The annual conference for Ohio’s expanding bioscience industry will be held October 20-21 in Dublin, Ohio. The program will focus on Ohio’s $1.57 billion bipartisan Jobs Stimulus Plan, specifically the $100 million targeting biomedical company expansion and product commercialization. More than 300 people already have registered, and there’s still time for you to join them.
For a complete agenda and registration information, visit www.bioohio.com.
Governor Strickland signed House Bill 554 on June 12, 2008, which created a $1.57 billion jobs stimulus package that aims to create new jobs and lay the foundation for future economic prosperity.
Ohio’s biomedical industry is one of four growth industry clusters tabbed for stimulus package funding. The plan also designates $250 million for a Higher Education Workforce Initiative to be coordinated by the Ohio Board of Regents. The BioOhio Annual Conference will cover both of these aspects in detail.
“Bioscience is one of a small handful of sectors leading Ohio’s economic resurgence,” said BioOhio President & CEO Tony Dennis. “The Governor’s stimulus plan will provide the additional energy bioscience and medical technology companies need to continue their growth today and contribute to Ohio’s tomorrow.”
An opening reception with a bioscience student poster session and sponsor booths will occur on October 20. The October 21 agenda will feature State of Ohio officials, including Lt. Governor Lee Fisher, national and local industry leaders, and former Buckeye quarterback Craig Krenzel, who will deliver an inspiring talk on teamwork and leadership.
The 2008 BioOhio Annual Conference is made possible, in part, with support from valuable sponsors, including the Ohio Department of Development, Calfee, Halter & Griswold, LLP, and Camargo Pharmaceutical Services, among others.
The Global Cardiovascular Innovation Center (GCIC) launched the latest round of its Commercialization Funding Program on October 1. Through this program, GCIC seeks proposals for cardiovascular technology commercialization projects with the objective of establishing new businesses and jobs within Ohio. GCIC can provide development assistance and financial support to help advance promising technologies to commercial milestones. Proposals are accepted from research institutions and companies currently located in Ohio or those seeking to develop a presence in Ohio.
This program is competitive and projects are evaluated on technical, commercialization and economic development merits by the independent GCIC Commercialization Advisory Board – comprised of medical industry experts, venture capitalists and clinicians. To date, GCIC has awarded grants averaging $300,000 to a total of over 30 projects in three prior funding rounds. The Request for Proposals is currently available for download on the GCIC website at www.gcic.org. Applications are due November 21, 2008. Final funding determinations will be made next February.
Mark Low, Managing Director and Tom Sudow, Director of Business Development, and others from GCIC will be at the TechColumbus Center (1275 Kinnear Rd Columbus, OH) on October 28 at 2:00pm to discuss the RFP. RSVP to Twatterman@techcolumbus.org.
The GCIC is a product commercialization consortium made possible by a $60 million grant from the State of Ohio. This unique collaboration, led by the Cleveland Clinic, draws on the strengths and clinical expertise of Ohio’s prominent healthcare institutions, along with industry and economic development partners to combat cardiovascular disease. Earlier this year, BioOhio and GCIC forged an active partnership focused on attracting companies to Ohio. The partnership also has BioOhio contributing to GCIC goals in formation, expansion and job retention of Ohio cardio-related entities.
On Thursday, October 16, BioOhio and BioJerusalem will meet in Beachwood, Ohio, to formalize a cooperative economic development partnership. Officials from both bioscience industry groups will sign a framework of cooperation agreement, which exemplifies a year’s worth of collaboration between an Ohio economic development delegation led by BioOhio and Israel’s BioJerusalem.
Goals of the international collaboration going forward include exchanging business development opportunities, facilitating bioscience co-location, creating tools for Ohio and Jerusalem businesses to connect and communicate, and encouraging research and medical institutions in Ohio and Jerusalem to collaborate more frequently.
The signing of the “Global Partnership Towards Innovation” Agreement is the first economic development agreement between the State of Ohio and Jerusalem. Over 30 signatories are included in the agreement, including biomedical companies, institutions and economic development agencies representing all regions of Ohio.
BioJerusalem Executive Director Shirley Kutner, Ph.D, and Daniel Kutner, Consul General of Israel to the Mid-Atlantic U.S. will represent Jerusalem at this important signing. BioOhio Vice President John Lewis and City of Beachwood Mayor Merle Gorden have been selected to co-chair the agreement on behalf of Ohio.
“This Framework of Cooperation is very exciting for both BioOhio and BioJerusalem, Ohio and Israel,” said BioOhio Vice President John F. Lewis, Jr. “Because strengths of both communities will be focused on creating technology and clinical partnerships, workforce exchanges, and business collaborations, basically creating more jobs in Ohio and around Jerusalem.”
With a broad and deep industry base, Ohio is home to more than 1,000 bioscience-related organizations, from emerging companies like CleveX to Fortune 500 pillars like Procter & Gamble and Cardinal Health. The commercial bioscience sector contributes nearly 50,000 direct jobs to Ohio’s economy.
There are more than 100 life sciences companies in Jerusalem ranging from entrepreneurial start-ups to more established biotechnology, medical device and pharma companies, including Teva, Rafa Laboratories, Sigma-Aldrich, Medinol, Omrix Pharma and others. Thirty-five percent of Israel’s biotechnology companies are located in Jerusalem.
BioJerusalem is an initiative of the Jerusalem Development Authority, created to help fuel the economic development of Jerusalem, Israel by leveraging the vast life sciences resources available in the city.
BioOhio’s Third Annual Ohio Bioscience Career Fair attracted nearly 250 job seekers to Worthington on September 30 eager to meet with 21 recruiting bioscience companies.
“Last year just over 180 candidates attended,” commented BioOhio’s Bill Tacon. “So we’re very pleased with a 40% increase and the fact that we once again had 20-plus bioscience companies seeking additional talent.”
Job seekers ranged from current college students seeking internships to recent graduates and current bioscience professionals from Ohio and surrounding states. Exhibiting companies included: Abbott Nutrition; Aerotek Scientific; Alkermes; Amylin Pharmaceuticals; AtriCure; Battelle; Ben Venue Laboratories; Camargo Pharmaceutical Services; CAS; Charles River Laboratories; Cincinnati Children’s Research Foundation; Diagnostic Hybrids; Eurand; Kelly Scientific Resources; NAMSA; PharmaForce; Prologue Research International; The Research Institute at Nationwide Children’s; Ricerca Biosciences; Roxane Laboratories; and WIL Research Laboratories.
Company recruiters were pleasantly surprised by the quantity and quality of talent the event attracted.
Camargo Pharmaceutical Services’s President & CEO Ken Phelps said the number of qualified applicants exceeded expectations. “We are already interviewing and hope to make multiple offers by month’s end,” he added. “This career fair is a very efficient recruiting tool.”
Ricerca COO Leigh Berryman agreed. “It was surprising that so many people new to the workplace with so much energy, enthusiasm and skill could be brought together in one place,” he said. “We have literally tens of potential new job hires with whom we will be following up as a result of a single day’s activity.”
Biomanufacturing in Southwest Ohio
In partnership with Sinclair Community College and Raymond Walters College, BioOhio submitted an NSF-Advanced Technological Education (ATE) grant proposal entitled “Southwest Ohio Biomanufacturing Educational Consortium” on October 3. News on the award should come in March 2009.
The initiative calls for $646,583 over three years for the implementation of advanced manufacturing courses at these colleges and an awareness campaign targeting high school and college students, as well as their parents and counselors. Industry partners include Amylin, Alkermes, Eurand, Meridian Bioscience, Leis Medical, and Enable Medical. Greater Cincinnati and Miami Valley Tech Prep Consortiums will assist in career awareness and outreach efforts.
Educating Biotechnicians for Future Industry Needs
BioOhio Sr. Director of Workforce & Education Bill Tacon was one of 50 workforce experts to participate in the invitation-only “Educating Biotechnicians for Future Industry Needs” conference, held in Scottsdale, Arizona in late April. A full report with recommendations can be downloaded at www.aacc.nche.edu/ateprogram under “Publications”.
Written by Colby & Company
Ohio Department of Development Releases Strategic Plan
In early September, the Ohio Department of Development launched its strategic plan, “Ohio, Home of Innovation and Opportunity”. This plan was developed with significant input from BioOhio with the purpose of growing the income of Ohioans, creating and retaining Ohio jobs, and expanding productivity through innovation.
The first goal of ODOD’s strategy is to market Ohio as a great state in which to live and work. This is to be achieved through a marketing strategy, calling potential investor’s attention to the diverse regional economies and assets that Ohio has to offer, the broad portfolio of technologies and globally competitive products and services, and redesigned business climate that enables companies to grow globally. This initiative dovetails with BioOhio’s business attraction model that has proven successful in attracting and growing companies large and small.
Linking and leveraging Ohio’s inventive past with an innovative future is the second objective. Ohio is historically an innovative state with strong industries that will continue to grow with the proper incentives. ODOD plans to establish a targeted industry approach to economic development, focusing on industries best suited to Ohio’s established areas of expertise.
Ohio’s Statewide Targeted Industries include: Advanced Energy and Environmental Technologies; Aerospace and Aviation; Agriculture and Food Processing; Bioscience and Bioproducts; Corporate and Professional Services; Distribution and Logistics; Instruments, Controls, and Electronics; Motor Vehicle and Parts Manufacturing; and Polymers and Advanced Materials.
ODOD also is strongly committed to the renewal and improvement of the Next Generation of the Third Frontier Program. Third Frontier is especially important to the success of the bioscience industry and BioOhio will be involved in discussions on how to best advance its continuation.
Retaining, advancing, and attracting the best workforce is the third priority in the economic development strategy. ODOD is developing a seamless, demand-driven, customized training system that will meet the demands of Ohio’s businesses and industries.
BioOhio will continue to provide a strong voice for the bioscience industry in implementing ODOD’s strategic plan, which is available at: www.development.ohio.gov/strategicplan/.
Voinovich Provides Tax Relief for Tech Companies
Sen. George Voinovich sponsored an amendment to The Economic Stimulus Act of 2008 that provides a 50% bonus depreciation deduction for depreciable property placed in service before the end of 2008, to give companies a strong incentive to increase their capital investments during the current slowdown. The Voinovich amendment allows “loss companies” the option of claiming their accumulated alternative minimum tax (AMT) and research and development (R&D) tax credits in lieu of the forgone bonus depreciation amount for making new capital investments. This provision is in effect for property purchased and placed in service after March 31, 2008, but before January 1, 2009.
In practice, the Voinovich amendment means that a taxpayer is entitled to utilize AMT and R&D credit carryovers in an amount equal to the foregone first-year bonus depreciation amount multiplied by 20% (i.e., the corporate AMT tax rate), but capped at the lesser of $30 million or 6% of the taxpayer’s pre-2006 credit carryovers.
In late July, the Senate Small Business Committee reported on the Small Business Innovation Research/Small Business Technology Transfer (SBIR/STTR) Reauthorization Act of 2008. The following provisions were included.
The reported act calls for the SBIR/STTR programs to be reauthorized for 14 years. It includes a compromise on the issue of the participation of companies majority owned and controlled by multiple venture capital companies in the SBIR program, allowing NIH to award up to 18% of its SBIR dollars to companies majority owned and controlled by multiple VCs. The other ten SBIR agencies could award up to 8% of their SBIR dollars to this class of firms.
Phase I award levels would increase from $100,000 to $150,000 and Phase II award levels would increase from $750,000 to $1 million. No federal agency will be allowed to exceed the award amount by more than 50%.
Other Federal Issues
BioOhio continues to urge support for HR 1956, the Patient Protection and Innovative Biologic Medicines Act introduced by Rep. Jay Inslee (D-WA) and HR 5629, the Pathway for Biosimilars Act, introduced by Anna Eshoo (D-CA) and Rep. Joe Barton (R-TX). Both are pro-patient and pro-innovation folllow-on Biologics bills that will not hurt our industry.
In September BioOhio proudly represented and promoted Ohio at the Annual MedTech Conference – AdvaMed 2008 with an exhibit booth and numerous partnering forum appointments. This year, 1,406 attendees arrived in Washington DC from 35 states and 21 countries. BioOhio is a state affiliate of AdvaMed, the advanced medical technology association.
Biomedical Career Opportunity at Ohio Dept. of Development
Our friends at the Ohio Dept. of Development have asked BioOhio to communicate a Biomedical Program Administrator job opening. In short, this position manages the BRCP program, bio-related Wright Centers, and upcoming bio-related Wright Projects. For more information, email Anthony.Howard@development.ohio.gov.
New member roll call
BioOhio welcomes and thanks the following members who have come on board since late July:
- Enlumin Consulting
- HDR Co.
- Avantec Technologies
- Biotechnology Consulting Solutions
- Cell Signals
- CRB Engineers
- Charles River Laboratories
- Offenberger & White
- T. Leland Seeger & Associates
- Ausio Pharmaceuticals
- BioControl Medical
- CL Solutions
- Curragh Chemistries
- Danfoss AquaZ
- New Product Innovations
- NovelMed Therapeutics
- P2D Bioscience
- PDS Biotechnology
- Siloam Biosciences
- Strategic Regulatory Consulting
- Surgical Energetics
- Tursiop Technologies
- Ars Clinica
- Global Language Solutions
- Maureen Beveridge
- Matt Wiencek
- Lynn Troyer
- Jeffrey Muller
- Peter Constantino
View the full member list here. BioOhio is Ohio’s only statewide bioscience membership and development organization. To learn more about membership, check this out or call 614/675-3686, x1004.
New Discounts for Members
BioOhio is offering its members a new benefit that may generate significant cost savings while supporting your efforts to recruit and retain talent. In conjunction with the Biotechnology Industry Organization (BIO), BioOhio now offers a comprehensive employee benefits insurance and solutions program through a partnership with Wells Fargo. BioOhio members are entitled to preferred BIO program pricing from leading insurance carriers and liberalized underwriting and enhanced coverage options, among other benefits. To learn more about this and other cost-saving programs, visit www.biobusinessolutions.com/oh.asp.
NE Ohio Bioscience Job Fair & Career Connection on November 5, 2008 at Lakeland Community College, Kirtland. In conjunction with the Job Fair, Lakeland also will host at Linus Pauling Biotechnology Symposium. Sponsored by BioOhio and BioEnterprise. For more information: www.lakelandcc.edu/biosciencejobfair/6th Annual Medical Innovation Summit, November 10-12, 2008 at InterContinental Hotel, Cleveland. Cleveland Clinic’s Medical Innovation Summit provides an unrivaled perspective on the newest medical technologies and the financial drivers behind those innovations. For more information: http://www.clevelandclinic.org/innovations/summit/
For more details on these and other Ohio bioscience events: www.bioohio.com/news/Events-Calendar.aspx