The Atlanta Journal-Constitution
Published on: 06/07/08
Some will be looking for seed money, others for financial partners and collaborators, and some are going about 2,000 miles to spread the word that Georgia has become one of the friendliest states for the biotechnology industry.
Most of the dozens of Georgians who'll be heading to San Diego for the Biotechnology Industry Organization's annual convention June 17-20 will "be there to demonstrate to the world that Georgia is a great place to do business in the biotechnology sector," said Mike Cassidy, president of the Georgia Research Alliance, which promotes scientific-based economic development.
|
Ralph Tripp, a University of Georgia professor and expert in infectious diseases, plans to lead a session on molecular diagnostics. He's a GRA Eminent Scholar — a national superstar recruited to the state to boost Georgia's growing biotech industry.
The Eminent Scholar program is a joint venture by the state's research universities, the state and the GRA.
Tripp is chief scientific officer of a startup called Argent Diagnostics Inc., which is developing "ultra-sensitive" diagnostic systems.
"The core discovery of the company is the use of nano-based biosensors to detect the molecular fingerprint of pathogens and bacteria," he said. "Our goal is molecular detection of disease, to provide rapid diagnostics in areas where it currently does not exist."
Gov. Sonny Perdue also plans to attend the convention, making at least one major speech.
"The BIO 2008 event in San Diego offers an opportunity to have CEOs of biotech companies hear why they should invest in Georgia," said Bert Brantley, the governor's press secretary. "Gov. Perdue will meet with companies and officially represent Georgia as the next host of the convention as we look forward to welcoming the biotech world to Atlanta next summer."
BIO's convention in Atlanta next May 18-21 is expected to attract between 25,000 and 30,000 people to the Georgia World Congress Center, said Cassidy.
"It's expected to have at least a $26 million economic impact on the city and state, and that's direct impact," said Charles Craig, president of Georgia Bio, an affiliate.
BIO estimates this year's convention will attract about 20,000 and generate $34.6 million in direct spending.
However, it estimates the convention will generate $83 million in total economic benefits, which suggests the impact on Georgia next year could be much larger than expected, Craig said.
According to a statement from BIO's Washington headquarters, Georgia has the nation's seventh-largest biotech cluster. Georgia is home to 270 pharmaceutical, biotech, medical device, diagnostic, ag-biotech and biofuels companies.
At this year's convention, Cassidy said, "collectively, a lot of companies are going, chambers of commerce are going, a dozen or so state economic development officials.
"We are gong to develop some visibility," he said.
"We'll have a pavilion to show off what we have to offer," Cassidy said. "Bio-energy will be a major topic. Lots of companies will be showing off their discoveries.
Craig said Georgia's "life sciences industry is young, with about half founded over the past 10 years."
He said the state has a "bioseed fund that makes early stage venture capital investments in startups."
Georgia wants to expand its industry because biotech firms "have clean technologies, average salaries are much higher than most other industry sectors and they are developing products that improve peoples' lives."
Georgia's biotech industry accounts for more than 15,000 jobs, a payroll of close to $1 million and boasts $7 million in revenues. Salaries average $61,500 a year, which is more than 50 percent higher than the average of all other industry sectors in Georgia.
Georgia's biotech companies are working on everything from AIDS vaccines and medicines for mental illness to devices to deliver medications through patches.
Tripp said he in the process of detecting viruses and bacteria at extremely low levels with the goal of early detection of animal and human pathogens, including for seasonal and avian influenza.
"We now can detect viruses at the sub-atomic molecular level without the need for amplification of virus," Tripp said. "We are establishing contracts with industry today, as well as with the U.S. government."
In San Diego, he said, "we'll be casting for venture capital," which is how most biotech firms get off the ground.
Vote for this story!
Sponsored Gallery
Photos by Harry Norman, REALTORS®
Home Gallery:
Atlanta’s finest real estate for sale
Harry Norman, REALTORS®: Resort-style living and leisurely pursuits.



DEL.ICIO.US

