Displaying items tagged: MichBio

Employment in Michigan’s life sciences sector grew by 5.6 percent from 2018 to 2021 to 44,340 jobs, ranking the state among the top 15 in the nation for industry size.

Like virtually every other sector, Michigan’s life sciences industry faces a key obstacle in trying to attract and retain talent, many of whom are leaving for opportunities out of state. 

The world’s attention focused on Southwest Michigan in late 2020 as the region began producing the first COVID-19 vaccines.

WALKER — A couple of recent strategic acquisitions should further prepare cleanroom designer and builder Angstrom Technology Ltd. for overseas projects as the company continues a private equity-backed string of acquisitions.

Michigan could restore a tax credit for companies that conduct research and development here, which supporters say would make the state more competitive for high-tech business investments.

On the surface, the position appears completely counter to what a business organization would typically advocate.

GRAND RAPIDS — The $160 million federal contract to produce a COVID-19 vaccine when it’s ready elevates Grand River Aseptic Manufacturing Inc. into what Tom Ross calls the “big leagues.”

GRAND RAPIDS — Tetra Therapeutics Inc.’s sale to a Japanese pharmaceutical company provides a final pathway toward bringing to market potential new drugs to treat Alzheimer’s disease and a form of autism, as well as generates a handsome return for financial backers.

The lame-duck session of Congress offers the opportunity for advocates to finally convince lawmakers to repeal a federal tax on medical devices.

In 2014, the narcotic overdose treatment Naloxone cost $690. Today, the same drug sells for $4,500.

MATTAWAN — The proposed sale of MPI Research Inc. to Charles River Laboratories International Inc. for $800 million would end local ownership for a company that’s one of the largest employers in the greater Kalamazoo area.

GRAND RAPIDS — In the three years since Peter Jones moved from Los Angeles to Grand Rapids, he’s helped to more than double the amount of federal research funding that Van Andel Institute receives.

KALAMAZOO — A major expansion by Stryker Corp. could provide a welcome shot in the arm for Southwest Michigan’s life sciences sector. 

While West Michigan may lack the depth of resources and talent that some regions of the country possess when it comes to the medical device industry, it may have one key advantage: the affordability of its contract manufacturing. 

The availability of scientific and executive management talent and the access to later-stage investment capital remain major issues for Michigan’s life sciences industry.

The restoration of an angel tax credit in Michigan looks doubtful before the present legislative term expires at the end of the year.

A state lawmaker wants to restore an angel investment tax credit in Michigan as a way to create a larger pool of prospective investors in startup companies.

Michigan’s life sciences industry recorded growth in most sectors between 2012 and 2014 in both jobs and the number of businesses, according to a report from a national trade group.

The Small Business Association of Michigan wants to find a route to further improve the state’s entrepreneurial climate.

As the medical device industry continues to expand globally, the sector has entered a period of mass consolidation. 

A new roadmap aims to reboot efforts to build Michigan’s life sciences industry and compete with similar clusters around the U.S. and the world.