Maryland established as a top 3 U.S. biohealth center by 2023, as measured by 3 of the top 5 independent assessment reports

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Aldous Hawkins
5 years ago
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2 Top 10 U.S. Biopharma Clusters #4. Maryland / DC Metro The federal agencies that fund and regulate research call this region home, and so too does the nation s top academic recipient of research grant funding, the Johns Hopkins University. So it s little surprise that the region s best showing comes in patents (third with 3,959), followed by NIH funding (fourth with 457 awards totaling $221 million) of which Hopkins alone accounted for 63% or $139 million. Interestingly, the region is also fourth in lab space (9.5 million square feet), thanks to a presence of drug and vaccine developers strong enough for Gov. Larry Hogan to call biopharma the backbone of Maryland s economy during an industry forum held April at the Gaithersburg, MD, headquarters of home-grown MedImmune, the biologics arm of AstraZeneca. Another pharma giant, GlaxoSmithKline, last year chose Rockville, MD, as one of its three global Vaccine Development Centers, adding 600 jobs. Maryland and suburban Washington rebounded last year in VC funding (fifth with $262 million in 19 deals), but lag in biopharma jobs (eighth with 38,189, according to JLL). Genetic Engineering and Biotechnology News May 2, 2016 BioHealth and Life Sciences Vision Maryland established as a top 3 U.S. biohealth center by 2023, as measured by 3 of the top 5 independent assessment reports LSAB May 10, 2016

3 Maryland Commerce MEDC Strategic Plan Goal 4: Expand Targeted Industry Clusters Strategies to grow targeted industry growth clusters and industries BioHealth and Life Sciences Promote medical technology transfer from federal and universities Promote and support increasing the Biotechnology Investment Incentive and the Research and Development Tax Credits Initiate investor showcases for the life sciences industry Utilize the Maryland Life Sciences Advisory Board (LSAB) to develop coordinated strategies to support the life sciences industry 3

4 LSAB Plan Framework Vision Maryland established as a top 3 U.S. biohealth center by 2023, as measured by 3 of the top 5 independent assessment reports Leverage Core Strengths Most highly educated biohealth workforce World class biohealth technologies within gov t labs, universities, and research centers IT and cybersecurity assets with healthcare applications Robust biohealth manufacturing infrastructure Proximity of private and public sector institutions / companies Address Weaknesses Effective coordination of public and private sector organizations Commitment of capital in the BioHealth sector Competitiveness of BioHealth policy and fully-funded state BioHealth programs Lack of commercialization of BioHealth technologies from universities and federal institutions Focus on Strategic Priorities Enhance foundational support (e.g., stakeholder coordination, branding, etc.) Enhance access to capital for emerging companies Focus on convergence of IT + bioscience technologies Expand depth of regional entry level and managerial talent Accelerate technology transfers to enable advanced development and commercialization LSAB meeting, May 10,

5 BioHealth and Life Sciences Performance Goals Increase the effectiveness of the BioHealth and Life Sciences team Improve BioHealth and Life Sciences team performance Align performance goals for collaboration among the BLS team and consistency within the Department of Commerce Create growth goals for highest value accounts 2. Establish the overall BioHealth and Life Sciences focus that will provide the greatest impact in addressing the Maryland Bio industry needs, especially in the areas of capital and workforce Analyze company and sector needs and gaps in support Identify strategies for growth in coordination with private organizations Identify strategies to leverage the proximity of Federal institutions (NIH, FDA, NIST, etc) 3. Define larger-scale initiatives that address key weaknesses in the Maryland BioHealth ecosystem Accelerate tech transfer and enhance access to capital for emerging companies to enable advanced development and commercialization Expand the depth of regional talent in business strategy, technical areas and commercialization

6 BioHealth and Life Sciences Moonshot Goal Identify a large biohealth company and facilitate the location of significant operations within Maryland 6

7 Biohealth and Life Sciences Companies Critical Issues Access to Capital Product development in biohealth takes significantly longer than other industries Example: A cash infusion of $200K will take a typical company from proof of concept to production / marketing A cash infusion of $200K will take a therapeutics company from proof of concept to IND-directed studies (still 5 7 years from the market) Government programs (SBIR/ STTR, MIPS) do not provide funding for business infrastructure 7

8 Funding Options By Design Academic/Feder al Research Lab COMMERCE USM U.S. Govt. TEDCO Company/ Private Sector Federal SBIR/STTR programs ($600K - $1.1 Million) Maryland Industrial Partnerships (MIPS - $90K) VOLT ($250K) MEDAAF/MIDFA/Other JCTC/One Maryland/ Ent.Zone TC R&D Tax Credit Cybersecurity TC Biotechnology Investment Incentive Tax Credit Life Sciences Inv. Fund $200K Tech Commercialization Fund $225K Maryland Innovation Initiative $320K Tech Validation $50K Cybersecurity Inv. Fund $225 MD Venture Fund up to $1M MD Stem Cell Research Fund $110K - $750K Discovery research Proof of concept / Invention Early Stage Tech. Development Product Design / Development Production / marketing Revenues / Expansion

9 Representative Funding Distributions Academic/Feder al Research Lab COMMERCE USM U.S. Govt. TEDCO Company/ Private Sector Federal SBIR/STTR programs ($600K - $1.1 Million) Maryland Industrial Partnerships (MIPS - $90K) VOLT ($250K) MEDAAF/MIDFA/Other JCTC/One Maryland/ Ent.Zone TC R&D Tax Credit Cybersecurity TC Biotechnology Investment Incentive Tax Credit Life Sciences Inv. Fund Maryland Innovation Initiative Tech Validation MD Stem Cell Research Fund Tech Commercialization Fund Cybersecurity Inv. Fund MD Venture Fund Discovery research Proof of concept / Invention Early Stage Tech. Development Product Design / Development Production / marketing Revenues / Expansion

10 Biohealth and Life Sciences Companies Critical Issues Access to Capital Product development in biohealth takes significantly longer than other industries Example: A cash infusion of $200K will take a typical company from proof of concept to production / marketing A cash infusion of $200K will take a therapeutics company from proof of concept to IND-directed studies (still 5 7 years from the market) Government programs (SBIR/ STTR, MIPS) do not provide funding for business infrastructure Workforce Personnel C-level Business / commercial Technical Strategy Product development Programmatic/Business Commercialization Functional Legal / Accounting / IT 10

11 BIO 2020 Investment Total Spent : $574.4 Mil A Comparison to MLSI MLSI Investment Total Spent : $467.7 Mil Capital Projects Tax Credits Tech Transfer and Commercialization Research and Development Venture Capital / Loan Funds Workforce Development Capital Projects Company Grants and Loans Internships / Workforce Development Other Grants / Business Competitions Tax Incentives Academic Research Grants Equipment / Supplies for Schools Source: Economic Impact Study (RESI) 11 Source: MLSI published annual reports

12 Immediate Next Steps Define and set priority on key strategies to address: Access to capital Workforce development Leverage proximity to Federal facilities Raise awareness of the Maryland biohealth ecosystem 12

Wikipedia. What is LIFT? What is ITAC? Why companies use us? How we work with Tech companies?

Wikipedia. What is LIFT? What is ITAC? Why companies use us? How we work with Tech companies? Wikipedia Innovation to Commercialization: Regional Resources for High Technology Companies 2008 Long Island SBIR Summer Workshop Broad Hollow Bioscience Park Farmingdale State College August 20, 2008