Update on the State Biotech Race

The bioscience race is red hot, and expensive. That is the word from many corners. My friend Mike Ammann from Michigan passed along a couple interesting biotech stories, which I will share with you. Thanks Mike.

From the Boston Globe: "In the race to latch onto what could be the biggest growth industry of the new century, states across the country are putting together big-money programs to nurture biotechnology. Iowa Governor Tom Vilsack, for instance, has proposed a $50 million program to make the state a leader in bioengineered proteins. Don't look for Massachusetts to match it. With a $3 billion budget deficit looming next year, the administration of Governor Mitt Romney is looking at low-cost ways to help the state keep its lead in biotech."

Want to read more? Go here.

And from California: "With unfriendly financial markets forcing many biotechnology companies to shelve promising early stage projects, a program through the University of California is offering a means to help fund such work. UC Discovery Grants leverage funds from UC and the state of California with funds from private industry to conduct basic research. The program is accepting proposals for research from the biotechnology industry. In the past year the program, which proponents say is unique among examples of university-industry cooperation because of the way it directly ties university researchers to industry, funded $60 million in research in areas including telecommunications, digital media, electronics, information technology and life sciences."

Read more.