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May 2009

Massachusetts Life Sciences Center's Internship Challenge

One of the greatest challenges facing the new biotech economy is advancing on the foundation of a solid workforce. One of the strongest supporting factors for developing and enhancing an industrial cluster is the steady production and recruitment of skilled applicants for employment. This issue has become increasingly apparent in today’s economic climate where unemployment is reaching an unprecedented high and many potential employers are unable to fill key positions. Massachusetts Life Sciences Center (MLSC) has proposed a solution to this dilemma. The Internship Challenge will place 100 local college students with a company or research lab in their field of interest.  The intern gets a mentor, and a glimpse of the life of a researcher and the host institution gets not just an open position filled for the summer but the chance to link with a professional for a lifetime. The launch of the first ever Internship Challenge will be held Monday June 1, at 10:00 a.m. located at Nine Cambridge Center in Kendall Square, Cambridge, MA at The Whitehead Institute for Biomedical Research.

When starting a company there are a number of factors to consider including:
 
•            Access to capital.
•            Local incentives for industry.
•            A community with a trained workforce.
•            Space that will meet your company’s requirements.
•            A product with a competitive advantage.
 
The availability of a skilled workforce is right below getting the funds to build your business. 
 
The MLSC’s Internship Challenge is a workforce development program enhancing the ability of job market talent in Massachusetts. Massachusetts is at the top of life science clusters in the world with Institutions such as MIT, Harvard University, University of Massachusetts, Dana Farber Cancer Research Institute, and large life science firms such as Genzyme, InVivo Therapuetics, New England Peptides, and New England Biolabs. With so many highpoints in the local economy located in the spectrum of the life sciences, it is critical that Massachusetts ensures a steady output of trained, skilled professionals ready to meet the demands of tomorrow’s economy. 
 
Since the announcement of the Center’s Life Sciences Internship Challenge in March, over 500 applicants have submitted requests for placement in the program. Additionally, more than 70 research institutions and companies have committed involvement in the program. As a result, more than 70 applicants have been placed with mentors for this summer. MLSC is holding a launch event for the Internship Challenge Monday June 1, at the Whitehead Institute for Biomedical Research in Cambridge. 
 
The Internship Challenge is open to any student that is a resident of Massachusetts or enrolled full time in a four year college or university located in Massachusetts and majoring in Science, Technology, Engineering, or Mathematics. The intern receives a $4,800 stipend for 8 weeks this summer while working with a host company that will provide a dedicated mentor, and meaningful internship opportunity. The need for increased internship opportunities was identified as a key finding in a recent study jointly released by MLSC and The Massachusetts Biotechnology Council. It is the hope of the Center that this program will continue to inspire interest in the sciences and attract further industry development in the Massachusetts burgeoning life sciences industry.
 
The launch event will go from 10:00 a.m. until 12:00 p.m. Remarks will be provided by internship sponsors, including InVivo Therapeutics President & CEO Frank Reynolds, New England Peptide CEO Dave Robinson, NP Medical Inc. President Boris Levin, and Jane Staples, Director of Cooperative Education & Internship Programs at the University of Massachusetts at Dartmouth. An expert panel will then answer questions submitted by the students. This session will be led by MLSC President and CEO Dr. Susan Windham-Bannister, with panelists including MLSC Scientific Advisory Board Chairman Harvey Lodish, former Vertex Pharmaceuticals President & CEO and MLSC Board member Joshua Boger, Cytonome Inc. CEO and MLSC Board Member Lydia Villa-Komaroff, and Carmichael Roberts, Partner at North Bridge Venture Partners specializing in investments in the life sciences.
 
The Massachusetts Life Sciences Center (MLSC) is a quasi-public agency of the Commonwealth of Massachusetts tasked with implementing the Massachusetts Life Sciences Act, a ten-year, $1 billion initiative that was signed into law in June of 2008. The Center’s mission is to create jobs in the life sciences and support vital scientific research that will improve the human condition. This work includes making financial investments in public and private institutions that are advancing life sciences research, development and commercialization as well as building ties between sectors of the Massachusetts life sciences community.
 
Whitehead Institute for Biomedical Research is a leading, nonprofit research and educational institution that has defined the cutting edge of biomedical science, creating a legacy of research excellence and academic eminence since 1982. Wholly independent in its governance, finances and research programs, Whitehead shares a teaching affiliation with Massachusetts Institute of Technology (MIT), offering the intellectual, collegial and scientific benefits of a leading research university.
 
Directions to the event can be found  at www.wi.mit.edu/about/directions.html 
 
 
 
Additional articles on the subject.
 
Massachusetts Life Sciences Center (MLSC) www.masslifesciences.com
 
Whitehead Institute for Biomedical Research www.wi.mit.edu
 
The Massachusetts Biotechnology Council www.massbio.org
 
 
 
*Updated 7/21/09

BioEnterprise

BioEnterprise is devoted to developing the biomedical industry of Northeastern Ohio. With a broad network of incentives, collaborations and funding resources the organization is strengthening the economy of Ohio and the rest of the nation with it. 

BioEnterprise has already gathered close to $820 million in capital since its inception in 2002. The organization welcomes established businesses to the region and builds upon the existing cluster through business incubation and consultation. They have an enormous range of resources including wet lab space as well as facilities in both Akron and Cleveland. 
 
 
BioEnterprise www.bioenterprise.com
 
*Updated 7/21/09

Accelerator Corporation

Accelerator Corporation is the product a collaboration of financial capital, research institutions and technological innovation. Formed in 2003 by Alexandria Real Estate Equities, The Institute for Systems Biology and venture capital firms Amgen Ventures, MPM Capital Arch Ventures and Versant Ventures among others, Accelerator Corporation is building a biotech industry cluster in Seattle, Washington. 

Applying the resources of The Institute for Systems Biology, Accelerator builds companies based on innovative technology. Accelerator has the experience to handle the business aspect of the company and let the scientists worry about the research. With this model the company is able to avoid many of the common mistakes that small companies often make. The companies at Accelerator Corp are basically established corporations the day they are formed which makes survival much simpler for the busy start-ups. 

Emtech Biotechnology Development Inc. (Emtech Bio)

Emtech Biotechnology Development Inc. (Emtech Bio) is a partnership between Emory University and Georgia Institute of Technology. Located in Atlanta, GA on Emory’s Briarcliff Campus. The non-profit corporation specializes in assisting local companies develop bio-based technologies into market ready products. 

The business incubator is located within the Innovation Crescent and jointly funded through Emory and Georgia Tech by the Georgia Research Alliance. The 6,000 sf facility provides lab space and facility use for start-up companies focused on translational research in the field of biomedicine. In addition to licensing and incubation assistance Emtech Bio also operates a seed grant program for affiliated faculty. Emtech Bio is located within close proximity to midtown Atlanta and Hartsfield-Jackson Atlanta International Airport.

MU Life Science Business Incubator

On Monday May 4, 2009 the University of Missouri officially opened the new MU Life Science Business Incubator operated by the Missouri Innovation Center at Monsanto Place. The Life Science Business Incubator has the objective of developing a technology industry cluster in mid-Missouri. The incubator currently has 5 tenants, located on the site.

The Missouri Innovation Center (MIC) operates the University owned facility and was formed in 1984 with the purpose of economic development by creation, incubation, and attraction of high growth ventures. MIC is designated a small business incubator under Missouri tax code and was selected by the University of Missouri to operate the MU Life Science Business Incubator at Monsanto Place, where it became a resident at the end of 2008.
 
 
The University of Missouri along with local industry and community members launched an initiative in 2004 to build a life science business incubator. Stakeholders along with State and Federal government funded the construction of the MU Life Science Business Incubator, raising $9 million needed to accomplish the construction of the 33,000 sf building with room for 14 companies. The incubator is situated within the animal health corridor which stretches from Manhattan, KS to Columbia, MO. 
 
 
The incubator is able to accommodate a range of tenants specializing in the fields of biomedical technologies, information technology, renewable resources/green technology and nanotechnology as well as more traditional consumer based businesses. The incubator is located on the campus of MU and tenants have access to an enormous range of university assets by being included as an incubator project, and therefore within a university department. Incubator space is open to ventures formed by MU affiliates, ventures formed by members of the community and ventures from outside the community wishing to enter into and expand within the community. 
 
Currently 5 companies are located within the incubator. Companies are expected to stay in the incubator for 2-5 years or until the company is capable of supporting itself. The five companies within the incubator include Centennial Investors, an angel network, and PetScreen the only company in the world to offer canine lymphoma blood tests.
 
The MU Life Science Business Incubator after many years of anticipation is finally a reality, and many can expect to hear much more from them and the Missouri Innovation Center.
 
MU Life Science Business Incubator website www.muincubator.com
Missouri  Innovation Center website www.missouriinnovation.com
 
 
More articles on the MU Life Science Business Incubator
 
*Updated 7/21/09

 

Introduction to a Biotech Incubator

As an introduction to the future facility spotlights from Luminogenics’ National Wet Lab Resource Directory I will describe the structure and function of a biotech business incubator. Biotech incubators tend to provide the same resources as a traditional incubator except they also have specialized facilities to support the business of biotechnology. Not all incubators are the same, some have higher demands for space and so they demand more from tenants, but as industry and innovation expand so do advances and technologies. Requiring more space, more funds and hopefully producing better gains.   However, they all want the same thing, they want your business to grow, they want your business to stay local, and they want your business to attract more of the same.
 
 
Biotechnology may seem to be a bit of a buzzword these days, but it’s just the implementation of genetic research into practical uses. One reason that biotech is becoming such a hot topic is because innovation happens on a daily basis, and innovation is becoming more frequent and more relevant to today’s lifestyle and economy. Biotechnology is going to revolutionize the world we live in just as the industrial revolution did, and the information revolution is today. Understanding the business of the science is just as important as understanding the science of the business. 
 
 
Generally a business incubator whether virtual, traditional or tech specialized, performs the same functions:
 
1.            Provides business space at a cost affordable for a small business.
 
2.            Provides a resource of personnel to help manage an early stage business.
 
3.            Provides a structural support for the business in terms of directing the company to optimal growth by developing a solid business plan.
 
 
In addition to those three factors a specialized biotech incubator fulfills three more functions:
 
1.            Access to external funding sources by venture capital funds and angel investors.
 
2.            Provides a community network for intellectual resources and expertise, (this goes beyond simple management practices, some incubators are closely tied to research institutions.)
 
3.            Provides a platform for growth and acceleration.
 
 
Biotech incubators also have state of the art facilities at their disposal, whether on site or located within the confines of the research park/ academic institution, including waste disposal and animal facilities; or expensive equipment like autoclaves, purified water, HVAC systems, industrial plumbing and even sequencing facilities.   They also always have experienced veterans from industry; people who have worked in the laboratory and who also know how to run a successful business. 
 
 
Biotech incubators initially arose out of research faculty’s need for additional space to develop and commercialize discoveries or inventions developed within the traditional academic setting. Some incubators are still only open to faculty and students on campus who have a technology they want to commercialize. In other cases incubators are open to companies awarded acceptance through a business plan competition, and in some cases the space is available to those who can afford it. Whatever the reason might be for how you got there the same thing is expected of you, you are expected either to already have a proof of concept or to be ready for the next stages of scaling up and building your management team.
 
 
The incubator is looking to find tenants with viable products. The goal is for you to graduate from the incubator and move on to a larger facility, sometimes this is an accelerator, other times it is space on the site of the incubator/ research park where you began. This way your business will be able to continue to grow with the help of the network you developed while in the incubator. Hopefully you will be able to start hiring a workforce and be able to sustain the business in the same locality where it originated. And this is why incubators are so important to the future of the economy, biotech is still new, many people don’t even understand what it is; but some are aware of its importance and they want it, they want your industry in their town, and an incubator might just be the best way to get it.
 
 
 
Additional articles on biotech incubators:
 
Expansion Management, 2002, The Anatomy of a Biotech Incubator  www.expansionmanagement.com/cmd/articledetail/articleid/15643/default.asp
 
 
Genetic Engineering and Biotechnology News, 2009, Building a Successful Biotech Incubator 
www.genengnews.com/articles/chitem.aspx?aid=2962
 
 

*Updated 7/21/09 

Innovation in Ann Arbor

Mike Finney, CEO of Ann Arbor SPARK was on a panel with other speakers from industry Monday afternoon, for the Innovation Economy forum, hosted by the University of Michigan, at the newly renovated art museum. The Ann Arbor Chronicle reported today that the forum is a follow up to an event hosted 18 months ago and brought together members of the community and from within UM to talk about ways in which to partner.  Mr. Finney spoke about connections between UM and businesses within the community. He said that Ann Arbor SPARK is a way to draw business to the city, and as a result of the program two thirds of the business drawn becomes associated with the university; asserting that there is a very direct connection between business within the city and UM. One of the efforts already underway at UM is the UM Business Engagement Center, which will foster and strengthen relationships between the city and UM.   Ann Arbor SPARK is tasked with the mission of advancing the economic development of innovation based business in the Ann Arbor region by offering programs, resources, and proactive support to business at every stage, from start-ups to large organizations looking for expansion opportunities.

 
The Ann Arbor Spark Website www.annarborusa.org
 
Read Mary Morgan's article in the Ann Arbor Chronicle www.annarborchronicle.com/2009/05/12/innovating-out-of-an-economic-hole
 
*Updated 7/21/09

Bernanke Says The Recession Won't Last, But What About Biotech?

For the first time in almost 30 years the biotech industry has made a profit, says Ernst & Young's annual report on the state of the biotechnology industry released yesterday. That trend, the report states may not continue, a major contributor to that profit came from Genentech which has recently been acquired by Roche. The Federal Reserve Chairman Ben Bernanke told Congress today, economic activity is likely to bottom out and then to turn up later this year, which might be good news. The current Influenza threat is also affecting the industry, and just how this threat will determine the direction of the market is still unclear. The news that the recession might not last another year may not be as encouraging for the biotechnology industry as it is for others though, as sources of funding are scarce and becoming scarcer; for some, this may sound the beginning of an elimination round.

 
In the report issued Tuesday May 4, the authors stated that although the industry produced a record profit of $400 million last year, the current banking crisis might make the event of that happening two years in a row impossibility. Most of this revenue generated can be attributed to presence of Genentech as an independent company. Roche recently acquired Genentech in April of this year that merger, as well as a number of others happened during a round of general consolidation within the industry. Consolidation including the acquisitions of MedImmune by AztraZeneca Plc, ImClone by Eli Lilly & Co. and Millennium Pharmaceuticals by Takeda Pharmaceutical Co. But beyond those, and a few other deals, there are indicators of strife within the market. ZymoGenetics has undergone a period of restructuring including a round of layoffs and the shedding of "non core" assets to Seattle Life Sciences in exchange for milestone returns and license royalties.
 
Some younger companies are likely to be sheltered during the selection process. Many startups can still consider themselves under the banner of their respective incubator and accelerator programs, which are fundamental to the American R&D process. While federal regulations surrounding stem cell research have relaxed, many small business grants for that type of research will become increasingly competitive. In Massachusetts last week, The Massachusetts Life Sciences Center, awarded $3.4 Million in loans to seven local biotech companies, those loans also include matching funds from the Center's Corporate Consortium Program. For The Massachusetts Life Sciences Center, Corporate Charter Member Johnson and Johnson will contribute $500,000 over two years. But, some companies are not as lucky, and as the E&Y report states, most of them only have enough capital to survive for another year.
 
In light of the current Influenza scare the review may sound a little pessimistic, it is difficult to predict exactly how the economy will be influenced by the flu season this winter. Certainly, a full pandemic will necessitate massive state support for vaccine and antiviral development. Already, MedImmune and Novavax have announced plans to develop recombinant H1N1 vaccines in the coming months and, there is even some speculation that easy to use diagnostics will accommodate people who are either too sick or too scared to leave home. While it does seem that the general public is not entirely ready to embrace at home diagnostics and personal genomics, that could change if the flu becomes more virulent.
 
While the report states that what little consolidation expected has already occurred, Federal Reserve Chairman Bernanke announced today, the recession is not likely to last much longer, a hope that might play down the risk typically associated with biotech investment. During the market's plummet of recent months, many hedge funds have been unable or unwilling to produce the resources they normally provide to the industry. Bernanke told Congress this afternoon, banks are not as worried about solvency as they were, some might hope that optimism is passed onto the biotech industry.
 
*Updated 7/21/09

 

Swine Flu Might Pass

Health and Human Services Secretary Kathleen Sebelius told NBC's Meet The Press, that vaccines against the flu will be ready by next fall. Generally vaccine production takes at least a couple of months to plan and implement, and by that time all of our worries could be over. While the numbers of new cases being reported to the Center for Disease Control and the World Health Organization are on the rise, the severity of cases is lower, and deaths caused by the illness are fewer than initially estimated. In the event that the disease does become more widespread officials are recommending the use of Relenza, an antiviral that is in lower supply than Tamiflu.

Swine Flu has reached 19 countries around the globe yet, CDC officials are watching with cautious optimism despite the increase in reported cases. Some countries are taking the matter extremely seriously as in the cases of China and Egypt where respectively, communities are under quarantine and pig populations are being eradicated. The flu oddly has been affecting people of a medium age group primarily in the ranges of 20 - 40 years old.  Also, the flu is killing fewer people and causing less pronounced symptoms in those people who are diagnosed with the flu.   The Southern Hemisphere is now entering the winter flu season, and if cases do not dissipate you can be sure to expect stronger counter measures.
 
Some epidemiologists are likening the current outbreak to the 1918 Influenza epidemic which killed millions world wide. Like the current H1N1 flu, the 1918 outbreak initially started as a milder form of the virus. The virus mutated into a more virulent and deadlier version of the strain and struck the Northern Hemisphere that following winter after it had been identified and dismissed.
 
Medical treatment and Technology has changed significantly since the 1918 epidemic with the advent of neuramidase inhibiting antivirals, and sophisticated vaccines. Officials are encouraging the use of Relenza as an initial prescription antiviral rather than Tamiflu, because of the quantities of medication available. GlaxoSmithKline's Relenza is in lower supply and the exhaustion of those stockpiles will prevent the virus from developing a resistance to Roche's Tamiflu which will be used more broadly if the virus spreads next fall during the Northern Hemisphere's flu season.
 
The production of an H1N1 vaccine is thought to be the surest means of diverting a global crisis but, that process takes time. Some biotech companies are using cutting edge techniques to reduce the time necessary to make a viable vaccine. Rather than developing an attenuated strain of the virus which is how most flu shots work, some companies are working on a vaccine that will only use specific proteins from the H1N1 virus. While Sebelius told NBC's Meet The Press, that the vaccine will take time she said, don't worry "We'll be ready."
 
(Sources: Reuters, Bloomberg L.P., New York Times, and San Jose Mercury News)
 
 
*Update 7/21/09

A new look for the site

Dear Reader,

In these uncertain times of economic crisis and with the threat of a global pandemic, it is important to remain focused on progress.  It is true that it may look as if the world is crumbling around you, and sometimes it may even feel that way but, I assure you that is not the case.  Members of the biotech community through their innovation and determination keep the world running on time with steady steps in the right direction one foot at a time.  Through sound policy and smart ethical choices there is no doubt that America and the rest of the World will come out of this crisis on top, and in better shape than before this mess began.

 

With that in mind we at Luminogenics would like to announce to you our reader, that the site now has a new look; and that new look is a glimpse of the current changes in motion.  In order to give you the most up to date information, we will be bringing you more news and in richer detail; we will also be bringing the news to you in greater depth with added perspective through the addition of a new synopsis section where Luminogenics staff members will breakdown the news into terms relevant to you and your business.  In addition, we will be adding a commentary section devoted to original articles written by the Luminogenics staff.

 

Please subscribe to the Luminogenics news feed for all of your biotech information needs.

And, I encourage you to post your own comments to stimulate discussion..

 

Sincerely,

Morgan Burns

morgan@luminogenics.com

www.luminogenics.com

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