moving concepts to market / kc business bio corner-march 2012
DESCRIPTION
Moving innovative technologies to the animal health market.TRANSCRIPT
Innovative concepts in animal health are
inching closer to reaching the market, thanks
to support from the Center for Animal Health
Innovation, located inside Kansas State
University’s Olathe satellite campus. The
Center, created by the Kansas Bioscience
Authority and a key player in the Kansas
City region’s Animal Health Corridor, is
supporting the growth of several projects
represented by its first proof-of-concept grant
winners. The grant is designed to assist the
academic community and entrepreneurs in
moving breakthrough animal health-related
products, services and technology toward a
bright commercial future.
Winners will share the $300,000 grant,
though not evenly, says the Center’s CEO,
Jeff Boily. Funding amounts depend on the
project’s stage of development at the time
of submission and on what it will take to
garner attention for additional investment
and commercial promise.
“When we fund a project, it’s still too early
to say whether it will go the distance,” Boily
says. “Yet, by investing in it, we’re attempting
to ‘de-risk’ it as much as possible so that it
can move forward in development. Being
awarded the Center’s proof-of-funding
grant is a little like receiving the Good
Housekeeping Seal of Approval.”
According to Boily, when the Center
announced the grant last October, it received
28 applications from across the U.S. and
abroad, 19 of which came from the academic
community and nine from small companies.
Boily says the grant is appealing because it
reduces an innovator’s financial risk of
converting an idea from lab to market. Grant
submissions were vetted by outside advisers
to determine “the scientific robustness of the
product and its commercial success down the
road,” he says.
The Center’s work further raises awareness
of Kansas City’s role in the animal health
industry, according to KC Animal Health
Corridor CEO and Ceva Animal Health CEO/
North America Zone Director Craig Wallace.
“Innovation is critically important to the
animal health industry,” Wallace says. “The
Center for Animal Health Innovation will
Moving Concepts to MarketCenter for Animal Health Innovation guides new ideas
Story by SuSan Fotovich Mccabe | Photo by Gary rohMan
strengthen the region by finding new products
and services for commercialization, which
will further strengthen the research base
in the Corridor. This fits perfectly with the
Corridor’s strategic priorities and fills a gap
in services to academics and entrepreneurs
in the animal health industry.”
Beyond receiving a share of the grant money,
the Center’s proof-of-concept grant recipients
will be paired with members of its board, who
will serve as mentors, provide guidance to
accelerate the process of the various projects
and establish key relationships to catalyze
successful commercialization outcomes.
“The funding and the guidance these
recipients get from senior R&D and C-level
executives from leading animal health
companies that make up our board is
invaluable,” Boily says. “Recipients would
not be able to go to the bank for an unsecured
loan for these projects in their early stages
of development.”
Boily, who brings 30 years of global life
sciences experience in clinical research
informatics, pharmaceuticals, biotechnology
and drug delivery, says the Center is unique in
that it pairs financial support with mentoring
from some of the industry’s leading companies.
And he adds that innovation in animal health
might one day translate to breakthrough
products for human health as well.
“The attention the Center has garnered so far
is amazing,” says Boily. “In just the short period
of time we’ve been here, I have had significant
inquiries from life science companies that didn’t
realize what was going on in Kansas.”
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The word is out among members of the academic, research and entrepreneurial community concerning
the vast resources the Center for Animal Health Innovation has to offer. Its unique ability to fast-track a
concept to the marketplace gives innovators access to leading animal health CEOs and top-level executives
from companies like Bayer Animal Health, Boehringer Ingelheim Vetmedica Inc., Centaur Inc., CEVA
Biomune Company, Hill’s Pet Nutrition, Merck Animal Health and senior executives of the Kansas
Bioscience Authority and the Kansas City Area Life Sciences Institute Inc.
This collection of business, technical and scientific guidance includes project management assistance
to deliver successful results and support to connect with investors and businesses that can help innovators
identify and secure commercial partners.
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