Welcome to the Summer edition of the Virginia Bio CEO Letter. I want to begin by thanking each of you for your continued support of our Association and your steadfast commitment to our innovation economy. Even in these times marked by federal budget constraints and policies that challenge innovation, your daily work “on the front lines” and your support of advocacy help ensure science continues to move forward—for the good of Virginia, our nation and the world.
There is much to celebrate in Virginia’s life science ecosystem. We are growing, innovating, and gaining well-earned recognition on the national stage. As we head into the second half of the year, our Commonwealth is proving again that it is a leader in biotechnology research, manufacturing, and commercialization. I am excited to tell you here of just some of the most recent exciting life science news here in Virginia!
Virginia’s National Biomanufacturing Leadership. Earlier this month, Virginia’s biotech sector received a massive vote of confidence from Virginia Bio member AstraZeneca when it announced a historic $4 billion investment to build its largest-ever manufacturing facility right here in the Commonwealth (exact location to be announced). This project—part of a broader $50 billion AZ commitment to expand in the U.S.—is slated to create hundreds of high-quality jobs and further cement Virginia as a global hub for life sciences manufacturing.
And that’s not all of the recent Virginia growth news. Several other Virginia Bio members across the state are making major strides:
- Phlow Corp. this month closed a $37 million Series C funding round to accelerate its essential medicines development and domestic manufacturing capabilities.
- Luna Labs last week held a ribbon-cutting event with the Mayor of Charlottesville to celebrate its 4,000 sq. ft. facility expansion, taking it’s Charlottesville footprint to 50,000 sq ft. and continuing its growth in health and defense technologies.
- Afton Scientific continues with the $200 million expansion of its manufacturing facility in Albemarle County, supporting even more sterile filling operations.
Other investments into our ecosystem include Adial Pharmaceuticals’ $2.75 million capital markets raise and CEL-SCI Corporation’s $5.7 million capital markets raise. We are also encouraged by Evizia’s $2.2 million NIH grant supporting development of their advanced DNA sequencing microscope, and the four recipients of the Virginia Catalyst’s March $3.2 million grant round. Congrats to all of our companies making great strides in their pursuit to bring life-saving and life-improving technologies to patients.
BIO International & BOTAR Spotlight on Virginia. June’s 2025 BIO International Convention in Boston was an exceptional gathering of global biotech leaders—and Virginia Bio was proud to be there to showcase our state’s innovation, talent, and momentum! Thanks to our partners at the Virginia Economic Development Partnership, Virginia once again had a pavilion on the convention floor, utilized by our members for meetings and networking. We were also thrilled to host a Virginia breakfast event during the Convention, bringing together members, investors and supporters in a well-attended early morning gathering. Roanoke’s own Tiny Cargo presented its milk exosome drug delivery technology at the Startup Showcase, and Fairfax’s Jeeva Clinical Trials presented its AI-powered platform at the Bullpen’s pitch event. We look forward to seeing you in San Diego for the 2026 Convention!
In July, we were honored to welcome BIO CEO John Crowley and several senior BIO leaders leadership to Virginia on their latest stop on their BIO on the American Road (BOTAR) tour. John’s inspiring story and insights on the future of biotech innovation, national policy priorities, and the power of regional ecosystems like ours made the evening truly memorable. John visited Phlow corporation, had lunch with several Richmond-area patient advocates, and held a listening session with several Virginia biotechnology companies and ecosystem leaders. The day concluded with a Greater Richmond Biohub Biotech & Beer which brought together a record-breaking crowd of life sciences professionals, entrepreneurs, researchers, and partners from across the Richmond-Petersburg region. What a fantastic way to celebrate and showcase our ecosystem!
Convenings and Events! Thank you to all who joined my June Virtual Coffee Chat. We were happy to have our government relations team from Hancock Daniel & Johnson with us to lead a conversation on current state and federal policy issues, and to update us on the upcoming November Virginia election. I hope you continue to join the conversation and that you will connect with us at the next Virtual Coffee Chat on September 9! Register here.
Thanks to Virginia Bio Board members John Hart and Gary Warren for convening and invigorating our Medical Device Interest Group! The 25 VA Bio member companies meet quarterly, including the most recent July gathering where we heard from the Medical Device Manufacturers Association’s (MDMA) Clayton Hall with an update on U.S. trade and tariff policies. Our next MDIG meeting is on October 15th. If you are interested in joining the MDIG conversation, please contact Frank Wilton at wilton.frank@vabio.org.
Mark your calendars for these upcoming events:
- Women Building Bio – On September 17, we are excited to once bring our 10thAnnual Women Building Bio summit to the Fralin Biomedical Research Institute in Roanoke! We celebrate our 10th year with the theme Shaping Science, Shaping Futures. With timely discussions regarding investing in women-focused technology and leadership, student posters and a pitch competition, this event is a must-attend! Please join us as we celebrate, connect, and advance women in bioscience. Click here for registration and the Hotel Roanoke room block.
- Biohealth Capital Region Forum – Marking 11 years of Virginia partnership, this year’s Biohealth Capital Region Forum and Investor Conference will once again showcase the nation’s 3rd strongest biohealth cluster (VA/MD/DC) as ranked by Genetic Engineering & Biotechnology News. Join us in Rockville, MD September 23-25 for discussions on AI and quantum, federal partnerships, investment trends and other salient topics. There is an Investor Conference featuring investor partnering and a cash prize pitch competition. And it is *FREE* to attend! Register here.
- 2025 Accelerate Investor Conference – Showcase your company, meet investors, and build partnerships at the 2025 Accelerate Investor Conference. Featuring biotechnology as well as multiple other technology spaces, come here experts in business and technology, and register your company to compete in the pitch competition. We will have a special treat this year with a Keynote provided by our very own Jeff Conroy, Managing Director of Bayeux Ventures and former CEO of Embody! Register here.
Advocacy Update. As many of you know, the Congressional reauthorization of the federal Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs is due before September 30th.
For more than four decades, the SBIR/STTR programs, often called “America’s Seed Fund,” have served as one of the most effective mechanisms for transforming cutting-edge research into commercially viable products and services. By requiring federal agencies with large research and development (R&D) budgets to set aside a small percentage for small businesses, these programs fuel innovation, create high-paying jobs, and address the nation’s most pressing challenges in defense, healthcare, energy, and more. VA Bio is working with our Congressional delegation to ensure these important programs are reauthorized.
We Look Forward to Seeing You this Fall! With all the momentum across the Commonwealth, this is a pivotal time for life sciences in Virginia. I encourage you to stay engaged and participate in the above events and all events happening in the BioHubs across the Commonwealth. Visit the Virginia Bio events page for more. Keep up with all of the visits, events and networking that you and Virginia Bio are engaged in on our LinkedIn page. And as always, we welcome your ideas, comments, and suggestions. Thank you for being part of this vibrant and growing community!
Onward,
John Newby
Chief Executive Officer
Virginia Biotechnology Association
www.vabio.org