Recap: Bill would gut Kansas Bioscience Authority
May 19, 2015 | Bobby Burch
A bill in the Kansas legislature if passed would dissolve the Kansas Bioscience Authority, which has recently served as a venture capital organization investing in early-stage bioscience firms.
The measure — SB 305 — would shut down the organization and transfer its funds and obligations to the Kansas Department of Commence.
Proponents of the KBA say that the dissolution of the KBA aims to help fill a projected $406 million shortfall in the Kansas budget. The bill’s sole supporter, Steven Anderson, a lobbyist for the Kansas Policy Institute and formerly Gov. Sam Brownback’s budget director, said the KBA’s mission is better served by the private sector, according to the Wichita Eagle.
Founded in 2004, the KBA invests in animal and human health, agribusiness and life sciences. It’s invested in such companies as Flow Forward, Metactive, Aratana and Innara Health.
KBA chief executive Duane Cantrell said the current value of KBA assets held in startup investments is $32 million to $34 million, according to the Kansas City Star. Cantrell reportedly testified to the Legislature that his organization has nabbed back assets worth $19 million through portfolio companies’ initial public offerings or exits.
For more information on this story, check out these links:
Kansas City Business Journal: Kansas Bioscience Authority fans voice support at the Capitol
Topeka Capital Journal: Senate explores bill closing state’s bioscience agency
Featured Business
2015 Startups to Watch
stats here
Related Posts on Startland News
New Texas BBQ spot cooking in Westport; pitmaster says he’ll have the best brisket in KC
Five years after a one-time Westport ice house was renovated for food operations, Kevin Bulgerin wants to bring a taste of Texas barbecue to the site — and potentially add a new BBQ favorite from within Kansas City’s historic entertainment district. Grinning Bull BBQ is expected to take over one of two open spaces at…
Power player-turned-poet Pasquale Trozzolo’s new move: Write words worth a thousand pictures
Thirty-five years after starting his own network of strategic marketing firms, Pasquale Trozzolo teases that his longtime communications journey was just the first chapter ahead of what’s to come — as one of the boldest names in Kansas City’s print history takes on a title that he admits still feels a little strange: poet. The…
Tech takes active-shooter training beyond paper targets as deadly real-world threats rise
COLUMBIA, Missouri — A startup’s portable target system could transform the way law enforcement agencies train for active-shooter scenarios, said Kris Knutson, a former IT consultant propelled into the govtech market amid a rise in real-world threats. Shot Bot — patented by Knutson in 2019 — provides realistic, adaptable, and comprehensive training experiences, the Missouri…
‘Big Flour’ can’t recreate this stone-milled secret ingredient: the Kansas-grown artisan wheat in your favorite KC bakeries
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. NEW CAMBRIA, Kansas — Artisan flour sourced from a network of Kansas growers not only takes any batch of baking up a notch, said Ben Mantooth; it makes a better…