Thursday, October 17, 2013

Xconomy: 'Colorado Biotech Searches for a Few More Investors, Anchor Tenants'

Xconomy Boulder/Denver reporter Michael Davidson reports on the status of our area's biotech cluster...including standouts Array BioPharma and Clovis Oncology, Colorado's two “major league companies” with at least $100 million in cash and short-term investments...and thoughts from his interviews with Pat Mahaffy, Ron Squarer and Kyle Lefkoff at the recent Rocky Mountain Life Science Investor and Partnering Conference in Denver.

Quoting from the article about the local pipeline:

"the numbers show Colorado is doing fairly well in its weight class, to use a boxing analogy. According to the Colorado BioScience Association, there are 600 bioscience companies in the state, which include biotechnology, medical device, diagnostic, agricultural-bio, and pharmaceutical companies. Together they employ about 27,000 people.

Investors also know their way to Colorado. Over the past five years, venture capital firms have invested $1.63 billion in Colorado companies, and during that time larger companies have spent $10.17 billion to acquire companies based in Colorado.

Colorado also recently invested heavily in upgrading research facilities. Major projects are underway at the University of Colorado at Boulder and the Fitzsimons Life Science District near the University of Colorado’s Anschutz Medical Campus in Aurora. They are intended to create institutes or facilities that catalyze the growth of companies in the area."

Link to the full article at Xconomy Boulder/Denver

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