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This issue of Commerce Magazine is special from several perspectives: first, biotechnology is the focus of this month’s issue; second, it is being published in conjunction with the annual international meeting of the Biotechnology Industry Organization in Philadelphia, June 19-22 for special distribution to the anticipated 20,000 attendees at BIO; and third, the June issue also includes the “State of the St. Louis Region’s Venture Capital Industry,” providing in-depth insights into the $816 million in venture capital raised by St. Louis technology firms in recent years.
We’re pleased to report that the St. Louis BioBelt: Center for Plant and Life Sciences is fast becoming a nationally and internationally recognized name in this growing industry. Greater St. Louis already lays claim to roughly 390 plant and medical science companies that employ over 22,000 people here. Our region is also beginning to emerge as a hotspot for “growing” biofuel.
The biotech business in our region currently has an annual economic impact of over $10.5 billion. With 17 million square feet of high-tech research space, and more bricks stacked every day, these and other less visible endeavors put us a whisper behind the top tier, long-established biotech centers in the nation.
In our cover story this month we visit with Scottish-born Hugh Grant, chairman, president and CEO of global biotech leader Monsanto. Monsanto had a second quarter net income of $373 million—mushrooming 142 percent over last year’s fiscal quarter. Monsanto’s Roundup Ready soybeans, corn and cotton contain the trait for “herbicide tolerance,” which offers a larger yield for farmers and less need for pesticides.
Also in this month’s issue, writer Christine Imbs speaks with the nationally renowned “Dean of Venture Capital” Peter Brooke. The Boston-based chairman of Advent International sees St. Louis at a similar take-off point in the life sciences to that of his own home town in the 1970s. Not only does Peter see immense life sciences potential in St. Louis, he’s invested in that promise with his recently created St. Louis-based $83 million Vectis Life Sciences Fund.
Without business sense, communication skills, development savvy or the ability to team-build, good science languishes, writes St. Louis Commerce writer, Bill Beggs Jr. In this month’s issue, we visit the transformation that has taken place in our community over the past several years as we explore what the rapidly emerging St. Louis BioBelt industry cluster is all about, in a review of a recent “report card” on St. Louis’ BioBelt activities by Dr. Walt Plosila of the Battelle Memorial Institute.
And, we highlight a local law firm that has flourished in the biotechnology sector. PatentRatings, LLC, a leading patent research and rating service, in March scored the Senniger Powers firm second in the nation for its 2004 patents in the biotech arena.
Finally, in the spotlight this month, is Michael Neidorff, chairman of the Centene Corporation, a major player in the Medicaid managed care industry. A remarkable man, Neidorff, 61, maintains that excellence is something you work toward but never fully achieve. Mike chairs one of St. Louis’ fastest growing headquarters companies.
We hope you enjoy this issue of St. Louis Commerce. If you have some feedback to share, or story ideas to suggest, e-mail me at dfleming@stlrcga.org.
Cheers,
RICHARD C.D. FLEMING
President and Chief Executive Officer
St. Louis Regional Chamber and Growth Association
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