Bioscience Research and Commercialization in Virginia
Virginia Population: 8 million (12 th largest in USA). Median Income: $61,000 (8 th in USA). Several of the most wealthy counties in USA. Technology Workers: 1 st in USA. Best State for Business by Forbes, CNBC, etc. 2011 Venture Capital: 4 th in USA (CA,MA,NY) Unemployment Rate: 5.6% (7.9% USA)
Bioscience in Virginia Companies: 250-300; Average size: 6 employees Direct Employees: 20,000; Indirect Employees: Approximately 80,000 Value of Products and Services: $13+ billion (2006) Products Developed: 77; Products on the Market or in Trials: 50+ Bioscience research = 52% of all academic R&D in Virginia Ranked #8 for bioscience VC investment 2011 ($111 million) (up 264%over 2007) Ranked #11 in bioscience academic degrees in 2008 2009: Virginia researchers initiated more than 400 clinical trials of new medicines (cancer, heart disease) Number of bioscience companies formed and bioscience employment outpace national and state averages for all industries 2001-11 Sources: Archstone, MedTRACK, Moneytree 2011, BIO/Battelle Reports 2010,2012, VABIO
Bioscience in Virginia
Virginia Bioscience Clusters Fly-over Southwest and Valley SRI Center for Advanced Drug Research with James Madison University Merck, Teva, Cadence, Abbot, Novozymes Virginia Tech Fralin Life Science Institute VT - Wake Forest School of Biomedical Engineering and Science Virginia Bioinformatics Institute VT Carilion Research Institute in Roanoke Spin off companies /VT CRC Charlottesville University of Virginia UVA Innovation Biomedical Innovation Fund Dozens of spin off companies, and entrepreneurial bioscience community Collaborations with other research universities and private sector statewide I6 Virginia Bioscience Health Research Corp. (VBHRC)
Virginia Bioscience Clusters Fly-over Richmond Virginia Biotechnology Research Park Health Diagnostic Laboratory, Inc. Virginia Commonwealth University School of Medicine Massey Cancer Center VCU Engineering School VCU Institute for Engineering and Medicine Pfizer, Boehringer Ingelheim Fareva, Intelliject Northern Virginia Howard Hughes Medical Institute at Janelia Farm George Mason University & Prince William Innovation Technology Park Inova Translational Medicine Institute VT Northern Virginia George Washington University Northern Virginia ATCC, Mediatech Corning, K2M Proximity to public science and federal regulators
20 th Anniversary Celebration of Bioscience in Virginia Join us! Boars Head Inn Charlottesville, VA May 2, 2013
Georgia Bio Georgia Bio's mission is to advance the growth of Georgia s life sciences industry and foster strategic partnerships that can create a healthier world. To accomplish this mission, Georgia Bio: conducts business and economic development activities advocates on behalf of the industry on public policy matters educates the public about the benefits of life sciences research and product development and provides a network for the exchange of ideas, information and opportunities.
Strategic Priorities Georgia Bio is a non-profit industry association whose strategic priorities are to: Improve the health of people, animals and the environment Expand the number of high paying, advanced technology jobs Enhance student achievement in science education
Largest Life Sciences Employers Alcon/Ciba Vision (Novartis) Merial (Sanofi) Ethicon/Noramco/Johnson & Johnson Quest Diagnostics UCB C.R. Bard Covidien Quintiles Porex Dendreon American Red Cross CryoLife Doctors Laboratory Laboratory Corp of America Elan Pharmaceuticals Caire/Chart Biomedical Eli Lilly/Elanco Immucor Kimberly-Clark Mikart Arbor Pharmaceuticals Elektra Siemens Healthcare Diagnostics Theragenics CSI Laboratories
Life Sciences Industry Impact in Georgia $17 billion economic impact 65,000 jobs $5.6 billion in salaries $550 million in state and local taxes
Major Institutes and Research Hospitals Children s Healthcare of Atlanta Emory Healthcare Emory University Georgia Health Sciences University Georgia Institute of Technology Georgia State University Grady Health System Harbin Clinic Mercer University Memorial University Medical Center Morehouse School of Medicine Northeast Georgia Medical Center Piedmont Healthcare The Shepherd Center University of Georgia U.S. Centers for Disease Control and Prevention (CDC) Yerkes National Primate Research Center
Major Non-Profits American Cancer Society American Partnership For Eosinophilic Disorders (APFED) Arthritis Foundation CDC Foundation CARE (Cooperative for Assistance and Relief Everywhere) The Marcus Foundation Robert W. Woodruff Foundation
University of Florida Office of Technology Licensing Where Science Meet Business www.otl.ufl.edu David L. Day State of the Southeast Southeast Venture Philanthropy Summit 2013
BioFlorida Snapshot >260 member organizations and growing 7 active regional chapters & 4 regional offices Annual Conference September 13-15, 2013 in Tampa, FL Expect 600+ attendees, 25% from outside Florida Produce 35+ member programs throughout the year State & federal advocacy to improve business climate Coordinate member visits to bioscience employers Go-To resource for industry data building industry clearinghouse Connect members to capital, partners, services, career center
Where is Florida s Cluster?
Florida s Growth Rate Growth Rate among Top 10 Bioscience Employment States 2001-2010 #1 medical device companies #1 drugs & pharmaceuticals companies & employment Growth Rate among Top 10 Bioscience Employment States 2007-2010 (Recession) #1 medical device companies #1 drugs & pharmaceuticals companies Source: Battelle/BIO State Bioscience Industry Development 2012
Florida s Growth
Florida s Growth Venture Capital still relatively small, but is trending in a positive direction well ahead of national trends. Significant exits now leading to entrepreneurial environment in Florida and throughout the Southeast U.S. NIH funding increasing but still small in comparison to size of industry
Florida s Growth Bioscience Employment Change by State, 2001 10 Source: Battelle/BIO State Bioscience Industry Development 2012
North Carolina Sam Taylor President, NCBIO State of the Southeast Southeast Venture Philanthropy Summit 2013
North Carolina Economic Impact 237,665 jobs $59 billion in North Carolina business volume $1.92 billion in taxes generated for state and local government A thriving industry with more than 500 companies State of the Southeast Southeast Venture Philanthropy Summit 2013
Major North Carolina Companies Biogen Idec BD Catalent Cook Medical GlaxoSmithKline Eisai Grifols INC Research LabCorp Merck Novartis Novo Nordisk Pfizer PPD PRA International Quintiles Teleflex United Therapeutics N O R T H C A R O L I N A B I O T E C H N O L O G Y C E N T E R
North Carolina Life Science Employment 22% 4% 13% 29% 32% Drugs & Pharmaceuticals Research, Testing, & Medical Labs Bioscience-related Distribution Medical Devices & Equipment Agricultural Feedstock & Chemicals N O R T H C A R O L I N A B I O T E C H N O L O G Y C E N T E R
Location Quotient, 2010 North Carolina Employment Growth & Specialization Quadrant 2 Transitional 2.25 Quadrant 1 Stars New Jersey Massachusetts 1.75 Indiana Illinois Pennsylvania 1.25 California North Carolina -15% -10% -5% 0% 5% 10% 15% 20% 25% 30% Florida 0.75 New York Texas 0.25 Quadrant 3 Divergent (0.25) Employment Change, 2001-2010 Quadrant 4 Emerging Potential N O R T H C A R O L I N A B I O T E C H N O L O G Y C E N T E R
North Carolina Academic Research Assets Duke University Carolina s Medical Center James G. Cannon Research Center East Carolina University North Carolina State University University of North Carolina at Chapel Hill Wake Forest Baptist Medical Center N O R T H C A R O L I N A B I O T E C H N O L O G Y C E N T E R
North Carolina Academic R&D Spending 2007 2008 2009 2010 Life Science Field ($1,000s) % ($1,000s) % ($1,000s) % ($1,000s) % Agricultural Sciences $91,534 6% $103,380 7% $101,489 6% $98,236 5% Bioengineering/ Biomedical Engineering $22,853 2% $22,374 1% $26,096 2% $29,437 2% Biological Sciences $391,715 27% $509,952 34% $521,898 32% $548,853 29% Medical Sciences $913,685 63% $834,304 55% $925,154 56% $1,095,961 58% Other Life Sciences $41,767 3% $47,408 3% $72,513 4% $115,482 6% Total $1,461,554 $1,517,418 $1,647,150 $1,887,969 Source: Battelle TPP N O R T H C A R O L I N A B I O T E C H N O L O G Y C E N T E R
North Carolina Biotechnology Center We make connections... Research Support Technology Transfer Support Company Loans Intellectual Exchange Groups Centers of Innovation N O R T H C A R O L I N A B I O T E C H N O L O G Y C E N T E R
Overview of the Southeast Region s Life Sciences Industry Jennifer H. Sherer Southeast BIO State of the Southeast Southeast Venture Philanthropy Summit 2013
Solid Foundation: Higher Ed Life Sciences R&D Expenditures TN $580,313 VA $565,969 AL $591,580 SC $339,244 FL $1,436,722 NC $1,857,885 GA $729,718 Source: National Science Foundation Higher Education Research and Development: Fiscal Year 2010 State of the Southeast Southeast Venture Philanthropy Summit 2013
Resident Capital Sources to Fuel the Company Pipeline Pre-Seed & Seed Capital Florida Inst. for Comm. Public Research, Georgia Research Alliance, Innova (Tennessee), North Carolina Biotechnology Center, SCRA Technology Ventures, Center for Innovative Technology (Virginia) Angel Capital Auburn/Huntsville/Gulf Coast Angel Networks, Upstate Carolina Angel Network, New World Angels, Startup Florida, Tamiami Angel Fund, Atlanta Technology Angels, RTP Capital, Wilmington Investor Network, Piedmont Angel Network Venture Capital Harbert Venture Partners, Hatteras Venture Partners, H.I.G. BioVentures, InterSouth Partners, MPM Capital, Pappas Ventures State of the Southeast Southeast Venture Philanthropy Summit 2013
Southeast Venture Funding Mirrors National Trends Life Sciences Venture Capital Funding (2008-2012) Trend Breakers: 110% 100% 90% 80% Southeast National Florida: Medtech funding has increased significantly since 2008 to $54M in 2012 70% 60% 50% 2008 2009 2010 2011 2012 Virginia: Biotech funding has increased significantly since 2008 to $107M Source: PricewaterhouseCoopers MoneyTree Historical Trend Data Southeast: Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, Virginia State of the Southeast Southeast Venture Philanthropy Summit 2013
Established Company Presence & Track Record of Product Development State of the Southeast Southeast Venture Philanthropy Summit 2013
Life Sciences in the Southeast: Industry Highlights 1600+ biotech/pharma and medtech companies employ ~83,000 people 1 Bioscience industry overall employs 259,000+ in 13,392 companies 1 Numerous research institutes e.g. ACS, Burnham Institute, CDC, HudsonAlpha Institute, Max Planck Florida Institute, Oak Ridge Nat l Laboratory, RTI International, Scripps Florida, Virginia Biotechnology Research Park, Yerkes National Primate Research Center North Carolina has one of the world s highest concentration of CROs Southeast states consistently in the highest ranks for best places to do business CNBC s America s Top States for Doing Business 2012: VA (#3), NC (#4), GA (#9) Raleigh-Durham ranks #4 among US established life sciences clusters behind only Boston, San Diego and San Francisco Bay 2 Florida (#18) recognized as becoming a major life sciences hub, Atlanta (#21) an emerging cluster Sources: 1 Battelle/BIO State Bioscience Industry Development 2012 Report; 2 Jones Lang LaSalle Life Sciences Cluster Report 2012 State of the Southeast Southeast Venture Philanthropy Summit 2013 Southeast: Alabama, Florida, Georgia, North Carolina, South Carolina, Tennessee, Virginia