Billions for biotech

Maryland Governor Martin O'Malley announced his proposal to invest $1.1 billion in biotech industry, which could trump the $1 billion already signed by Massachusetts Governor Deval Patrick on Monday (June 16). Now the race for the biggest biotech hub on the east coast begins in earnest. Maryland's proposal, which O'Malley discussed during a visit to Johns Hopkins University yesterday, would allot funds for a biotechnology center, start-up companies, and $20 million annually for stem cell resea

By | June 17, 2008

Maryland Governor Martin O'Malley announced his proposal to invest $1.1 billion in biotech industry, which could trump the $1 billion already signed by Massachusetts Governor Deval Patrick on Monday (June 16). Now the race for the biggest biotech hub on the east coast begins in earnest. Maryland's proposal, which O'Malley discussed during a visit to Johns Hopkins University yesterday, would allot funds for a biotechnology center, start-up companies, and $20 million annually for stem cell research. "We certainly see manufacturing has been on the decline in the past, and life sciences are really the new manufacturing for the 21st century." Donald C. Fry, president of the Greater Baltimore Committee told linkurl:__The Baltimore Sun.__;http://www.baltimoresun.com/news/health/bal-bioscience0616,0,6308709.story The bill may face some resistance in the state legislature, which downgraded a $23 million allotment for stem cells to $19 million this year. One of the provisions of the Massachusetts biotech bill will support young scientists with grants ranging from $5,000 to $15,000, to offset the low income of academic scientists in training. The program was named the Dr. Judah Folkman Higher Education Grant Fund, in honor of the cancer researcher and physician who linkurl:inspired many;http://www.the-scientist.com/blog/display/54173/ in the life sciences. "One of Judah's greatest gifts and passions was identifying brilliant young scientists and supporting and investing in them during the early part of their careers," said James Mandell, president and CEO of Children's Hospital Boston, linkurl:in a statement.;http://www.boston.com/news/health/blog/2008/06/life_sciences_b.html

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