Maryland is a national leader in a number of key research and development indicators. But the state falls short in biotech company density and productivity/commercialization.
In a recent op-ed in the Baltimore Sun, Womble Carlyle attorney Newt Fowler says insufficient public research dollars and seed funding is to blame for the shortfall.
“Maryland is not alone in wanting to grow its life sciences industry, and increased funding initiatives have been launched by other states,” he said. “If we’re serious about building one of the nation’s leading life sciences clusters in Maryland, then we need to capitalize—literally fund—that vision.”
Fowler points to several recent examples where biotech companies founded in Maryland have been lured out of state. The most recent example is PathoVax, which is developing a universal HPV vaccine. Buffalo, N.Y. lured the company away with a $500,000 public investment.
Click here to read “Stop Exporting Md.’s Life Sciences Companies to Other States” in the Baltimore Sun.
With more than 30years’ experience in law and business, Newt Fowler advises many investors, entrepreneurs and technology companies, guiding them through all aspects of business planning, financing transactions, technology commercialization and M&A. He chairs the Board of TEDCO and serves on the Board of the Economic Alliance of Greater Baltimore.