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
They’re not trying to die(t); how this mother-daughter influencer duo teaches spice of life after weight loss surgery
A support system after weight loss surgery is essential, shared Kiley Williams-Bowls and Linda Donaldson. After both underwent bariatric surgery, the Kansas City mother-daughter duo behind BariGirls have set out to help others who’ve experienced the procedure maintain healthy habits. “We discovered that there are hundreds of thousands of people that have had weight loss…
Menswear in motion: Designer brings ‘specific’ eye, new runway show to KC fashion scene
A self-taught Kansas City fashion designer will bring his signature menswear line to a runway tailored just for men later this month, he shared, hosting an event that he characterized as a celebration of menswear. Mid-West Men’s Fashion Week (MWMFW) is set for March 24-26 at Audi Shawnee Mission in Merriam, according to Christian Shuster,…
HERImpact awards $50K: Prize money expected to help pop-up scale into its own space
Editor’s note: 1863 Ventures is an advertiser with Startland News, though this report was produced independently by the nonprofit newsroom. Tirza Design allows consumers to support cause-based brands and survivors of human trafficking, exploitation, and other forms of abuse, detailed Nikkie Affholter, noting her venture also meets the need of bringing dignified employment to women who’ve escaped…
City OKs plan to replace urban farm near Plexpod in Midtown with 100-unit Park 39 apartment project
Editor’s note: The following story was originally published by CityScene KC, an online news source focused on Greater Downtown Kansas City. Click here to read the original story or here to sign up for the weekly CityScene KC email review. The City Plan Commission narrowly endorsed a planned apartment project that would replace the Cultivate KC urban farm in…