rapidly advancing pipeline of potentially transformative therapies, according to the Alliance for Regenerative Medicine\u2019s (ARM)\u00a02020 Annual Report<\/u>\u00a0released today.\u00a0<\/p>\n

Two new therapies received approval in 2020: Orchard Therapeutics\u2019 gene therapy Libmeldy, by the European Medicines Agency (EMA), and Kite\u2019s Tecartus chimeric antigen receptor T-cell (CAR-T) therapy, by the Food & Drug Administration (FDA). By the end of 2020, there were 152 ongoing Phase 3 trials worldwide in cell, gene, and tissue-based therapies. Regulatory decisions are expected on a record eight new regenerative medicine products \u2013 and on a total of ten products across at least four geographies \u2013\u00a0in 2021, including Breyanzi, a Bristol Myers Squibb CAR-T therapy for relapsed or refractory large B-cell lymphoma that already received FDA approval in February.<\/p>\n

\u201cWhen COVID-19 struck, we joined the rest of the world in not knowing what 2020 would bring,\u201d said Janet Lambert, CEO of ARM. \u201cInstead, not even a global pandemic could derail the scientific advancements, investor appetite, and maturing pipeline that made headlines for the regenerative medicine sector in 2020. For a once aspirational sector, the future is now.\u201d<\/p>\n

It was a significant year of growth for ARM as well. The global voice of the sector grew by 80 members, reaching a total global membership of more than 380 organizations. To serve this growing membership, ARM invested in five new full-time hires in 2020 and for the first time integrated its policy, advocacy, and communications activities under the umbrella of public affairs. The organization plans to expand its focus on public affairs in 2021 with new advocacy hires in Europe, at the U.S. federal level, and for U.S. states.\u00a0<\/p>\n

ARM and the sector also achieved notable policy milestones. Sector advocacy efforts led the Centers for Medicare & Medicaid Services (CMS) to create a diagnosis related group (DRG) for CAR-T therapies that will ensure proper reimbursement for providers. In December, CMS also finalized a rule removing barriers to innovative payment models in state Medicaid programs, a significant area of focus for ARM and its members. And the EU Pharmaceutical Strategy, a blueprint for a years-long legislative push, recognized cell and gene therapies as \u201cmilestones of major progress\u201d in healthcare.<\/p>\n

ARM and its members also made a commitment to improving racial equality in the sector. ARM\u2019s Action for Equality Task Force established the GROW RegenMed Internship Program, which will provide paid opportunities for Black students at ARM member organizations. At least 16 ARM member organizations \u2013\u00a0as well as ARM itself \u2013\u00a0will host GROW interns in Summer 2021.<\/p>\n

Highlights from ARM\u2019s annual report and full-year 2020 data include:<\/p>\n