Colorado, both in general and particularly in Northern Colorado, is currently experiencing a surge in attention towards its cluster of life science companies. This heightened focus translates to easier access to funding, a larger pool of skilled workers, and a growing willingness from industry giants on the coasts to collaborate with local businesses.
Key figures in the life science and bioscience sectors in Northern Colorado convened on Tuesday morning at BizWest’s CEO Roundtable held at Innosphere in northern Fort Collins to discuss emerging industry trends.
Sponsored by accounting firm Plante Moran, Elevations Credit Union, and law firm Berg Hill Greenleaf Ruscitti LLP, the roundtable provided a platform for industry experts to share insights.
Elyse Blazevich, the CEO of the Colorado Bioscience Association, emphasized the significance of Northern Colorado within the bioscience landscape, noting that 17% of the state’s life sciences assets are located in this region. While much of the activity revolves around animal health and ag bioscience, there is a diverse range of initiatives underway.
Notably, Thomas Reilly, the CEO of AST, is pioneering the development of wearable technology for health and workplace safety monitoring. Similarly, Charles Henry, CEO of Burst-DX, is spearheading efforts to create lab-quality home-based medical condition tests, with a focus on strep throat. Maria Navas-Moreno, the founder and CEO of illumifyDx, is dedicated to advancing cancer diagnostic tests using blood and bodily fluids.
Blazevich highlighted the state’s increasing support for life science research and industry funding, citing the Colorado Bioscience Association’s endorsement of House Bill 1231. This bill aims to allocate funding to four life science projects in the state, including initiatives at the University of Northern Colorado and Colorado State University in Northern Colorado.
The strategic shift towards bolstering the life sciences sector is evident, with municipalities and economic developers in Fort Collins aligning their priorities to support this industry. Kevin Noble, the director of life sciences at Innosphere, reported positive outcomes from the organization’s incubator program, with successful capital raises and expansion plans supported by the U.S. Economic Development Administration.
Despite the challenges in fundraising, there is a growing interest from investors, particularly from coastal regions, in Colorado’s life science ventures. The evolving investment landscape, influenced by factors such as interest rates and inflation, underscores the dynamic nature of the industry.
In conclusion, the life science ecosystem in Colorado, especially in Northern Colorado, is thriving, driven by innovation, strategic partnerships, and a supportive entrepreneurial environment.
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