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THE ST. LOUIS BIOBELT
ANNOUNCES FOUR MAJOR INITIATIVES TO ATTRACT, RETAIN AND GROW START-UP
BIOTECH COMPANIES
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PFIZER,
SOLAE & BIO VENTURE FORUM CHOOSE ST. LOUIS BIOBELT
Long known as the home of global plant and life science leaders
like the Monsanto Company, Sigma-Aldrich and biomedical research
powerhouse Washington University, the St. Louis region or as it
has been dubbed, “The BioBelt—the Center of Plant and Life Sciences,”
is well along in launching four major initiatives designed to position
the region as a “location of choice” for start up and evolving plant
and life science companies.
DR. WILLIAM DANFORTH
chairman,
Coalition for Plant & Life Sciences |
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In recent weeks, entrepreneurial life sciences companies Pfizer
and Solae have selected St. Louis as the focal point for their biotech
operations. Additionally, the Biotechnology Industry Organization
(BIO) just last week announced that St. Louis has been selected
to host the BIO MidAmerica Venture Forum in 2004, due in large part
to the region’s critical mass of venture capital and life sciences
start up companies.
The four civic initiatives, which are designed to provide an expanded
physical infrastructure for start up and evolving biotech companies,
as well as the ongoing venture capital necessary to foster their
growth, announced in St. Louis are:
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Technopolis, a 1,000 acre urban advanced technology research
district.
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A suburban research park adjacent to the Donald Danforth
Plant Science Center consisting of up to 180,000 square
feet of commercial, multi-
tenant office and wet laboratory space. The initial phase
of the project will consist of 60,000 square feet.
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A $5 million Commercialization and Tech Transfer Center
to provide proof-of-concept funds for early stage technologies
and a companion $12.5 million pre-seed venture capital
fund focused on the St. Louis region to complement the
$280 million already raised to back early stage life science
companies in the St. Louis region.
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Plans for a new St. Louis-based later stage “Fund
of Funds.”
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According to
Dr. William H. Danforth, chancellor emeritus of Washington University
and the chairman of St. Louis’ Coalition for Plant and Life Sciences,
“The St. Louis region is rapidly building a reputation as a global
center for plant and life science research, investment and business
opportunity due in large part to a unique combination of private/
civic leadership that is dedicated to providing a vibrant environment
in which bioscience companies can grow and prosper.”
“Having seen substantial progress since the St. Louis Battelle Strategy
was completed in late 2000 in areas such as branding, early stage
venture capital, and life sciences facilities, these four new initiatives
will further cement that reputation by significantly expanding our
region’s commercial wet lab space and access to early and later
stage venture capital,” Danforth says.
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