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
Thai Orchid opening in Northland: How this family business is getting out of its comfort zone with street food focus
A second location for a longtime Johnson County restaurant is expected to honor the origin story of the family business — building on its menu with a new emphasis on casual Thai street food items and small plates. Thai Orchid — a Mission, Kansas, restaurant that has been in the Rojjanasrirat family for 26 years…
mySidewalk teases Sidekick — a data assistant at the forefront of AI’s difficult-to-simple transformation
A new purpose-built community data and visualization tool from mySidewalk is designed to revolutionize decision making and empower those willing to embrace change when supplied with accessible and reliable data. The Kansas City-based govtech company this month announced the beta launch of Sidekick, an AI-powered data assistant meant to drive meaningful progress through insights gleaned…
Gold-plated: Serial entrepreneur mints new new venue in former bank — cashing in on built-in vault, history
A refurbished events space in Lenexa not only deposits new life into a former structure along a busy Johnson County thoroughfare, said Steve Beaumont; the project near 95th Street and I-35 represents a fusion of history and innovation. “For 50 years, this corner has been a cornerstone of financial activity,” said Beaumont, the owner-developer behind…
As TikTok legal fight plays out, Missouri creators and businesses brace for possible ban
Editor’s note: This story was originally published by Missouri Business Alert, a member of the Kansas City Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, Kansas City PBS/Flatland, and The Kansas City Beacon. Click here to read the original story. Like many others suffering from quarantine-induced boredom, Gabbie Wiggins first hopped on social…