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Biotechnology, Medical Device and Bioinformatics Firms From Washington, British Columbia, Oregon, Alberta and Montana Selected to Present March 21-22 in Seattle
The emerging companies highlighted at the 2005 BioWest conference that started Tuesday:
Biotech companies pitch their potential to investors – BioWest 2005., a two-day event that opens Tuesday, showcases firms in the Rocky Mountain region.
Most of the participants hail from Colorado, with others from Utah, Wyoming and Montana.
LigoCyte Pharmaceuticals of Bozeman, Montana Receives $4.6M NIH Biodefense Challenge Grant for Intranasal Anthrax Vaccine
"Securing this level of a competitive NIH award validates our anthrax vaccine approach and allows us to quickly move forward in our preclinical development,"
The new business will increase the size of Missoula’s budding biotech industry, and that bodes well for the area economy.
"It is remarkable, I think, that of the top 20 institutions receiving NIH grants and contracts in 2004, UM is the only one located in a state without a medical school," said Dean David Forbes. "Clearly, our scientists are a serious national — even international — force in the investigation of health issues."
Today, 40 states target biotechnology or life sciences for development, and all 50 states have technology-based economic development initiatives that are available to biotechnology companies.
There is the potential for the biotech industry to create hundreds of new jobs, all high-paying, so that does have an economic impact, O’Donnell said.
Sirna announced it was moving its headquarters to San Francisco because it needed to be closer to investment bankers, venture capitalists and buy-side analysts.
"What you’ve got is big for the community and big for Montana, but it also represents what we like about biotech in Montana," Schweitzer said. "You’re one of the wheels of the buggy and we need to keep you on. We’re not going to let you slip away."
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