July 2008

LEGISLATIVE NEWS

NEWS FROM BIOSCIENCE COMPANIES


NATIONAL BIOSCIENCE INITIATIVES

UPCOMING REGIONAL EVENTS

 

LEGISLATIVE NEWS


OVERVIEW OF THE GOVERNOR'S BIOSCIENCE INITIATIVE

Following are the key points from Governor O’Malley’s BIO 2020 Initiative.  Under this plan the State of Maryland would invest $1.1 billion in Maryland’s bioscience industry over the next ten years. 

  • Creation of the “Maryland Biotechnology Center” – a “one-stop shop” to showcase and support biotechnology innovation and entrepreneurship in Maryland, and consolidate various state, academic and private sector ventures.  The Center will bring together TEDCO’s tech transfer initiatives, DLLR’s industry regulatory and functions and various UMD initiatives.  Industry experts at the Center will build or expand the State’s relationship with federal labs, universities, and private sector companies.

  • Expand and improve Maryland’s Biotech Investment Tax Credit.  Maryland would double its Biotech Investment Tax Credit in FY2010 and again in FY2013, a move that would leverage almost $50 million in private investment for Maryland biotech companies each year.  Currently, Maryland’s Biotech Investment Tax Credit is $6 million.

  • Invest $60 million over the next ten years to leverage $120 million in private and federal investment funds and grow Maryland’s incubator network by 50 percent.

  • Continue to invest in stem cell research at the rate of $20 million a year.

  • Increase development funds for life science facilities.  DBED has entered into a public-private partnership which will combine $1 million in state funds with $2 million in local investment.

  • Make new investments in science, research and technology initiatives by supporting UMB Health Sciences Facility III; UMB Howard Hall Medical Research Facility; the Science and Technology Park at Hopkins; UMBI Center for Agricultural and Environmental Biotechnology (CAEB); Montgomery College Bioscience Center; and the Maryland Stem Cell Research Fund.

  • Provide funding to help universities and federal labs get their innovations to market thereby increasing the number of start-up companies coming out of universities and research institutions.

  • Offer more grants and faculty attraction resources to leverage opportunities in nanotechnology.

  • Expand the University of Maryland’s School of Law program to work with Maryland entrepreneurs and start-ups to validate and protect their intellectual property.

  • Increase investment in Maryland’s Venture Fund by $152 million by 2019.  The Fund provides challenge grants to start-up companies and makes equity investments in more established companies.


Top
____________________________________________________

 

NEWS FROM BIOSCIENCE COMPANIES AND ORGANIZATIONS


Alba Therapeutics’ (Baltimore) paper on its Phase IIa clinical trial was selected as the best in its class at the Digestive Disease Week Conference.

Becton, Dickinson and Co. (Baltimore County) was cited as among the world’s most ethical companies by the Ethisphere Institute.  The selection process included reviewing a company’s code of ethics, litigation and regulatory infraction histories, evaluating the investment in innovation and sustainable business practices; and looking at activities designed to improve corporate citizenship.  Other companies on the list include General Electric Co.; Google, Inc. and McDonald’s Corporation.

BioFortis (Columbia) signs a new customer.  The Familial Barrett’s Esophagus Consortium, a collaboration among investigators at six academic medical centers, will use BioFortis’ Labmatrix for research data management.

Harbor Bank (Baltimore) will open a 3,000 square foot branch at the John G. Rangos Sr. Building at the Science + Technology Park at Hopkins later this year.  Harbor already has a presence at the UMB BioPark.

Iatrica (Baltimore) a biotech start-up has moved into new space at the John G. Rangos Building in the Science + Technology Park at Hopkins.

Martek Biosciences (Columbia) has entered into a 15-year licensing and supply agreement with Numico, a Dutch company and Europe’s top manufacturer of infant milks, formulas and weaning foods.  Martek will serve as Numico’s exclusive supplier for all of its ARA and microbially derived DHA needs for infant formula products.

Maryland Incubator Companies of the Year were announced in June and included Integrated BioTherapeutics (Frederick) as Life Science Company of the Year and Pharmathene, Inc. (Annapolis) as Graduate Company of the Year.

Osiris Therapeutics, Inc.’s (Columbia) treatment for graft-versus-host disease has been cleared by the FDA for emergency use by children.  The agency’s action will allow 150 medical centers around the country with approved plans to provide Prochymal to children without getting individual backing from the FDA.  Some 200 children a year may now be treated. Osiris’s CEO, C. Randall Mills was named as one of Ernst and Young’s business leader entrepreneurs of the year.

Plant Sensory Systems, (bwtech@UMBC Incubator) has received a Small Business Innovation Research (SBIR) grant from the National Science Foundation for $100,000 to help the company test new genetic modifications on its laboratory plants.  The research is a crucial first step in creating plants that are more productive and environmentally friendly.


Top
____________________________________________________

 

NATIONAL BIOSCIENCE INITIATIVES


Use the link below to access a new communications vehicle developed by the GBC Bioscience Committee.  We have contracted with two researchers to scan Web sites and publications around the county to find innovative legislative and regional initiatives from the entire United States that promote or build the bioscience community in a given area.  This newsletter will go out to all of our state legislators monthly and will be available as a link to the BioConnector and on the GBC Web site.

July 2008
Previous versions


Top
____________________________________________________

 

UPCOMING REGIONAL EVENTS


September 18, 2008 -- SAVE THE DATE
Johns Hopkins Biotechnology 2008 Conference Neuroscience Investors Conference: Investing in Brain Research
Location: Marriott Waterfront Hotel, Baltimore, MD
For more information and to register, click here


Top

____________________________________________________

 

For more news and events from the bioscience community,
please visit www.biosciencebaltimore.com