Wednesday, June 24, 2009

MdBio Offers Support for State Life Sciences Plan

ROCKVILLE, Md. -- As the association representing the biotech industry in the State of Maryland, the MdBio Division of the Tech Council of Maryland is pleased to wholeheartedly support "BioMaryland 2020: A Strategic Plan for the Life Sciences Industry in Maryland." Last month, at the BIO 2009 International Convention in Atlanta, Georgia, Governor Martin O'Malley unveiled the Strategic Plan developed by the Maryland Life Sciences Advisory Board, a 15-member panel formed by the Governor and Maryland General Assembly in 2007. The Board's purpose is to advise the State on setting priorities for the biotech industry. BioMaryland 2020 lays out a 17-point program whose "one-stop shop" centerpiece, the Maryland Biotechnology Center, has already been launched, and whose recommendations include more spending on some existing programs as well as the creation of new initiatives.

The four priorities of the plan, innovation, competitiveness, talent, and capital, are areas of critical interest to biotech companies in the State. Many of the programs and initiatives of the MdBio Division and its companion organization, The MdBio Foundation, have been dedicated to addressing these specific issues. A number of the plan recommendations reflect long-standing Tech Council of Maryland priorities. These priorities include increasing funding for the Biotech Tax Credit, increasing funding for Maryland Venture Fund, expanding Maryland's R&D Tax Credit, supporting stem cell research, and encouraging nanobiotechnology.

"It is our intention to work closely with the Maryland Biotechnology Center and the Maryland Life Sciences Advisory Board in a synergistic manner to advance implementation of these recommendations for the good of our member companies and for the life sciences industry in Maryland as a whole," said Dr. Richard Zakour, Executive Director of the MdBio organizations. "Many of our member companies have played a role in shaping the Plan. Its success is critical to the future growth and success of the biotech industry in our State."

The BioMaryland 2020 initiative and recommendations of the Maryland Life Sciences Advisory Board pro vide a clear road map to maintain Maryland's prominence and realize its potential leadership role for the future of biotechnology industry globally. MdBio will enthusiastically continue to support of the Maryland Life Sciences Advisory Board and the Maryland Biotechnology Center in achieving these goals.

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