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June 2010 |
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Bullish on Bioscience
by Tom Thornton, President and CEO, Kansas Bioscience Authority
We all know too well the serious challenges facing our nation’s economy, and we certainly have felt the impact here at home.
Even in the midst of a tough economic environment, however,
I’m very pleased to report that the biosciences in Kansas are providing evidence that our state’s economy can come back stronger — and more diversified — than ever before.
In recent months, it’s been exhilarating to see four bioscience companies launch multi-million dollar facility expansions expected to result in nearly $40 million in capital expenditures and 170 new jobs in Kansas. For example, Cargill Meat Solutions selected Wichita as the home of its new, state-of-the-art technology and innovation center that will focus on food safety and the development of new food products.
Another expansion project highlights one of our best-kept-secret business successes: the deep concentration of companies and researchers offering world-class expertise and infrastructure in drug discovery and delivery. PRA International’s plan to expand in Kansas is a sign of the vitality of this sector that helps companies develop new drugs more quickly in Kansas.
Then there’s the KC Animal Health Corridor, which has emerged as the nexus of the nation’s food safety enterprise, bolstered by the growth and expansion of companies such as Ceva Biomune in Lenexa and the creation of a $12 million research center of excellence led by KBA eminent scholar Juergen Richt at Kansas State University.
In addition to facility expansions, we’re seeing great new industrial partnerships and venture capital developments in the state, yet more positive signs of the bioscience pipeline being filled.
Edenspace Systems of Junction City has entered into a collaborative agreement with the venture capital arm of Syngenta, considered one of the world’s leading agribusiness companies looking for early stage companies with a strong technology base or new business model. This partnership will use Edenspace technology to provide improved crops that will reduce the costs of next-generation renewable fuels and other bioproducts while protecting farm incomes and the environment.
On the venture capital front, one of the world’s largest life science-dedicated venture firms has announced it is establishing a Kansas City, Kan.., regional office — its first outside of Boston and San Francisco. Another firm participating in the KBA’s venture capital growth fund announced it is looking for investment deals in Kansas following the completion of a round of venture capital fundraising that boosted its value to $35 million.
So while the TV news may focus on doom and gloom, a look at the good news right in front of us makes me bullish on bioscience in Kansas. And at the KBA, it is our privilege to support the amazing work of innovative researchers and businesses leading our state’s economic recovery as we tackle some of the biggest bioscience challenges in the world in Kansas — and assert nothing less than national bioscience leadership!
