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February/March 2006
President's Perspective | Tony Dennis, PhD
Last fall’s passage of Issue 1—“Jobs for Ohio”—is resulting in a major step forward for technology based economic development in Ohio and in the biosciences. The Department of Development will be issuing another cycle of RFPs for the creation of new Wright Centers and collaborative projects, as well as several new initiatives to enhance entrepreneurism in Ohio and to attract high-tech companies to the state.
As Ohio’s bioscience membership and development organization, Omeris has helped shape this agenda and our Board believes that the upcoming year will mark a watershed for “Bio in Ohio” as the state's current Wright Centers begin to bear commercial fruit and new projects are developed.
One of the most exciting aspects we are involved in is helping to drive the convergence of bioscience with other technologies, such as polymers and advanced energy systems, to accelerate innovation in the state. In addition, Omeris is helping lead the growing company attraction activity. With San Diego-based Amylin Pharmaceuticals announcing that their first manufacturing facility will be in West Chester, Ohio, we are well on our way to a record period of growth in the state’s company base through attraction and relocation. Capital acquisition has reached record levels, especially in northeastern Ohio and company formation rates remain high. Moreover, the “Ohio Means Business” campaign initiated by the Ohio Business Development Coalition is gaining momentum with outstanding advertisements in major business publications, including the Wall Street Journal.
The momentum continues to build in all areas and we look forward to a remarkable 2006.
'Bio in Ohio' goes to Chicago
Omeris to lead Ohio presence at BIO 2006 Convention
Less than 10 months after BIO 2005 in Philadelphia, the 2006 BIO International Annual Convention will be held in Chicago, the only Midwest location in the event’s history, April 9-12.
Omeris again is coordinating Ohio’s participation at the BIO Convention, with help from the Ohio Department of Development, Team NEO, the Columbus Chamber, and OARDC. In addition to a 400 sq. ft. “Bio in Ohio” booth (#803) in the massive exhibit hall, Omeris has positioned Ohio as a co-sponsor of the popular Welcoming Reception on Sunday, April 9.
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| Omeris President & CEO Tony Dennis (left) with BIO President Jim Greenwood at Columbus Business First |
The next night, Omeris and Omeris-member Squire, Sanders & Dempsey host the second annual “Ohio Night at BIO” reception. This invitation-only event on Navy Pier will feature remarks from Governor Taft, great food, live jazz, and a unique opportunity for out-of-state bioscience leaders to learn more about Ohio. To request an invitation, or call 614/675-3686.
The “Bio in Ohio” message in 2006 will focus on accomplishments. “From the graphics and LED newsticker at the booth to our presentations with out-of-state companies, we will be celebrating Ohio’s recent successes in bioscience,” said Schutte, director of Omeris corporate communications. “When you have AtriCure launching an IPO, Amylin Pharmaceuticals choosing Ohio for their first manufacturing plant, record VC investments in the Cleveland area, and 46 companies either starting-up or establishing presence in Ohio in ’05, you have to blow the horn.”
To promote the emergence of bioscience in the Midwest and BIO 2006, BIO President Jim Greenwood visits Ohio this week to meet with Omeris President & CEO Tony Dennis and talk to reporters and editors in Cleveland, Columbus, and Cincinnati.
“For Ohio bioscience professionals, this is probably the best year to see what the BIO Convention is all about,” Schutte commented. “We hope to see a lot of our members in Chicago.” For more information or to register: www.bio.org/events/2006.
Amylin Pharmaceuticals comes to Ohio
West Chester to be site of company's Exenatide LAR production
Just before 2005 turned to 2006, San Diego-based Amylin Pharmaceuticals selected West Chester, near Cincinnati, for its first-ever production facility. Eventually the facility will be used to manufacture a long-acting release formulation of exenatide, a product candidate in development for the treatment of type 2 diabetes.
Amylin announced it has acquired an existing 150,000 square foot building and 26 acres of land on Trade Port Drive in West Chester. It will upgrade the facility for the purposes of pharmaceutical production. The $70 million project is expected to create more than 50 jobs during its first three years of operation.
“Ohio's business climate, including its recent tax reform was a favorable influence on Amylin's decision to locate in Butler County,” said Ginger L. Graham, President and CEO of Amylin Pharmaceuticals. “Along with the industry group Omeris, the local and state agencies really have collaborated to make this an easy choice for Amylin.”
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| Amylin President & CEO Ginger Graham speaks at West Chester ribbon-cutting |
The new Amylin facility also is strategically located near its technology partner Alkermes, which operates an expanding manufacturing plant in Wilmington.
On February 6, Amylin hosted a ribbon-cutting ceremony in the building they plan to expand. Graham celebrated Amylin’s arrival with Lt. Governor Bruce Johnson, Butler County officials, and dozens of Ohio bioscience leaders.
Ohio was in competition with Kentucky, North Carolina, Massachusetts and California for the project, which was aggressively pursued by the Ohio Department of Development and local officials. In addition to local incentives, ODOD offered more than $3 million in incentives, including tax credits and exemptions and grants for machinery, equipment and training. Amylin will also benefit from Ohio’s new tax structure, which is eliminating taxes on tangible personal property and profits, reduces personal income tax by 21% and exempts taxes on sales to destinations outside Ohio.
“We are pleased to welcome Amylin to the growing list of elite pharmaceutical and biotechnology firms expanding or relocating to Ohio,” said Tony Dennis, president & CEO of Omeris, Ohio’s bioscience development organization. “We think Amylin’s expansion in Ohio is a harbinger as well as a continuing validation of Ohio’s bioscience value. The global bioscience and pharmaceutical industries have realized that Ohio presents a unique and ideal environment for growth.”
The Amylin announcement follows another significant Ohio bioscience business achievement in the Greater Cincinnati area. AtriCure, maker of soft tissue surgical devices, launched an IPO in August, issuing 4 million common shares with gross proceeds of $49.8 million.
BIO Mid-America VentureForum coming to Cleveland, September 25-27
The Biotechnology Industry Organization (BIO) and Omeris will host the BIO Mid-America VentureForum in Cleveland at the InterContinental Hotel, Sept. 25-27.
The fourth annual BIO Mid-America VentureForum is the largest Midwest bioscience investor and partnering forum, bringing together privately held bioscience companies, venture capitalists, academic institutions, government groups and executives from the pharmaceutical, chemical and agribusiness industries. Biotech and medical device companies—predominantly from the Midwest—seeking seed to late-stage funding will present business plans to venture capitalists and potential partners from across the nation.
Each year, the BIO Mid-America VentureForum brings the Midwest’s growing bioscience industry to the attention of a national investor and industry audience.
"The Mid-America VentureForum is an increasingly important event for showcasing the outstanding emerging companies rising out of the investment-underserved Midwest,” commented Omeris President and CEO Tony Dennis. “This year's meeting again will showcase companies that are globally competitive, and we are pleased that Ohio, one of the country's fastest growing bioscience regions, was chosen to host the event.”
According to the Midwest Health Care Venture Investment Report released by BioEnterprise, an Omeris affiliate, Midwest health care startups reported $550 million in investments in 2005. Based on reported financings, Minnesota, Ohio and Missouri are top-ranked in the Midwest, with respective totals of $151 million, $86 million, and $80 million invested.
“The Midwest has a high concentration of innovative life sciences companies, especially in the medical device field,” said BIO’s Manager of Business Development Candace Eastman, “and the BIO Mid-America VentureForum is the single largest event bringing together dozens of the best companies from this region. The presence of established medical and research institutions and a robust biotech and medical device industry make Ohio well suited to support this event.”
In addition to company presentations, the conference includes plenary sessions and workshops covering current issues in the bioscience and financial communities. BIO Mid-America also provides ample opportunities for networking and relationship building. Online registration will be available in April.
The BIO Mid-America VentureForum is sponsored by BIO, Omeris, and eight other Midwest state biotech associations.
Promoting Ohio's bioscience assets and infrastructure around the world
Continuing our energetic, ongoing effort to raise the global awareness of Ohio’s cardiovascular, oncology and agricultural biotech strengths, Omeris focused on Germany and China in the latter part of 2005.
Germany
In October 2005, Omeris promoted Ohio’s exciting bioscience related assets at Biotechnica, Europe’s largest bio-related exhibition, in Hannover, Germany. In partnership with Governor Bob Taft’s European business mission, Omeris met with more than 51 European-based companies over a four-day period.
Ohio’s newly reformed tax code gives us a powerful advantage to more effectively market Ohio as a great place to do business and was well received by the Europeans.
Omeris organized visits with Ohio Department of Agriculture Director Fred Dailey to Germany’s Bioenergy village at Jühnde, where the entire city is powered on biomass. This was a practical example of attainable energy independence through the use of biotechnology, something in which ODA is particularly interested.
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| Bio in Ohio Team at Biotechnica (l to r), Mark Rickel, Nicci Crocker, Catharina Maulbecker, Kirk Merrit, Governor Bob Taft, John Lewis, Tom Carton, Paul Zito, and Ed Burghard |
Ohio has more than 80 sister city relationships, and Omeris believes this is an opportunity to forge new global business collaborations. Columbus and Dresden, Germany, have a 15-year sister city relationship and Mayor Michael Coleman will be celebrating Dresden’s 800th year anniversary with a visit there in March 2006 that includes meetings with Boehringer Ingelheim and several emerging companies. In 2004, Omeris organized a bioscience-focused trip to Munich, with which Cincinnati has a long relationship. Former Cincinnati Mayor Charlie Luken was a key participant in those acitivities. Business presentations and company visits during that trip have spurred expansions by Girindus and Cognis, and others are under consideration.
Two German companies also have been written in as collaborators to Wright Center of Innovation (WCI) proposals submitted in December, as a result of meetings and understanding Ohio’s cardiovascular and cancer strengths. Should these proposals related to cancer and imaging be accepted, the companies intend to establish a presence in Ohio.
China
Thirteen Ohio companies and organizations accompanied Lt. Governor Bruce Johnson to Beijing, Shanghai and Wuhan, China this past December. Omeris was in tow to promote Ohio bioscience companies and products to Chinese companies, encourage Chinese firms to invest in Ohio, and help the state’s bioscience firms begin doing business in China. Omeris led meetings with a neuroscience institute, a drug-eluding stent company, a pediatric research institute, a bioengineering and pharmaceutical research park, a biomedical high tech incubator, and a medical device distribution company, among others. China is Ohio’s sixth-largest export market, accounting for $963 million in exports in 2004, according to the Ohio Department of Department.
66 companies interested in Ohio’s Cardiovascular and Cancer Assets
Omeris has established a process for identifying and attracting companies that match well with Ohio’s globally competitive bioscience asset base. During the last 18 months Omeris has led and validated a unique and differentiating targeted approach to accelerate the growth of our bioscience cluster. The results have been rapid; 66 companies, primarily from Europe and Asia have expressed an interest in locating in Ohio or partnering with Ohio bioscience entities.
The Omeris program is additive and complementary to the Third Frontier Project strategy of “build, grow, attract.” The 3FP has established strategies to build and grow Ohio companies, but this project bolsters the attraction and partnering element. It is a unique approach in that it is based primarily on assets in the business sector and not location, taxation, zoning or other traditional forms of economic development.
“In order for this strategy to work effectively it must incorporate an integrated statewide approach that promotes regional assets without pitting regions against each other,” explained Omeris Vice President John F. Lewis, Jr.
For more information about these activities or anything dealing with Omeris’ company attraction efforts,
or call 614/675-3686, x7.
Omeris welcomes new Board members
Last November, Omeris announced that Thomas F. Boat, MD, director of Cincinnati Children’s Hospital Research Foundation and chairman of the Department of Pediatrics at the University of Cincinnati, joined the organization’s Board of Trustees. In February, Mark E. Coticchia, Vice President for Research and Technology Management at Case Western Reserve University, also became an Omeris Board member.
Dr. Boat also is physician-in-chief and a member of the board of trustees of Cincinnati Children’s Hospital Medical Center. He served as interim Provost for Health Affairs of the University of Cincinnati in 2003. Cincinnati Children’s and the University of Cincinnati both are founding members of Omeris.
A pediatric pulmonologist by training, Dr. Boat received the University of Cincinnati’s College of Medicine’s highest honor, the Daniel Drake Medal, for outstanding contributions to medical education, scholarship or research. He joined Cincinnati Children’s in 1993, after serving as chairman of the department of pediatrics at the University of North Carolina, Chapel Hill. Previously, he was co-director of the Cystic Fibrosis Center at Rainbow Babies and Children’s Hospital in Cleveland.
At Case, Mr. Coticchia is responsible for coordinating the institution’s research agenda and technology commercialization priorities. Prior to joining Case, he was Senior Director of Redleaf Group, Inc., an early stage venture capital firm. As part of the senior management team based in Pittsburgh, Mr. Coticchia’s responsibilities included the development and management of a global university technology transfer and incubator operation that included seed level investment activities.
From 1997-2000, Mr. Coticchia was Director of Technology Transfer at Carnegie Mellon University. He continues to serve as adjunct professor of entrepreneurship at Carnegie Mellon.
Omeris also announced that Richard Rosen succeeded David Scholl, PhD, as chairman of the Board. Rosen is vice president of external business relations at Battelle. Dr. Scholl will serve for one year as past chairman. Michael Hooven, founder and chief technology officer of AtriCure, was elected as vice chairman.
For a complete list of board members, go to: www.omeris.org/about/board.asp.
More and more Omeris members
Omeris’ membership is growing! We have welcomed more of Ohio’s best and brightest as members. We’d like to thank the following new members for supporting Ohio’s bioscience progress.
New Omeris Members since late September 2005:
- US Private Companies, LLC
- Future Path Medical, LLC
- Novellus Design, LLC
- Newport Biotechnology Consultants
- Strategic Thinking Industries
- The Krill Co., Inc.
- Harris & Associates/IIC Partners
- IBM Healthcare & Life Sciences
- SYMARK LLC
- itCube, Inc.
- Perimed, Inc.
- NorTech
- Axentis
- LeadScope, Inc.
- Columbus Nanoworks
- Performance Validation
- Zeinab Schwen
- Robin Ng
- Jim O'Hare
- Carol Crooks
New Member Benefits: Long-time member benefit BIO Business Solutions has added new services to their program. All Omeris members are eligible for these benefits, including 401(k) plans, group employee benefits insurance, and discounted employee screening. To see the complete list and learn more about BIO Business Solutions go to www.biobusinessolutions.com/oh.asp.
Membership networking: After last year’s successful get-togethers, Omeris again will host networking events in Cleveland, Cincinnati, and Columbus in late April and early May. Once dates and locations are set, we’ll let you know. Admission is free for Omeris members!
Bioscience events in Ohio
Spring 2006 is loaded with bioscience-related events in Ohio. Omeris is especially excited about “BioPharma in Ohio: A Prescription for Economic Growth in Ohio,” to be held in Columbus on March 21. Workshops, featured speakers, and expert panels will discuss strategies, challenges, and opportunities in expanding the pharmaceutical industry in Ohio. The keynote speaker is Gino Santini, Senior Vice President for Eli Lilly and Company. To register for this free event organized by Omeris and PhRMA, go to: www.biopharmaohio.org.
Other noteworthy events…
Ohio Valley Affiliates for Life Sciences: The Path to Open Innovation
March 6-7, 2006 at Griffin Gate Marriott, Lexington, KY
Windows on the Future Conference
March 7, 2006 at the Hilton Columbus
The Ohio Nanotechnology Summit
April 4-5, 2006 at the Greater Columbus Convention Center
Ohio Collaborative Conference on Bioinformatics
June 28-30, 2006, at Ohio University, Athens
2006 BIO Mid America Venture Forum
September 25-27, 2006, at the InterContinental Hotel & Conference Center, Cleveland
BioOhio 2006
October 23-24, 2006, at the Hilton Columbus
For details on these and other Ohio bioscience events: www.omeris.org/programs/events.asp
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