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2012 Texas Biotechnology Industry Report - Synopsis

Here is a synopsis of the of the 2012 Texas Biotechnology Industry Report (the editor of the UT Southwestern Postdoc Informer was kind enough to let me post this article up on my blog before the next issue of the newsletter is released). The report is definitely worth reading in its entirety (it's 36 pages long), but the collection of highlights below should be enough to pique the curiosity of anyone out there who might have an interest in this topic. [Insertions and corrections within the synopsis based on my own research are indicated by bracketed italics.] Happy reading!

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 2012 Texas Biotechnology Industry Report synopsis:

Private funding of Life Science-related companies in Texas:
According to PricewaterhouseCoopers, venture capital firms invested $1.27 billion in 152 Texas biotech and medical device companies between 2006 and 2011. Of this total, $568 million (in 96 companies) were investments in the medical device and equipment sector. 

Rankings and Statistics:
- In 2010, the University of Texas (UT) system ranked No. 2 [No. 3] nationally for the number of patents earned by an academic institution, up from No. 5 in 2009, according to The Patent Board, an independent patent research firm. [The No. 1 and No. 2 spots in both years were occupied by MIT and the University of California (UC) system.]
- In 2010, Texas ranked No. 2 among all U.S. states for the number of life and physical scientists employed, with 48,850, according to the National Science Foundation (NSF).
- In 2008, Texas ranked No. 3 nationally for employed science, engineering, and health doctorate holders, with 39,900, according to the NSF.

State-Funded Initiatives:
Texas Enterprise Fund (TEF): In 2003, Texas established the $295 million Texas Enterprise Fund (TEF), a “deal closing” fund created to attract businesses and new jobs to Texas. It was most recently reauthorized by the state legislature in 2011. As of April 2012, TEF has awarded over $98.1 million to biotechnology-related projects. (http://governor.state.tx.us/ecodev/financial_resources/texas_enterprise_fund/)

Texas Emerging Technology Fund (TETF):  The Texas Emerging Technology Fund (TETF) was established by the state in 2005 (and most recently reauthorized in 2011)  to promote and finance technological innovations across multiple industries, including biotechnology.  TETF has awarded $233.58 million to biotechnology-related projects, with $127.24 million going to commercialize start-up companies and $106.34 million awarded to universities or university-related consortiums. (http://governor.state.tx.us/ecodev/etf/)

Cancer Prevention and Research Institute of Texas (CPRIT):  In 2007 the state established the Cancer Prevention and Research Institute of Texas (CPRIT), which dedicated $3 billion in state bond money to cancer research over ten years. CPRIT received a state legislative appropriation of $450 million for fiscal years 2010-2011 as well. [As of March 2013, CPRIT has funded 498 awards worth over $835 million; of this, 14 awards totaling approximately $98 million have been made to companies (http://www.cprit.state.tx.us/). Because of recent concerns regarding its project review and approval processes, a moratorium on new CPRIT awards is currently in effect; see http://www.cprit.state.tx.us/news/message-from-interim-executive-director-wayne-roberts-/)]. 

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-Isamu Hartman, PhD

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