Virginia Gov's Amendments Would Restore Funding for Research, Life Sciences

While touting broad support from lawmakers for his 2012 legislative agenda during the regular session, Gov. Bob McDonnell also expressed concern about several economic development and education initiatives left out of the 2012-14 biennial budget passed by lawmakers during a special session that ended last month. Just in time for the deadline, Gov. McDonnell submitted $43.9 million in budget amendments, which include restoring funds for research, life sciences and teacher recruitment.

National Bioeconomy Blueprint Calls for More Research Prizes, Collaborations

Last week, the White House released a comprehensive national strategy to guide federal investments and collaborations with the private sector in the life sciences. The National Bioeconomy Blueprint identifies five strategic objectives that will inform administration efforts to boost the bioeconomy. Key among these objectives is the expansion of foundational, cross-disciplinary research, which will require improved funding mechanisms that are flexible enough to support many kinds of collaborations and that encourage high-risk/high-reward research.

Georgia Lawmakers Pass Measure to Enhance Tax Credits, Boost Research Funding

Lawmakers last month approved a $19.3 billion state budget for FY13, which includes funding for many of the recommendations from a task force convened by Gov. Nathan Deal to enhance the state's innovation economy. Specifically, the budget boosts funding for the Georgia Research Alliance (GRA) to recruit researchers and allocates $5 million for cancer-related research. The legislature also passed a measure expanding the Georgia Jobs tax credits and R&D tax credit.

Advocates Say New Law Will Encourage Research Partnerships in Arizona

Life sciences advocates in Arizona are celebrating the passage of HB 2272, a measure to tighten open records laws that require details of intellectual property be disclosed. Passage of the legislation will protect against the loss of current research contracts or the possibility of missed opportunities due to concerns over the state's previous law, according to a statement by the Arizona Bioscience Industry Association (AZBio).

Cleveland Clinic Innovations Receives Unexpected $10M Donation

West Virginia coal-mining and farming businessman James C. Justice II confirmed a $10 million donation to Cleveland Clinic Innovations this week, according to an article in the Cleveland Plain Dealer. The gift will be used to establish a chair in medical innovation, to fund patent applications and to provide space and seed funding to early stage businesses. Inspired by the move, Cleveland Clinic Innovations Chairman Thomas Graham announced that he will contribute an additional $1 million for patent applications.

$1 Billion Initiative Calls for Innovations to Deliver High-Quality Medical Care and Save Money

President Obama announced the Health Care Innovation Challenge — a $1 billion initiative to support the most compelling new ideas to deliver better health, improve care and lower costs to people enrolled in Medicare, Medicaid and/or the Children's Health Insurance Program (CHIP). The objectives of this initiative are to:

Three Groups Invest $30M to Launch St. Louis Bioscience Organization

Building on a decade of work by the Coalition for Plant and Life Sciences, BioSTL launched last month to provide funding and support for emerging bioscience companies. The group also will dedicate resources such as training and recruiting entrepreneurs and increasing venture capital investment to collectively benefit partner organizations working to increase bioscience activity in the region. Washington University in St. Louis, BJC HealthCare, and the St. Louis Life Sciences Project each committed $2 million per year for five years, totaling $30 million to launch the effort.

White House Seeks Input on Bioeconomy Plan

The Office of Science and Technology (OSTP) is soliciting advice on how to best stimulate job creation through investments in biological research and development. In a new Request for Information (RFI), OSTP asks for input on national challenges related to biotechnology research, eduction, entrepreneurship and partnerships. Submissions, which are due by December 6, 2011, will help shape the administration's bioeconomy strategy.

NC Accelerator to Help Launch Life Science Startups

The North Carolina Innovation Fund has announced plans to support a new accelerator that would promote life science technology transfer from the state's universities. Published reports indicate that the accelerator would launch later this month and focus on companies developing biopharmaceutical therapeutics, diagnostics and medical devices. Participating startups could receive capital investment from the accelerator's associated funds.