'Colorado, Florida, New Jersey, Pennsylvania, and Washington gear up to boost growth plans...'

Quoting from today's article by Alex Philippidis:

"Colorado life science leaders are working with state lawmakers this year to create a 'fund of funds' for venture capital firms that invest in life science and other technology start-ups. It would also extend the Bioscience Discovery Evaluation Grant Program (BDEGP), a $27 million initiative set to expire next year. 'We’re looking at hopefully starting a $100 million fund,' Holli Baumunk, president and CEO of the Colorado BioScience Association (CBSA), told GEN.

While CBSA is assessing options that include public funding, it is leaning toward more private-sector funding given the state’s budget woes; Colorado faces a $1.1 billion shortfall. 'The appetite is not really there right now to do it on the public side because of the budget issues,' Baumunk remarked.

BDEGP awards $5.5 million annually toward proof-of-concept initiatives, company formation, and infrastructure to support the growth of the industry. As of last month, the state appropriated $14 million toward the program. The industry credits the initiative with: creating 598 direct and indirect jobs in the state; leveraging $68 million in follow-on investment, grants, and matching funds; and helping 18 companies spin out of Colorado’s research institutions, with at least three more companies pending as a result of proof-of-concept grants.

Baumunk said a measure to extend BDEGP five more years is pending in the state General Assembly sponsored by Rep. Cheri Gerou (R) and Sen. Pat Steadman (D). BDEGP is among state programs funded from gaming dollars. The budget shortfall is raising concerns that the money will be diverted to the general fund rather than continue to be used for BDEGP or other programs. Baumank noted that the program may lose a total of $300,000 from the $5.5 million appropriated each year."

Link to the GEN posting

BioBoulder is Tuesday, March 29 - Don't Miss It!

Quoting from the Boulder County Business Report:

"The Colorado BioScience Association is hosting BioBoulder from 5:30 to 7 p.m. on Tuesday, March 29, at Laudisio Italian Restaurant, 1710 29th St. in Boulder. Join colleagues in biotechnology, medical device, biofuels and the university community for an open networking event. Admission is free for members and $50 for nonmembers."

Link to register at the CBSA website

Link to the Boulder County Business Report

Boettcher Investigator Melissa Reynolds: "CSU researcher works toward better healing"

Quoting directly from the article by NCBR's Steve Porter: "The goal of Melissa Reynolds' research at Colorado State University couldn't be much nobler - and that isn't an overstatement. Reynolds, a chemistry professor and a Boettcher Foundation investigator, recently received a three-year, $1.3 million grant from the U.S. Department of Defense to develop a revolutionary wound-healing material for treating battlefield injuries...'Dr. Reynolds has been on a steep trajectory in her research career following her recognition as a Boettcher Investigator,' said Bill Farland, CSU's vice president for research. 'The generous grants awarded by the Boettcher Foundation and state's Bioscience Discovery Evaluation Grant Program, through the Office of Economic Development and International Trade, have helped stimulate important research in her laboratory.'"

Link to the Northern Colorado Business Report

Colorado BioScience Association - March Focus Newsletter

Letter from President Holli Baumunk
Company News - CaridianBCT
Thank you Rick Jory
All Member Meeting
Company Spotlight- Baxa Corporation
Investor & Partnering Conference
Colorado Pavilion at BIO

Link to CBSA's March Focus Newsletter

'Creating new funding in a post-recession market' - Including CBSA's Holli Baumunk & Jim Linfield

Quoting from today's Denver Business Journal article by Heather Draper - both CBSA President & CEO Holli Baumunk and CBSA Board Member are included in the article:

“'We’re working diligently to figure out other ways to help our companies,' said Holli Baumunk, president and CEO of the Colorado BioScience Association. 'We are exploring different options and different structures to determine what would work best for Colorado.'

The bioscience industry, which includes medical device manufacturers, drugmakers and biotechnology firms, employs about 20,000 people in Colorado, she said.

The recession made venture capitalists much more cautious with their funding, Baumunk said, and the ones who are still investing come in at later stages, when the company is already established, to try to reduce their risk.

'That creates problems for smaller, emerging companies,' she said."

Link to the Denver Business Journal website

Boettcher Investigator Melissa Reynolds Receives $1.3 Million Defense Grant

Quoting from the online postings:

"The Department of Defense has awarded a Colorado State University chemistry professor a three-year, $1.3 million grant to develop an artificial, wound-healing material for battlefield injuries.Melissa Reynolds, assistant professor and the only Boettcher Investigator at Colorado State, has developed a biodegradable polymer with healing properties – essentially a soft plastic – that could be used inside or outside the human body. The material contains nitric oxide, which is a naturally occurring substance within the body that can prevent infection while also promoting healthy cell growth...In 2010, the Boettcher Foundation named Reynolds as one of only six 2010 Boettcher Investigators as part of the Webb-Waring Biomedical Research Program, which helps recruit, retain and advance scientific talent in Colorado.

Link to Northern Colorado 5

Link to the Coloradoan

Congratulations Boettcher Investigator Melissa Reynolds, CSU Professor Receiving $1.3 Million Defense Grant

Quoting from the Colorado State University News & Information site:

"The Department of Defense has awarded a Colorado State University chemistry professor a three-year, $1.3 million grant to develop an artificial, wound-healing material for battlefield injuries. Melissa Reynolds, assistant professor and the only Boettcher Investigator at Colorado State, has developed a biodegradable polymer with healing properties – essentially a soft plastic – that could be used inside or outside the human body. The material contains nitric oxide, which is a naturally occurring substance within the body that can prevent infection while also promoting healthy cell growth. Reynolds and her team are in the early stages of developing a prototype, but eventually, the material will look like gauze in a first-aid kit. This gauze, however, will have additional biological materials to help heal more effectively."

Link to CSU News

Boulder Companies: "Biotechs progressing toward goals"

Quoting from the article mentioning the CBSA:

"A handful of area biotechnology firms are moving full steam ahead, bucking a national trend that has seen many cash-strapped companies in the field close down for lack of funding. Those companies include Boulder-based AmideBio LLC, which is creating new, natural material which could revolutionize Alzheimer's research. Boulder-based miRagen Therapeutics Inc. recently received a key U.S. Food and Drug Administration approval for a drug to regulate blood cell development. And Boulder-based InDevR Inc. saw its virus research published in an important industry journal. More than 80 bioscience companies large and small are located in the Boulder Valley, according to the Colorado BioScience Association. Of those, 35 are biotech/pharmaceutical companies, 40 are medical device companies, and at least four are biofuel companies. Bioscience workers make an average salary of $74,000, according to state statistics."

Link to the Boulder County Business Report

Collaboration: Bioscience Industry Teams with Colorado State University to Create Online Regulatory & Clinical Trial Management Certificate Programs

Quoting from the CSU News & Information Posting about the new program:

"Colorado State University has joined with numerous bioscience industry partners on a new educational collaboration that includes the creation of online regulatory affairs courses and clinical trial management courses for the pharmaceutical, medical device, in-vitro diagnostic, and tissue industries...

'Colorado’s bioscience industry is lucky to have such a remarkable program in its backyard, meeting the increasing demand of regulatory needs of its local companies and providing an incredible resource for the region. This program adds to the value of growing a bioscience company in Colorado, and we are proud to be a partner in the effort,' said Holli Baumunk, president and CEO of the Colorado Bioscience Association."

Link to the CSU Posting

Link to coverage in the Northern Colorado Business Report