BIA releases best practices guide for R&D communication ahead of biotech conference
A new guide to help bioscience companies communicate R&D progress clearly and effectively to investors and the public has been released by the UK BioIndustry Association (BIA).
This best practice guide, produced in consultation with the trade associations members and the investment community with support of Consilium Strategic Communications, Instinctif Partners and Simmons & Simmons, has been launched ahead of the world’s largest biotech conference — the 36th annual JP Morgan Healthcare Conference.
The guide lists four best practice principles for both public and private bioscience companies to follow to ensure high-quality communications:
- Be well prepared
- Be consistent
- Be fair, balanced and understandable (clear)
- Be mindful of the impact on members of the public to whom it is personally relevant
These principles are to be followed in addition to the legal and governance rules that companies must adhere to, and have been designed to help bioscience companies also meet sector best practice and to apply their communications to the R&D process in particular.
“The UK bioscience sector is booming. We attract over one-third of all European venture capital funding and have an active public market that is taking an ever-greater interest in the investment opportunities that our sector has to offer,” explained BIA CEO, Steve Bates. “To establish the UK as the third global bioscience cluster we need investors and the public to be well informed and confident about the great science our companies are doing. As the entrepreneurial leaders and investors of the UK sector head across the pond to JP Morgan in San Francisco, we hope this guide helps them communicate the great investment opportunities there are here in Britain.”
“With bioscience companies expected to play an ever more pivotal role in the UK economy, the need for clear and effective communication has never been greater,” stressed Consilium Strategic Communications partner, Dr Chris Gardner. “Distilling complex ideas in high science companies for multiple audiences can be challenging and individual companies will always have their own objectives, but there are some basic approaches which can help them keep their messages clear and simple. The aim of guide is to provide practical advice which companies can draw upon when thinking about their communications.”
“Whilst the general principles of good communications remain the same, with the increased speed of communications, the broad reach of evolving digital platforms and the changing practices of media outlets, it is critical that companies develop robust communications policies and practices,” added Instinctif Partners managing partner, Sue Charles. “Clearly demonstrating progress and mapping future milestones helps establish credibility and contributes to value creation.”
Simmons & Simmons partner, Charles Mayo, said: “The bioscience sector is highlighted as a key sector for UK growth within the government’s Industrial Strategy. High standards of communications will be integral to that growth. The BIA guide complements legal and governance compliance, gives practical guidance for clear and effective communications.”