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
Fresh in the tin: Crossroads cafe targets TikTok generation for laid-back canned seafood cuisine
A new venue specializing in “sangria, tins and snacks” pairs viral tastes with inspiration from a classic culinary voice, said longtime Kansas City restaurateur Shawn McClenny, whose Crossroads “taverna” is expected to open by mid-November. “It will be more of a Spanish cafe, very informal, no reservations,” said McClenny, describing the future Lilico’s Taverna slated…
Lula bets on responsible growth to hit profitability; why the startup’s most valuable property is room to scale
Lula opened 2025 by announcing a hefty funding round; the momentum has only continued to build, founder Bo Lais shared. On top of its $28 million Series A round in early February, the Kansas City-based proptech startup expanded to more than 50 markets nationwide and had eight straight months of record gross merchandise value and…
World Cup hosts launch KC Game Plan for entrepreneurs; heat map, cultural insights on global visitors warming up next
Kansas City boasts no better roster of ambassadors than the region’s small business owners, said Tracy Whelpley, announcing a new KC2026 “Game Plan” for entrepreneurs who are eager to put cleats to streets ahead of the incoming FIFA World Cup. “There’s so many entrepreneurial people out there and they really represent what our community is…
Just funded: Trio of startups join Digital Sandbox KC, emerging onto competitive innovation scene
Not only will proof-of-concept funding from one of Kansas City’s most pivotal startup supporters help CEO Gharib Gharibi rapidly iterate development of his company, the Archia founder said; Digital Sandbox KC connects him to a thriving local tech ecosystem at a crucial inflection point for his artificial intelligence-based solutions. “We are excited to leverage both…