$3.8 million goes to Biosciences Research and Commercialization Center

Success is breeding further success at the Biosciences Research and Commercialization Center in Kalamazoo.

Western Michigan University’s Biosciences Research and Commercialization Center was established in 2003 with $10 million from the Michigan Economic Development Corp. The center has played a critical role in the startup of 30 companies and WMU officials say it’s helped create more than 200 high-paying jobs.

Now that the original $10 million has been invested in startup companies a new fund has been created with new state funding. The Michigan Strategic Fund will invest $3.8 million aimed at more life science business starts.

Dr. Jack Luderer who served as the Biosciences Research and Commercialization Center executive director for its first six years says the center identified specific periods in the life cycle of a startup where there typically were funding gaps and the initial funds went to fill those gaps.

The early focus of the BRCC was on retaining key personnel that could have relocated after the closing of some Pfizer pharmaceutical discovery programs. The fund helped launch new companies that were built on the expertise and talents of individuals leaving Pfizer.

Companies that have secured funding through the center have been able to leverage that support into more than $100 million in further funding from investors, federal grant programs and other sources.

The investment in new companies and related consulting has generated nearly $800,000 in income and allowed the repayment to the state of the initial investment, university officials report.

“Even more important than our economic development success is the fact that these companies are developing the new therapies, devices and diagnostics that will mean improved care for patients,” Lauderer says.

Writer: Kathy Jennings
Source: Cheryl Roland, Western Michigan University