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General
Assembly Returns to Raleigh
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 The North
Carolina General Assembly has convened in Raleigh for its 2007-08
Session. This year, legislators meet for their so-called "long
session," in which they will consider a host of policy matters as
well as a two-year state budget. NCBIO is finalizing its advocacy agenda
for the 2007 Assembly. For a summary, see the next article in this
newsletter.
Senator Marc Basnight (D-Manteo) has been elected as President Pro
Tempore of the State Senate, and will lead that body for a record-setting
eighth term. In the House, Representative Joe Hackney (D-Chatham) has
been elected Speaker. To learn who is representing you in the General
Assembly, click
here.
The 2007 Assembly must deal with a structural budget gap of approximately
$1 billion. Over-collections in the 2006-07 fiscal year are expected to
mitigate much of the shortfall. It is unlikely, however, that legislators
will enjoy the kind of large budget surplus that they saw in 2006.
Spending legislation will also be affected by a variety of potential tax
changes. Fiscal experts in business and government have, for several
years called for restructuring of the state's antiquated tax system,
which got its last major overhaul in the 1930s.
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NCBIO
Legislative Agenda
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NCBIO
will continue to seek expanded funding for life science incentive and
support programs in the 2007 legislative session. Key priorities will
include the following:
In
addition, the Organization will continue to advocate for strong biomanufacturing
worker training programs and full access and market-based pricing for
brand name drugs under the State's Medicaid Program. NCBIO will also
carefully monitor legislation for unnecessary restrictions on stem cell
research, genetically modified organisms, and other cutting edge
technologies.
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Emerging
Companies Forum
Adopts Policy Recommendations
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 NCBIO's
Emerging Companies Forum has adopted recommendations developed from a
survey and focus group meetings of its members. The group endorsed the
Organization's 2007 legislative agenda and also recommended activities to
support improved access to venture funding for mid- and later-stage
emerging companies. Click
here for a summary of the work of the Forum and its focus groups.
As a result of the meetings, NCBIO staff will be to develop strategies to
encourage more investment of state pension and other trust funds in
venture capital, initiatives to recruit more venture firms to the state,
and mechanisms to reduce burn rates by providing small companies better
access to state incentive programs and tax credits. Some of the new
proposals could be incorporated into the Organization's 2007 legislative
agenda; others will be presented to state officials in 2008.
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Legislature to
Consider Unitary Reporting
for Corporate Income Tax
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The legislature's Revenue Laws Study Commission has recommended
legislation to require affiliated companies engaged in vertically or
horizontally integrated businesses (or other interdependent activities)
to report income as single "unitary" entity for corporate
income tax purposes. Entities would have the option of excluding
activities of affiliates deriving less than 20% of their income from
business activities in the United States. Click
here to download a copy of the draft legislation.
Income tax liability under the proposed system would be calculated by
determining the income of the unitary entity allocable to North Carolina
based on values of property, payroll and sales in or associated with
activities in North Carolina. Calculation of sales associated with the
state would be subject to certain limitations based on federal rules
governing tax nexus.
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BIO President
and CEO to Address Triad Bio Night
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 Jim
Greenwood will be the keynote speaker March 1st for an event recognizing
the accomplishments of the biotechnology industry in the Piedmont Triad
area. Greenwood has been President and CEO of BIO since 2005. Prior to
joining BIO, Mr. Greenwood served in the U.S. Congress as a
representative from Pennsylvania. Mr. Greenwood will talk about
"Biotechnology Opportunities for Success."
The event will begin at 6:00 p.m. at the Piedmont Triad Research Park's
Biotechnology Research Facility 1, 39 Technology Way, Winston-Salem. Click here for more information.
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NC BioFuels
Task Force Presents Interim Report
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 A task force charged by
the North Carolina General Assembly with developing a strategic plan for
the State's biofuels future has submitted its interim report. Coordinated
by the North Carolina Biotechnology Center and led by representatives
from the Center, the College of Agriculture and Life Sciences at North
Carolina State University, the School of Agriculture and Environmental
Sciences at North Carolina Agricultural and Technical State University,
and the North Carolina Rural Economic Development Center, the task force
has gathered recommendations from dozens of groups.
The task force is considering whether to recommend that a single state
entity be charged with responsibility for biofuels coordination,
assistance, and policy implementation. Click
here for a copy of the interim report. The group's final report will
be submitted to the General Assembly's Environmental Review Commission
April 1.
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SEBIO Launches
New Business Plan Competition
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Southeast
BIO (SEBIO), a regional nonprofit organization dedicated to fostering the
growth of the Southeast's life sciences industry, has announced its first
annual BIO/Plan Competition. The year-long program is designed to promote
the creation of new, venture-attractive life science companies based in
the Southeast.
Under the program, investigator-entrepreneurs will apply for assistance
and mentoring to develop business plans based on product concepts.
Finished plans will be submitted to a panel of experts, who will
recommend a small group of finalists for presentations to the investment
community at the 2007 SEBIO Investor Forum. From among the finalists, a
winner will be awarded a substantial prize of non-dilutive funds --
estimated at $100,000 -- with which to launch the enterprise and
implement the business plan. Deadline for applications is March 15, 2007.
Click here for more
information.
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Gearing Up for
Biotech 2007
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North Carolina's 16th annual Biotech conference will feature several
concurrent panel sessions led by industry leaders and visionaries, other
speakers (to be announced in the coming weeks) and networking
opportunities with 800+ life science industry executives, service
providers and other industry leaders. Organized by the Council for
Entrepreneurial Development and co-hosted by NCBIO and the North Carolina
Biotechnology Center, the event is scheduled for May 14-15 at the
Marriott Civic Center in Durham. Click
here for more information.
As in the past, NCBIO's annual meeting will be held in conjunction with
the event. More details will be included in future editions of this
newsletter.
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At the
National Level
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 BIO
Applauds Healthcare and Alternative Energy Initiatives in President's
State of the Union Address
Biotechnology Industry Organization (BIO) leaders have praised the
significant and far- reaching initiatives to increase Americans' access
to healthcare and to stimulate large- scale production of biofuels from
cellulosic biomass that President Bush outlined in his State of the Union
address.
"The U.S. is already a leader in healthcare, yet too many Americans
do not have access to affordable health insurance, preventative
healthcare services, and other basic healthcare needs. BIO supports the
President's goal to make private health insurance more affordable and
accessible to the millions of Americans who are currently
uninsured," stated BIO President Jim Greenwood. "We believe all
Americans should have access to innovative therapies that can enhance and
extend lives."
"With recent advances in industrial biotechnology, the United States
can achieve the goal of the production of 35 billion gallons of renewable
fuel by 2017 which the President outlined. Greater production and use of
biofuels will help the United States address the challenge of climate
change while increasing our energy independence," Greenwood said.
BIO Releases Report on
Sector Employment and Economic Impact
A newly released report from BIO, The Biosciences in the United States: A
Regional Perspective, finds that employment in the biosciences is widely
dispersed, with 25 metropolitan statistical areas (MSAs) each having more
than 10,000 total bioscience jobs. The metropolitan area with the most
bioscience jobs -- more than 110,000 -- is the New York City MSA, which
includes Northern New Jersey and Long Island.
North Carolina's largest biotech MSA was Durham, with total bioscience
employment of 14,400. Nationwide, the report found that the biosciences
are a growing and vibrant sector of the U.S. economy, with more than
40,000 businesses employing 1.2 million people. Authors of the report
found that, taking into account multipliers, 7 million people are
directly and indirectly employed in the industry. Click here for a copy
of the report.
Kauffman Foundation
Launches Tech Transfer Initiative
The Ewing Marion Kauffman Foundation has launched iBridge Network, a
program for facilitating commercialization of new products and
technologies. iBridge allows university researchers, industry
representatives, and entrepreneurs to search for innovations that, until
now, have been lost and untapped behind university walls. With more than
700 research projects listed, the iBridge website is fast becoming a
place for researchers and technology transfer officers to post research
from their universities, as well as the place to go to find research
occurring at other institutions. Click
here to go to the iBridge site.
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Calendar
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February 20, 2007, 9:30 a.m. - 2:30 p.m.,
Health Care Economic Development Summit, Durham Civic Center.
This
conference, hosted by Sen. Richard Burr, R-N.C., is designed to promote
solutions to health care challenges and to advance economic development
in North Carolina by specifically exploring the topics of research and
development, prevention and wellness. More
information.
February 23, 2007, NCBIO BPTC Internship
Fair. 1-5 p.m.
More than a dozen companies will talk with
students. If your company is interested, contact bsummers@ncbioscience.org or john_balchunas@ncbiotech.org.
March 1, 2007, 6:00 p.m. Triad BioNight,
Piedmont Triad Research Park, Winston-Salem.
Celebration
of Triad Area biotechnology companies, featuring former Congressman Jim
Greenwood, President of the Biotechnology Industry Organization. More
information.
April
24-25, 2007. Venture 2007, Washington Duke Inn, Durham. More information.
April 24-26, 2007. NIH Regional Seminar:
Grant Applications and Administration, Sheraton Imperial, Research
Triangle Park.
National
Institutes of Health regional seminar regarding NIH funding processes,
from grant applications to post-award administration. More information.
May 14,
2007. NCBIO Annual Meeting, Marriott Civic Center, Durham
May
14-15, 2007. Biotech 2007, Marriott Civic Center,
Durham, NC. More
information.
November 7-8, 2007. SEBIO
Investor Forum, Pinehurst Resort Hotel, Pinehurst, NC. More information.
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After five
years heading North Carolina's biotechnology development efforts, Leslie
Alexandre, President and CEO of the North Carolina Biotechnology Center,
has resigned to pursue new opportunities. The Board of Directors of the
Biotechnology Center will conduct a national search for the President and
CEO position.
"Leading the Biotechnology Center since 2002 has been exciting and
rewarding," said Dr. Alexandre. "I leave having accomplished
what I set out to do when I arrived." Alexandre said she was particularly
pleased with progress in expanding the Center's reach to all corners of
the state through regional offices and with other initiatives to improve
the Center's effectiveness.
"North Carolina's bioscience community has been very fortunate to
have a person of Dr. Alexandre's energy, background and caliber as head
of the Biotechnology Center," said NCBIO President Sam Taylor.
"NCBIO is pleased that Dr. Alexandre has agreed to continue to serve
on our Board of Directors, and we are looking forward to working with Dr.
Alexandre and the Biotechnology Center to build on North Carolina's
stature as an international center for the life sciences."
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NCBIO This Month