Business Facilities - March 2008 - (Page 18)

COVER STORY Outside the Biotechnology Clusters ence Center at San Antonio ranks in the top 5% of all U.S. universities and nonprofit institutions that receive federal research funding. The institute is also internationally recognized for conducting the world’s largest Phase I drug development program for new cancer drugs. “We have had a lot of success in translating our research into commercial entities that have been successful on their own or have been bought out at high multiples,” says Brian Herman, vice president for research at the institute. One of the most notable examples of this success is CardioSpectra, a UT Health Science Center San Antonio spin-off company that develops diag- nostic catheters to help doctors better predict which patients are at risk for a heart attack. CardioSpectra, one of the first companies to receive funding from the ETF, was purchased in December 2007 by Volcano Corp., a medical devices company from California, for $25 million. CardioSpectra could receive additional funding for its optical coherence tomography technology (OCT), an imaging system. According to a report from the publishers of BioOptics World, the global market for OCT systems is currently around $200 million and is expected to top $800 million by 2021. This is good news for San Antonio, as Volcano Corp. plans to keep CardioSpectra in the city. ARIZONA BUILDS UPON ITS BIOTECH BASES Local and state leaders in Arizona are using the state’s strong research base in genomics and personalized medicine to position itself as a major player in the biotechnology industry. Researchers at CardioSpectra’s lab in San Antonio, TX Arizona’s Bioscience Roadmap, a 2002 study by the Battelle Institute, identified Arizona’s key biotechnology strengths in its universities and medical centers, as well as its research, technology transfer, and commercialization capabilities. The study also noted that in order for Arizona to become a national leader, it had to first strengthen its medical research base and build a critical mass of bioscience firms and jobs. The Translational Genomics Research Institute (TGen) was launched in Phoenix, AZ to serve as a catalyst to bring organizations and industry together to grow biotechnology in the region. Overall, $90 million in private and public funding was provided to launch the nonprofit institute. “We’re not San Diego, we’re not Boston,” says MaryAnn Guerra, TGen’s chief business officer. “How do we get in and survive without having 20 years of resources to capitalize on? TGen was built with the idea to not reinvent what other peo- #2005 at www.BusinessFacilities.com 18 MARCH 2008 PHOTO CREDIT: CARDIOSPECTRA http://www.embdc.org http://www.embdc.org http://www.BusinessFacilities.com

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Business Facilities - March 2008 Contents First Word Snapshots California Seeks Immigration Reform To Spur Economic Growth Outside the Biotechnology Clusters Global Biotech Competition Heats Up Location Is Key To Your Bottom Line New Incentives For New Hampshire Metro Spotlight: Jersey City, NJ Europe's Center For Goods, Real and Virtual Access Your Markets From Pennsylvania Corporate Moves: Illinois Louisiana Upgrades Important Port Road Projects To Accelerate Michigan's Economy Corporate Moves: South Carolina Metro Spotlight: Salt Lake City, UT Advertiser Index Inside LiveXchange

Business Facilities - March 2008

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