News Net

This week’s News Net brings bioentrepreneur news you may have missed from Spain, Pakistan and Florida. The stories highlight the role of government in encouraging the biotech sector—and the possible risks of doing so. How well does your government help to develop local biotech? Tell us in the comments.

 

  • A seminar for Spanish biomedical entrepreneurs was held earlier this month. Organized by the Fundación Rafael del Pino in Madrid, the event focused on investor involvement in biotech startups. Pedro Moneo, the director of Technology Review en español, said that “Globalization’s leaps are increasingly severe,” and added that if government itself does not act, “initiatives such as this one encourage competitiveness in the industry.” Read more here.
  • At another event, this time in Lahore, Pakistan, agriculture scientists, biotechnologists and farmers said that Pakistan desperately needs innovations like biotech to address challenges in agriculture to ensure sufficient food for a rapidly growing population. They urged the government to take concrete steps to bring improvement in country’s agriculture as it was imperative for economic growth of the country. More details from the Pakistan Observer.
  • In the US, the Orlando Sentinel reports on Florida’s almost $2 billion investment in biotech. Though critics are questioning the value of the investment, which includes matching funding from local governments, “Our eyes are still on the prize,” said Stephen Gardell, senior director of scientific resources at Sanford-Burnham Medical Research Institute at Lake Nona. Read the full article here.

The News Net

It’s time for a Net-ful of emerging biotech stories that you may have missed in the past few weeks. Happy weekend reading!

 

 

  • Via The Hindu, the Government of Karnataka has announced an expansion of its biotechnology finishing schools. The current 12 schools, which train graduates in skills required for the biotech industry, will be joined by new facilities in Rajasthan, Madhya Pradesh, Gujarat and Odisha. Previous graduates have all been placed in industry positions. More details here.
  • Sydney biotech Advanced Algal Technologies has signed a $100 million deal with China’s Fuzhou Xiangli Enterprise Management Consulting Co. Advanced Algal’s patented method of low-cost, high algal production process will be used to help reduce carbon dioxide emissions in manufacturing plants in China. Read more here.
  • Big Pharma is seeking to maximize its shrinking research budgets by looking at early-stage biotech, says Technology Review. Merck, Lilly and GSK, among others, have all invested in such companies recently. Here’s the the full article.

 

The News Net

The News Net returns with a slew of bioentrepreneur news from around the world. This week, Switzerland takes stock after a large shutdown; India, Malaysia and Australia all aim higher; and two new ways to fund your startup. Did we miss anything? Tell us in the comments.
 

  • Merck Serono’s recent decision to close up shop in Geneva has been a shock to western Switzerland. But according to swissinfo.ch, it may generate opportunities for emerging biotech companies. Read why here.

 

  • The Association of Biotech Led Enterprises (ABLE), the Indian biotech industry group, has called for setting up a Rs 5,000 crore (approximately $1.1 billion) biomanufacturing fund, as well as soft loans, larger special economic zones, tax incentives, a simplified regulatory framework and a biosimilars policy as keys to becoming a leader in the biopharma industry. Here’s the full article.

 

  • Technology Park Malaysia Biotech is inviting universities to commercialize their research, signing a memorandum of understanding with University Malaysia Pahang to focus on research into—among other native products—gaharu, a traditional oil used for making perfume, with a view toward commercialization. More details here.

 

  • Meanwhile, in Australia, Starpharma Holdings CEO Jackie Fairley thinks the government should make early-stage funding more attractive to investors, saying the industry would benefit greatly from incentives for investors in the form of tax breaks. Former Queensland premier Peter Beattie also recently urged investors to support emerging industries in the health and life sciences sector. Read more here.

 

  • Crowd funding isn’t just for creative types anymore. On the heels of Kickstarter’s success comes START.ac, a brand new crowdfund site focused squarely on tech startups. Read the Forbes article here.

 

  • Another new company, Gust, offers entrepreneurs a chance to submit funding requests to angel investors around the world. Since launching in September 2011, it currently boasts 35,000 investors on its platform with 185,000 entrepreneurs as registered users. Via Crain’s New York Business.

 

The News Net

 

As always, the Net trawls our inbox, newsfeed and timeline for the news you may have missed. This week: a European slowdown and a mini-boom in Virginia.

 

 

  • FierceBiotech reports disappointing 1Q numbers for European biotech VC. The 26 deals that raised 108 million euros represent a 16% decline in the number of deals and a 66% drop in cash. Read more here.
  • Is Charlottesville, Virginia poised to become the next biotech hub? With changes in the law to encourage entrepreneurship and a thriving base of 35 biotech companies, many people think so. Find out more in these two stories, here and here.

 

 

The News Net

The Net ends the week with catch-up reading from East Asia and Africa. As always, feel free to comment or ask questions below.
 

 

  • Biotech has entered the mainstream of Asian agricultural production, according to Pakistan’s News International. As part of the Sixth Pan-Asia Farmers Exchange Programme held at Subic Bay, the Philippines, representatives from nine Asian countries discussed the increasing adoption of biotech for enhancing agriculture production. Read more here.
  • Focus Taiwan reports on Vice President Vincent Siew’s remarks that China and Taiwan should increase exchanges in the field of biotech and work together to develop its potential benefits. Exchanges between medical professionals from both countries should be encouraged, he added at the opening of the 1st Cross-Strait Biotechnology Forum. Details are here.
  • The Nation opines that Kenya needs to back up its words with action when it comes to agbiotech. It cites Clive James, founder of the International Service for the Acquisition of Agri-biotech Application, who says that other than South Africa, Egypt and Burkina Faso, most of Africa has been slow to take it up, even though common wisdom suggests that all the countries that have commercialized biotech crops made the right decision.
  • However, things are looking up in Swaziland. The Swazi Observer notes that a new biotech park in Nokwane will eventually bring biotech advances to the public domain. Project manager Moses Zungu disclosed that a strategy is underway on the use of the park, especially how it will be linked with the other diverse sectors such as the University of Swaziland. Read the full article.

 

The News Net

As always, the News Net rounds up a selection of bioentrepreneur-focused news stories you may have missed over the past two weeks. Today’s catch includes help for startups in Chile, the US and UK.

 

 

  • Bloomberg Businessweek reports on the success of Start-Up Chile, started by the government in 2010 to boost local entrepreneurship. The audacious program gives $40,000 to startups led by foreign entrepreneurs to set up shop in Chile, no strings attached. Read about it here.
  • The Jumpstart Our Business Startups, or JOBS Act bill, recently signed into law by President Obama, expands funding options for small, fast-growing operations like biotech and tech companies. One provision allows companies to use crowd funding, a way for entrepreneurs to raise up to $1 million online from individual investors with minimal financial disclosure. Learn more here.
  • Finally, the UK government has announced the expansion of its £180 million “biomedical catalyst” fund to include later-stage companies as well as start-ups, a move welcomed by the biotech sector. The Scotsman has the details.

 

The News Net


In this week’s Net: a stem cell roadmap for India, more money for early stage biotech in Quebec and a word on the debate of the moment from Bruce Booth.

 

  • At a recent stem cell and regenerative medicine conference, India’s former president A.P.J. Abdul Kalam said the department of biotechnology and the Indian Council of Medical Research would soon come out with a roadmap for stem cell research and therapy. “They are evolving a road map for stem cell research through three areas—adult stem cells, umbilical cord stem cells, and embryonic stem cells.” More here.
  • According to the Montreal Gazette, Merck has partnered with two Canadian VCs to launch the Merck Lumina Biosciences Fund to invest in early-stage biotech firms in Quebec. The drugmaker is committing $35 million to the fund’s $50 million target. Read more here.
  • In Forbes, VC & blogger Bruce Booth gives his take on the hot topic of biotech business models: what’s in, what’s out and what’s dead. Find out what your “worldview” is here.

The News Net

For your reading pleasure, this week’s News Net brings in investment news from Russia, agbiotech in the Philippines and advice on handling your board from the hardest working VC in the blogosphere.

 

 

  • Government-owned RusNano is partnering with US venture firm Domain Associates on a $760 million initiative that will invest in about 20 life sciences companies and construct a pharma manufacturing center in Russia to produce next-gen therapies. The two groups plan to concentrate on viral infections, cardiovascular diseases, cancer and other afflictions. Read all about it here.
  • The Philippine Star reports on the commercial production of locally developed agbiotech products. Mature technologies developed by the University of the Philippines Los Baños include biofertilizers, enzymes, pesticides, animal probiotics, and plant disease diagnostic kits. Dig in here.
  • In Forbes, life science VC and Trade Secrets blogger Bruce Booth (https://blogs.nature.com/tradesecrets/author/bbooth) looks at what it takes to maintain a highly functional and productive board of directors – crucial for an early-stage biotech company. Read his tips here.  You can also follow him on Twitter.

 

The News Net

Caught in the Net this week are thoughts on the state of biotech in Taiwan and Parkistan, and a new stop on the biotech conference calendar.

Wong Chi-huey, president of Taiwan’s Academia Sinica, notes in Taiwan Economic News that Taiwan has lagged behind South Korea in the development of the biotech industry. For example, Seoul-based electronics behemoth Samsung has a dedicated biotech group that has partnered with two major US biotech firms to develop biosimilar drugs since last year. More of his thoughts can be found here.

The state of Pakistan’s life sciences industry was the subject of a talk organized by the South Asian Strategic Stability Institute. One of the speakers said Pakistan is a growing market for life sciences and biotechnology, and a country where these fields have great potential for beneficial social, economic and health impacts. Read more here.

San Francisco, Tokyo, London, Frankfurt…if your biotech conference schedule is getting a bit routine, add Borneo to your itinerary. While the inaugural Bio-Borneo conference, aimed at further exploring the bioeconomy of Borneo, has just ended, it will be an annual event, according to Deputy Science, Technology and Innovation Minister, Datuk Fadillah Yusof. Bio-Borneo 2013, co-organized by Malaysian Biotechnology Corporation and Sabah Development Authority, will be held in Kota Kinabalu. Read a conference recap here.

The News Net

Our roundup of news stories you may have missed includes strong words from an Indian pioneer, adding a dash of biotech to Kenyan schools and a peek into the world of DIY biotech.

 

  • Kiran Mazumdar Shaw, chairman of Indian biotech giant Biocon, has called on her government to move quickly to facilitate the growth of biotech. Her wishlist for startups includes a regulatory framework and access to seed money, perhaps through a stock exchange. Read the article here.

 

  • Participants at a biosafety workshop in Kisumu, Kenya, are calling for GMO crop production and biotech foods to be part of Kenya’s education curriculum. Educators say introducing Kenyans to the technology at a later stage in life may be to blame for widespread misconceptions. More here.

 

  • Finally, the HuffPo takes a look at the burgeoning DIY biotech movement, where hackers “operating in the near-empty spectrum between academia and big biotechnology companies” are pursuing exciting science with scavenged equipment and outsourced technologies. Check it out here.