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
She scored music on Netflix and LA’s star-studded stages; now BodaciousThang is getting vulnerable in KC
When Cheyenne Jolene steps on stage in the shoes of her alter ego, the singer-songwriter’s voice carries both raw emotion and unapologetic truth. Performing as BodaciousThang, Jolene blends R&B, hip hop, rock, and soul into what she describes as “genre bending” music. Her songs are steeped in authenticity and storytelling, offering listeners intimate glimpses into…
SNAP cuts are ‘worse than they look on paper’: Food access advocates warn shelves could go bare overnight
Chef Shanita McAfee-Bryant doesn’t mince words about perceptions of the hungry Kansas Citians she serves daily through her award-winning culinary social venture. “These are the people who — if you listen to the rhetoric — are deemed ‘lazy,’” the founder of The Prospect KC’s NourishKC Community Kitchen told Startland News. “We know the narratives being…
LISTEN: Fermenting a clean future through products from meat alternatives to skin creams and baby formula
On this episode of Startland News’ Plug and Play Topeka founder podcast series, we chat with Francesca Gallucci of Natáur, a Baltimore-based biotech company that’s reimagining how essential nutrients are made. Combining synthetic biology, metabolic engineering, and eco-friendly fermentation, they’re producing bio-based taurine (and other naturally occurring sulfur compounds) without relying on petroleum. Gallucci takes…
KCMO slashes fees for outdoor dining permits, launches dining trail for grant winning projects
Kansas City has officially eliminated outdoor dining permit fees, reducing the cost from $850 to zero, thanks to the momentum created by a city-led initiative to encourage investment in outdoor dining experiences, city leaders announced this week, unveiling new plans to promote funded businesses and their projects. Launched in 2024, the Outdoor Dining Enhancement Program…