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It’s been another outstanding year for Colorado in
the highly competitive state rankings arena. FierceBiotech included Colorado in its top five regions targeting biotech companies.
Further, Colorado now ranks 8th in VC funding for biotech firms and 10th for medical device and equipment firms, as recently
reported by Genome Technology. Colorado’s venture capital success was vividly demonstrated when Boulder-based Clovis
recently launched with an impressive $145 million in start-up funding. Denver, CO, May 29, 2009 -- “It’s an exciting time to be a bioscience company in Colorado, and the state is continuing to
garner the national attention it deserves for its top-notch bioscience industry,” said John Collar, President and CEO
of the Colorado BioScience Association (CBSA), “FierceBiotech highlighted Colorado as one of its top five biotech regions,
and The Money Tree™ Report, recently released by Genome Technology, listed Colorado in its top 10 Venture Capital deals
for both biotech and medical device and equipment.”
Colorado’s success at attracting venture
capital was demonstrated earlier this month when Boulder-based Clovis Oncology, Inc. announced an impressive $145 million
in start-up funding at its company launch. Clovis is focused on acquiring, developing and commercializing innovative anti-cancer
agents in the U.S., Europe and additional international markets. The company is founded by former executives of Pharmion Corporation,
which was acquired by Celgene Corporation in 2008 for $2.9 billion.
“We are so very pleased
that the former Pharmion team has chosen to remain in the state and headquarter their new company here. With the experience
behind them and the success of the business model from Pharmion, the bioscience industry and Colorado will be keeping a close,
and proud, eye on this new start-up,” Collar says.
FierceBiotech Rankings
Colorado
was selected as a top five biotech region in the “Top 5 North American Regions Targeting Biotech Companies 2009”
special report from FierceBiotech in May. Each year, FierceBiotech reviews economic development reports and finds new initiatives
that will have a positive impact on the bioscience industry in that region, and in 2008 Colorado was named a top 5 region
along with Minnesota, Massachusetts, New York and Ontario.
FierceBiotech discussed the importance of having
Nobel laureate Tom Cech return to his practice at the University of Colorado at Boulder after ten years as president of the
Howard Hughes Medical Institute. The excitement behind Dr. Cech’s return to the state will foster talent and growth
within the bioscience industry, but the article pointed out that it will take more than talent to make this happen.
Quoting
from the FierceBiotech article: “And state lawmakers recognized that when they passed a bill last year that will fertilize
a nascent biotech cluster with $26.5 million in state money…Now, $26.5 million can't compare to the kind of
money that California, Massachusetts, Florida and others have already spent fostering biotech. But it is a cleverly designed
program that has real potential to help emerging biotech companies--as well as state researchers and institutions –
when they need it the most. Combined with a few more scientific recruiting coups, Colorado could start to realize its latent
potential.”
The full report and information about FierceBiotech is available at http://www.fiercebiotech.com/special-reports/top-5-regions-targeting-biotech-companies-2009
Genome
Technology/The Money Tree™ Report
Genome Technology’s 'BioRegion Outlook: Land-Grab End Games' report released
in May showcased the 2008 Venture Capital investments in biotechnology companies. Colorado found its way to the 8th spot in
VC funding for biotech firms and in the 10th spot for medical device and equipment firms, through data from The Money Tree
Report by PricewaterhouseCoopers and National Venture Capital Association, based on data by Thomson Reuter. In the fourth
quarter of 2008 the biotechnology industry secured two deals totaling $23.5 million. Three investments were made in the
medical device and equipment industry in Colorado, totaling $12 million. The venture capital index and information about
The Money Tree Report is available at https://www.pwcmoneytree.com/MTPublic/ns/index.jsp
About Genome Technology
The
Genome Technology Online website and a monthly magazine with print and digital editions - reaches a global community of active
scientists working in pharmaceutical and biotech companies, universities, and biomedical research institutions. Genome Technology
Online is a free Web service supported by advertising. Genome Technology Magazine is a free journal for qualified subscribers
and is supported by advertising. For more information visit http://www.genome-technology.com
About
Colorado BioScience Association
CBSA is a not-for-profit corporation providing services and support for Colorado's
growing biosciences industry. With more than 400 members, CBSA actively works to promote the growth of the industry by working
for a better business environment, grow the state's biotech workforce, fight for policies that support a strong bioscience
industry in the state and speak with a single voice on behalf of the industry. For more information, visit http://www.cobioscience.com
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Contacts:
Leah
Kientz, Director of Public Policy & Programming, Colorado BioScience Association - http://www.cobioscience.com - 303-592-4088,
lkientz@cobioscience.com
Maggie Chamberlin Holben, APR, Absolutely Public Relations – http://www.absolutelypr.com
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303-984-9801, maggie@absolutelypr.com
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