bio

In partnership with several major pharmaceutical companies, the United Kingdom’s (UK) Secretary of Health Jeremy Hunt announced the creation of the $100 million Dementia Discovery Fund. The UK government-led venture fund will support innovative research across the globe to help find new ways to prevent and treat dementia and Alzheimer’s disease. Private sector partners that already have agreed to invest in the project include Biogen, GlaxoSmithKline, Johnson & Johnson, Lilly and Pfizer. One of the UK’s largest Alzheimer’s-focused foundations, Alzheimer’s Research UK, also will commit funding to support the development pioneering new drugs to treat the condition. Read the press release…

Over the past decade stem cell research has been touted as a game-changer in the life sciences and a potential fount of new biomedical innovations. As a result, several states have launched targeted programs to support stem cell research, despite the controversy that tends to surround the field. New research suggests that these programs have been effective at increasing the output of researchers in their respective states. State investments in California and Connecticut have helped researchers outperform their colleagues around the country, according to a recent paper published in Cell Stem Cell. Programs in New York and Maryland did not have quite the same impact, but helped research output in those states keep pace with other states.

Gov. Terry McAuliffe hopes to increase the commonwealth’s profile in the global life sciences industry through his recently launched Virginia Bioscience Initiative. The initiative will develop cross-agency linkages, as well as public-private partnerships, to support entrepreneurs, use big data to drive new discoveries and speed the commercialization of new technologies. Gov. McAuliffe released a number of other new initiatives in conjunction with his New Virginia Economy Strategic Plan, including a business plan competition that would focus on agriculture, bio-life sciences, cybersecurity, energy and social entrepreneurship, a community small business launch fund and tax incentives for energy companies and green job creators.

Minnesota’s economic future may well be rooted in its historic leadership in agricultural production, according to a new report prepared by Battelle, Agbioscience as a Development Driver: Minnesota Agbioscience Strategy. The report includes an assessment of Minnesota’s key capacities and opportunities in agricultural research and a suggested strategy for the state with a specific focus on growing the state’s agricultural bioscience (agbioscience) research infastructure. After interviewing more than 100 researchers and research administrators, the authors identified four agbioscience research platform areas to target:

Arizona is in a better position to emerge as a global player in biosciences that it was a decade ago, according to a new roadmap from the Flinn Foundation. Building on an initial strategic document released in 2002, the updated strategy offers 77 potential actions the state could pursue to support bioscience entrepreneurship, research translation, talent development, institutional connectivity and collaborations. Risk capital plays a key role in the updated strategy, which challenges Arizona to attract an annual share of national venture capital investment equal to its share of population by 2025.

The National Institutes of Health (NIH) is accepting applications for the Research Evaluation and Commercialization Hub (REACH) program to support proof-of-concept centers (Hubs) that facilitate and accelerate the translation of biomedical innovations into commercial products that improve patient care and enhance health. NIH intends to award approximately $9 million to institutions of higher education to establish three new REACH Hubs. In addition to helping identify innovations appropriate for commercialization, REACH Hubs must provide entrepreneurial educational opportunities to academic investigators about the design and conduct of product definition studies and the commercialization processes required for transitioning a technology out of academic labs to the private sector via a startup venture or a licensing agreement. Applications are due June 26. Read the federal funding announcement…

The FY15 budget bill passed by Maryland lawmakers increases funding for three of the state’s high-tech tax credits and provides level funding for continued innovation-focused investments. Lawmakers also passed bills to fund endowed chairs, create zones to incentivize businesses, and establish a statewide internship program connecting students to small, technology businesses.

Massachusetts’ continuing success in the biopharmaceutical sector depends on finding new ways to fund startup and early stage research activities, according to a new strategic plan released by the Massachusetts Biotechnology Council (MassBio). The report cites recent data showing that life sciences venture capital has fallen by 50 percent over the past five years and many investors have turned to later stage investments. In place of this model of startup funding, the group recommends engagement with a number of alternative funding channels, including angel groups, foundations, wealthy individuals and crowdfunding services. The report also includes a number of other recommendations to improve the environment for new and growing life sciences firms.

Pointing to the growth potential in jobs and health within the life sciences industry sector, Gov. Jay Inslee vetoed a $20 million cut in funding to the nine-year-old Life Sciences Discovery Fund (LSDF), allowing the fund to honor existing commitments and proceed with the 2013-14 Proof of Concept grant program and Entrepreneur Mentoring grant program. The state’s budget director David Schumacher said the sheer volume of letters from biotech companies in support of saving the fund carried weight in the governor’s decision, reports The Olympian.