It has been quite a journey for House Bill 08-1001 and today was graduation day; the Bill became law with the stroke of Governor Ritter’s pen!!! HB08-1001 a $26.5M package, sponsored by Rep. Jim Riesberg, (D-Greeley), and Sen. Bob Bacon, (D-Fort Collins), provides grants for five years to Colorado start-up companies and research institutions seeking to commercialize new biotech drugs, biofuels, medical devices and nanotechnologies. The grants are capped at $150,000 for research institutions and $250,000 for companies.
Tom Cech, Ph.D. who is stepping down from his post as President of the Howard Hughes Medical Institute to return to Colorado was on hand for the signing ceremony and provided some very encouraging words about the future of Colorado life science. There are no misperceptions here, Colorado is not yet on par with San Fran, Boston and San Diego…yet however, the passing of HB08-1001 will certainly aid in accelerating the development of the State’s life science intellectual property and place it squarely on the commercialization trajectory.
Many many thanks should also be extended to the amazing work done by Denise Brown and the entire team at the Colorado BioScience Association. Be sure to let them know how much their behind-the-scenes efforts are appreciated, perhaps at the next CBSA BioBreakfast to be held 30 April 7:30am at the Denver Museum of Nature and Science.
Looking forward next to reporting on how and who these critical dollars will be deployed to. Stay tuned…more info to come.
*NOTE* Feel the power of the Colorado BioScience Association (HERE)!
*NOTE* Take a look at the new Boulder Biotech Company Tree (HERE)!
*NOTE* Read the new eBook CLSDF 2007 - What's In A Year? (HERE)!
If you enjoyed this post get free email or RSS updates (here).