Greater Cleveland Sharpens Its Focus on
Stem Cell Research

Despite its controversial nature, the stem cell research race remains red hot. For a look at what Cleveland is up to in this area, click here and read a recent Cleveland Plain Dealer article discussing the "money hunt" to fund future stem cell research.

On a related note, speculation continues whether Athersys Inc., a Cleveland biotech company, will pack its bags and move southward to North Carolina's Research Triangle area. We would throw in our two cents worth on this situation. Hopefully Athersys will decide to stay and grow its base in the Cleveland area. Maybe we will get lucky and head off this move for now. How long will they stay? As we look across the country, we see economic development competition intensifying for high-tech companies like this. The tea leaves right now suggest that these types of companies will be very mobile in the future as they look to strengthen their global technology and market connections.

Our advice to Cleveland and any city aspiring to become a future bioscience hub is: 1) don't put all your eggs in one basket; 2) increase the breadth of your investments in bioscience startups, that is invest in several good ones; 3) assume that these companies will continue to be highly mobile in the future and therefore the game is to win more than you lose on an ongoing basis; and finally build working ties with other bioscience centers to head-off non-productive rivalry for these darlings.