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New BioMaryland Strategic Life-Sci Plan Begins Deploying $1.3b 2020 Vision
Colleagues,
As reported in Genome Web BioRegion News ... Maryland's Life Science Advisory Board, a 15-member panel created by Gov. Martin O'Malley, issued its long-awaited strategic plan for growing the state's biopharma industry — a 17-point program whose "one-stop shop" centerpiece has already been launched, and whose recommendations include more spending on some programs...
...the Maryland Biotechnology Center is "one stop" state agency established "to coordinate and, in certain instances, consolidate Maryland support for the continued growth and success of the bioscience and biotechnology industry in the state,"...
Lawrence Mahan, the biotech center's executive director and a longtime state economic development official, told BioRegion News that the agency has begun operating with 12 staffers and two locations — at the World Trade Center in Baltimore, and at 9700 Great Seneca Highway in Shady Grove within biotech-rich, suburban Montgomery County ...
...Montgomery County has a sizeable biotech presence: More than 350 companies, plus 19 federal research and regulatory agencies, all employing about 60,000 public and private sector life sciences professionals. The county boasts that it has the nation's highest concentration of PhDs.
Unlike the North Carolina Biotechnology Center, upon which it was loosely based, the Maryland biotech center will remain part of another agency — the state Department of Business and Economic Development...
The Center's first initiative is to establish the BioEntrepreneur Resource Program. The program will link entrepreneurs to investors and other sources of capital, as well as to share knowledge about core areas of the life sciences, business skills, and service providers, all tailored to the needs of life-sci companies seeking to commercialize technologies.
The report outlines four priorities for Maryland's life sciences effort:
• Ensure the sustained growth and competitiveness of the state's bio industry.
• Support the creation and growth of innovative bioscience companies by ensuring access to capital.
• Position Maryland for global leadership in cutting-edge areas of bioscience research and emerging and growth markets.
• Advance efforts to generate bioscience talent and develop a life sciences workforce.
...The report's BioMaryland name — shared with the Maryland pavilion at this year's BIO convention — will become the brand name for the state's life-sci effort going forward, under the report's third recommendation. The report envisions "an experienced professional marketing/public relations firm" creating a campaign for BioMaryland, which would include a network of on-call volunteers called "BioMaryland Partners," and a "Leader to Leader" program to boost ties between CEOs of existing biobusinesses in the state and heads of companies considering Maryland...
...In addition to growing existing economic incentives, the report recommended creating new programs intended to fix longtime shortcomings of Maryland's life-sci effort — from access to early-stage capital, to commercialization of technologies developed in the state's public and private universities. To address the latter, the report recommended establishing an unspecified number of Maryland Bioscience Commercialization Institutes...
... BioMaryland 2020 also calls for establishing a Maryland Life Sciences Venture Capital Trust with an initial $10 million "seed investment" from the state. The trust would grow to at least $100 million in total funds for investment, with the money coming from the state Retirement and Pension System as well as private venture funds.
The report also advises Maryland to launch a $5 million Maryland Bioscience Product Development Loan Fund capable of awarding long-term working capital loans of up to $500,000 to eligible bioscience companies in later stages of developing their products and introducing them to the market.
...BioMaryland 2020 also calls for creating a third fund; the new Maryland Bioscience Workforce Skill Development Fund would award grants of up to $100,000 to train teachers and craft new curricula so that students would emerge from state schools with stronger life-sci skills...
Read on at: http://www.genomeweb.com/bioregionnews/new-bio-center-maryland-star...
ENJOY!
CC
As reported in Genome Web BioRegion News ... Maryland's Life Science Advisory Board, a 15-member panel created by Gov. Martin O'Malley, issued its long-awaited strategic plan for growing the state's biopharma industry — a 17-point program whose "one-stop shop" centerpiece has already been launched, and whose recommendations include more spending on some programs...
...the Maryland Biotechnology Center is "one stop" state agency established "to coordinate and, in certain instances, consolidate Maryland support for the continued growth and success of the bioscience and biotechnology industry in the state,"...
Lawrence Mahan, the biotech center's executive director and a longtime state economic development official, told BioRegion News that the agency has begun operating with 12 staffers and two locations — at the World Trade Center in Baltimore, and at 9700 Great Seneca Highway in Shady Grove within biotech-rich, suburban Montgomery County ...
...Montgomery County has a sizeable biotech presence: More than 350 companies, plus 19 federal research and regulatory agencies, all employing about 60,000 public and private sector life sciences professionals. The county boasts that it has the nation's highest concentration of PhDs.
Unlike the North Carolina Biotechnology Center, upon which it was loosely based, the Maryland biotech center will remain part of another agency — the state Department of Business and Economic Development...
The Center's first initiative is to establish the BioEntrepreneur Resource Program. The program will link entrepreneurs to investors and other sources of capital, as well as to share knowledge about core areas of the life sciences, business skills, and service providers, all tailored to the needs of life-sci companies seeking to commercialize technologies.
The report outlines four priorities for Maryland's life sciences effort:
• Ensure the sustained growth and competitiveness of the state's bio industry.
• Support the creation and growth of innovative bioscience companies by ensuring access to capital.
• Position Maryland for global leadership in cutting-edge areas of bioscience research and emerging and growth markets.
• Advance efforts to generate bioscience talent and develop a life sciences workforce.
...The report's BioMaryland name — shared with the Maryland pavilion at this year's BIO convention — will become the brand name for the state's life-sci effort going forward, under the report's third recommendation. The report envisions "an experienced professional marketing/public relations firm" creating a campaign for BioMaryland, which would include a network of on-call volunteers called "BioMaryland Partners," and a "Leader to Leader" program to boost ties between CEOs of existing biobusinesses in the state and heads of companies considering Maryland...
...In addition to growing existing economic incentives, the report recommended creating new programs intended to fix longtime shortcomings of Maryland's life-sci effort — from access to early-stage capital, to commercialization of technologies developed in the state's public and private universities. To address the latter, the report recommended establishing an unspecified number of Maryland Bioscience Commercialization Institutes...
... BioMaryland 2020 also calls for establishing a Maryland Life Sciences Venture Capital Trust with an initial $10 million "seed investment" from the state. The trust would grow to at least $100 million in total funds for investment, with the money coming from the state Retirement and Pension System as well as private venture funds.
The report also advises Maryland to launch a $5 million Maryland Bioscience Product Development Loan Fund capable of awarding long-term working capital loans of up to $500,000 to eligible bioscience companies in later stages of developing their products and introducing them to the market.
...BioMaryland 2020 also calls for creating a third fund; the new Maryland Bioscience Workforce Skill Development Fund would award grants of up to $100,000 to train teachers and craft new curricula so that students would emerge from state schools with stronger life-sci skills...
Read on at: http://www.genomeweb.com/bioregionnews/new-bio-center-maryland-star...
ENJOY!
CC
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