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Biotechnology Industry Takes Action to Diversify Leadership

April 16, 2019 Off By BusinessWire

BIO Launches Nationwide Campaign to Create Change

WASHINGTON–(BUSINESS WIRE)–The Biotechnology
Innovation Organization (BIO) announced today the “Right
Mix Matters” campaign to increase diversity and inclusion in the
biotech industry. Following on its previously announced goals to
increase gender, racial, ethnic and LGBTQ representation on biotech
company boards, in C-suites and in functional leadership positions, BIO
is providing specific tools to accelerate diversity and thereby advance
an even more globally competitive industry.

As the largest trade association representing the full range of biotech
companies, BIO is launching two new solutions and tangible resources:

The new BIO
Boardlist is an online portal of curated talent that connects
highly qualified diverse leaders with opportunities to serve on
private and public company boards.
The BIO Diversity
& Inclusion (D&I) Toolkit is a set of practical tools for
developing programs, procedures and best practices to build a diverse
workforce.

“Our industry is stronger than ever before and there is a collective
sense of excitement about the future of biotechnology,” said Helen
Torley, CEO of Halozyme and Chair of BIO’s board-level Workforce
Development, Diversity, and Inclusion Committee. “Continued progress
requires an unprecedented level of innovation and problem solving—and
this is best achieved by tapping into multiple and diverse perspectives
and experiences. The new tools address specific barriers biotech leaders
tell us they face today in building diverse and inclusive teams and
boards and will, I believe, lead to improved development and increased
visibility of talented, diverse leaders.”

According to the 2018 Why Diversity Matters report
conducted by McKinsey & Company, companies in the top 25% for gender
diversity and top 35% for racial diversity are more likely to have
higher financial returns than less diverse companies.

The BIO Boardlist database provides detailed profiles of talented,
board-eligible, diverse individuals with extensive experience in the
biotech industry. CEOs and/or board members can nominate board-ready
diverse candidates for the BIO Boardlist. Once vetted and approved,
candidates become part of the BIO Boardlist and can be discovered by
CEOs and board members through a search feature.

All leaders, employees and human resources departments of biotech
companies around the country will have access to proven tools through
the D&I Toolkit which can assist with identifying and developing diverse
talent. This includes the top resources from successful programs from
member companies.

“BIO members know that diverse teams are critical to the long-term
success and innovation of any organization,” said Jim Greenwood,
president and CEO of BIO. “Our members are looking for tools and
resources to ensure diversity, from the ground floor to the C-suite and
board, and we’re happy to unite biotechnology under one vision. Our
tools are designed to supplement competitive teams interested in
remaining at the forefront of our industry.”

The Right Mix Matters campaign is an initiative of BIO’s Workforce
Development, Diversity, & Inclusion Committee. Chaired by Helen Torley,
the committee is headed at the BIO staff level by Joanne Duncan,
President of BIO’s Membership and Business Operations Division. Learn
about the campaign at RightMixMatters.org.

About BIO

BIO is the world’s largest trade association representing 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 world’s largest gathering of the
biotechnology industry, along with industry-leading investor and
partnering meetings held around the world. BIOtechNOW is
BIO’s blog chronicling “innovations transforming our world” and the BIO
Newsletter is the organization’s bi-weekly email newsletter. Subscribe
to the BIO Newsletter.

Upcoming BIO Events