https://www.biospace.com/article/oregon-s-biopharma-market-heats-up/ Published: Jun 05, 2019 By Mark Terry for BioSpace The Oregon Bioscience Association recently released a new economic impact report, showing that the state’s biopharma and life science industry is continuing to grow at a significant clip. This is consistent with what is currently known about the American Northwest, which is also the BioSpace Bio Forest Hotbed. For example, a recent report by the U.S. Bureau of Labor Statistics and CBRE Research identified Seattle as the fastest-growing life science market in the top 10 from 2014 to 2017, with a greater than 17% growth. The Oregon Bioscience Association’s report found that Oregon hosts 19,157 bioscience jobs, and in 2017, that totaled direct wages of $1.5 billion. The average wages in corporate bioscience in the state averaged $70,451 and in life science research averaged $92,840, both in 2017. This is an indicator that the bioscience and life science industries are outstripping the state’s overall private annual wage by 40% (corporate bioscience) and 46% (life science research). The report, titled, “Economic Impact Study 2019: Profiling the Growth of Oregon’s Bioscience Industry in 2017 (and Trends Since 2002),” found that in 2017 the bioscience industry and its impact on supply chain and [...]
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http://cascadebusnews.com/biotech-firms-making-bigger-economic-impact/ By Simon Mather CBN Feature Writer on June 6, 2019 Business & Industry, E-Headlines (Grace Bio-Labs | Photo Courtesy of Grace Bio-Labs) A growing bioscience sector in Central Oregon has become a prominent feature of the local business environment and has played a role in that industry — featuring cutting-edge research and development of innovative healthcare, agricultural, and environmental biotechnologies — boosting the state’s economy by more than $10 billion in 2017, according to a new study. East of the Cascades, Deschutes County has been successful in supporting the steady growth of its own bourgeoning bioscience and R&D cluster, particularly through Bend Research and spin-off businesses spawned by that scientific powerhouse, as part of a trend mirrored statewide. Economic Development for Central Oregon (EDCO) has long targeted bioscience as a desirable ‘clean’ industry for the region, and has fostered development of the field, known for providing higher-than-average wages and producing a strong ‘multiplier’ effect rippling through local communities and beyond. Oregon Bio’s report shows the larger Deschutes County area now has some 52 bioscience-based businesses — with a number related to agriculture — with 720 jobs that command average wages in excess of $84,000 annually. In fact, a new [...]
$10.7 billion: More biotech firms, more life research, more jobs and higher industry wages in Oregon make an increasingly larger economic impact in Oregon
Released in 2019 Oregon’s bioscience and R&D industry continues its steady and significant growth. With its dedication to improving the quality of life for people around the world, Oregon’s growing life science industry continues to shine. From new and better therapies for cancer and heart disease to improvements in wound care, drug delivery methods and use of artificial intelligence to advance precision medicine, Oregon companies are at the forefront of innovation. Considering Oregon’s renowned academic and research institutions along with recent significant investments in the state, the trends noted in this study are only expected to accelerate. The new economy impact study shows the total economic impacts, including the direct impacts of the bioscience industry plus additional supply-chain and consumption-driven impacts. In 2017, the total impacts in Oregon consisted of: $10.7 billion in output, including $3.4 billion in income, and 47,238 jobs Average annual wages totaling $1.4 billion statewide NIH and federal dollar awards surpassing $363.4 million $401.9 million in tax and fee revenues for state and local jurisdictions $789.6 million in tax and fee revenues for the federal government. Click here to read the reports and click below to read the press release:
By Elizabeth Hayes – Staff Reporter, Portland Business Journal May 23, 2019, 3:32pm EDT https://www.bizjournals.com/portland/news/2019/05/23/oregon-bioscience-sector-jobs-and-economic-impact.html Oregon is known more for its prowess in pinot noir than biosciences. But bio's economic footprint is about twice that of the wine industry, at $10.7 billion in 2017, according to a new study by Pinnacle Economics done for the Oregon Bioscience Association. Private bioscience concerns and public research institutions and hospitals directly generated $6.5 billion in economic input and 19,157 jobs that year, Pinnacle found. The snapshot reveals an industry that's slowly coming into its own but has yet to reach true critical mass. Employment in the sector sort of resembles a barbell. Of 820 companies, 400 have headcounts of just one to four employees. Those early-stage startups have kept the OTRADI Bioscience Incubator full with a waiting list. There are 26 on the roster currently, up from six when the incubator started 11 years ago. At the same time, Oregon is home to a handful of larger biotech employers. These include Biotronik-Micro Systems Engineering, a German manufacturer of pacemakers and implantable defibrillators that has its North American headquarters in Lake Oswego, and MolecularMD, which employs 85 people in Portland and was just acquired by [...]
(Sunnyvale, CA) – May 9, 2019 – Curadite, Inc. is excited to announce that it has been selected as a 2019 TiE50 Winner in the prestigious TiE50 Awards Program. This awards competition, now in its tenth year, is a program of TiEcon, the world's largest conference for tech entrepreneurs. Curadite was selected from over 3000 submissions and recognized for its Medication Management Platform, which empowers and supports efforts throughout the healthcare market to improve medication adherence and stem controlled substance diversion. “We are incredibly pleased to have been selected as a 2019 TiE50 winner,” said Curadite CEO Dennis McNannay. “With Curadite’s solution, everyone is a winner. By replacing manual and error prone processes with our IoT-enabled and cloud-based platform, healthcare workers can focus on patient care, and administrators can seamlessly safeguard controlled substances (e.g. opioids). Both market forces and pending regulatory requirements are forcing the historically technology-resistant long term care market to address controlled substance diversion by modernizing their medication management systems.” “TiE50 has become a global brand and this year we screened entries from all over the world and from a very diverse set of industries including AI, autonomous vehicles, FinTech, sustainable textiles, medical devices, robotics, fuel cells, networking, [...]
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Following the 2018 announcement of the Eastside Innovation Hub at 808 S.E. Alder in Portland, the ‘NIR Center’ is ready to break ground in the heart of Portland’s IQ at Southeast 10th and Stark, featuring research, BioSafety Level 2 laboratory space and office/collaboration elements. Portland, Ore. – Metro Portland and Vancouver’s Summit Development Group purchased a majority of a southeast Portland block in the Portland IQ bordered between 9th and 10th, and Stark and Washington, and will raise two, connected 10-story buildings. The emerging, 347,000-gross-square-foot NIR complex will house early- and mid-stage bioscience and technology companies, and will be enabled for efficient research, lab space, offices and street-level supportive retail. The ‘New Industrial Revolution’ campus (NIR) follows up from Summit Development’s Eastside Innovation Hub at 808 S.E. Alder, another bioscience laboratory and collaborative space housing wet labs, analytical and office space, and a spec buildout plan in 40,000 square feet of four-level, completely rehabilitated space. Two Letters of Intent with life science tenants have been secured for NIR. The NIR center – two adjacent buildings joined in an “H” formation – aims to be the 2nd building in the Central Eastside customized specifically to the needs of emerging and growing [...]
(Portland, Ore.) – Oregon Bioscience Association participated in the 2019 BIO Legislative Day Fly-In with two of our member companies, DesignMedix and RevMedx. Biotechnology Innovation Organization (BIO) had a strong turnout with representatives from over 41 states and more than 200 biotechnology and life science industry leaders from across the U.S. attended in the District of Columbia. Oregon Bio met with Members of Congress and staff to discuss our key legislative priorities. In meeting with our Congressional representatives and staff, one of our key messages was to ensure that the next generation of biotechnology breakthroughs get to the people who need them most. Our lawmakers have a role to play in supporting policies that foster innovation and encourage the entrepreneurial spirit and that address patient access to therapies, treatments and cures. Oregon Congressional delegates and their staff heard how the ability to innovate had made it possible for DesignMedix to offer a solution to treat malaria where other drugs are failing - a solution that is expected to be made available in areas of need for less than $1 a dose. They also got to see the XSTAT, a RevMedx product in use on the battlefield and among first responders statewide, in action. Members of the BIO Board of Directors from innovative biotechnology companies both big and [...]
Bozinovic comes from Biocom Institute to join the local bio organization as it turns 30 (Portland, Ore.) –The Oregon Bioscience Association’s Board of Directors announced today the selection of its new Executive Director, Liisa Bozinovic, who will assume leadership of the trade/industry association on April 11, 2019. Bozinovic comes to Oregon’s growing life science and medical device industry organization from its peer organization, Biocom, where she currently serves as executive director of Biocom Institute. Biocom works to accelerate the success of its more than 1,100 members through advocacy, networking, capital development and purchasing programs. Biocom Institute provides a rich array of professional and workforce development and STEM education programs for the life science industry. Bozinovic has served in a variety of financial and operational leadership roles for Biocom over the years. Since 2014, she has served as the executive director of Biocom Institute. Previously, she spent four years in a financial and operational leadership position with Polyzen Inc., a developer and contract manufacturer of medical devices. Bozinovic is a proven leader and innovative thinker with broad-based expertise in operations, financial management, community relationship building, and value-driven program creation. Bozinovic also focused her time at Biocom Institute developing successful life science programming [...]
By Elizabeth Hayes – Staff Reporter, Portland Business Journal Mar 7, 2019, 3:29pm EST Eugene-based NemaMetrix, a biotech company that developed DNA testing equipment using nematode worms, has raised another $5 million, according to a filing with the U.S. Securities and Exchange Commission. Oregon Venture Fund was the lead investor and Rogue Venture Partners also participated, said NemaMetrix CEO Matt Beaudet. This is the company’s fourth funding round, bringing the grand total to $8.5 million. NemaMetrix has also garnered $4.5 million in grant funding from the National Institutes of Health and other entities and is currently making enough in revenue to “come close to sustaining” its operations, Beaudet said. NemaMetrix puts genetic material from patients with inherited diseases inside microscopic animals to determine the diseases' nature and hone potential future therapies. The process takes about three months. To this point, NemaMetrix's products have mostly helped basic research in labs, not clinical settings. That may soon change with this latest investment. “This acceleration will allow us to drive time down to 10 days, and that puts it in a time frame that allows it to be usable to give a clinician information to make a decision to treat an individual patient,” Beaudet [...]