E&I Summit Focus: Marketing Your Story

The 2023 Entrepreneur & Investor Life Sciences Summit featured a presentation on "Marketing your Company Story". The focus was on telling your story to investors in a way that is relatable. Presenters included Jeff Walker and Chelli Miller of Content Carnivores, an investor and public relations group with offices in Utah and Illinois, David Politis, a well known local public relations expert, and Jack Boren of Epic Ventures. Tune in to see what they had to say. 

BIO International Convention

June 5-8, 2023

Boston Convention & Exhibition Center
Boston, MA

Stand Up for Science at BIO 2023. It’s time to inspire, honor, and recognize the true value of the breakthrough work biotech performs for society. Today. And every day. Well into the future.

Apply for a Utah Manufacturing Modernization Grant

The $10 million Utah Manufacturing Modernization Grant incentivizes Utah businesses to modernize, establish, relocate, retain, or develop manufacturing in the state. Its goal is to modernize Utah companies’ manufacturing, increase supply chain resilience, and lessen American dependence on foreign manufacturing.

Applications for the grant will open approximately July 1, 2023, for a very short two-day window.

Details will be released approximately June 1, 2023.

Governor's Office of Economic Opportunity Tours Northern Utah Life Sciences companies

BioUtah on Wednesday hosted tours of life sciences companies in Ogden and Utah for officials of the Governor's Office of Economic Opportunity (GOEO). Ryan Starks, GOEO executive director, was joined by GOEO staff Lance Soffe and Sherry Stevens.

Companies visited included Fresenius, IBEX and Spartronics. Fresenius is a worldwide leader in manufacturing essential products for kidney dialisis. IBEX is a growing animal research company, providng a much needed service for drug and device innovators. Spartronics is making its mark as a contractor for specialized circuit boards and medical device assembly.

Recognizing that Utah is home to the fastest growing ife sciences community in the nation, GOEO is helping to champion and advance the industry, offering companies a number of grant programs and tax incentives. Executive director Ryan Starks also spoke at an induatry luncheon that same day. See the following article.

BioUtah and Utah State University Host Networking Lunch for Industry and Academia

As part of the life sciences tours, BioUtah and Utah State University (USU) brought together university and industry representives for a luncheon meeting on campus, with presentations by BioUtah, GOEO, university researchers and Pat Jones with the Women's Leadership Institute. The luncheon was followed by tours of two university life sciences laboratories.

Jennifer Seelig, director of community partnerships, worked with BioUtah to plan and organize the event held at the David B. Haight Center. Representatives from USU included Lisa Berreau, VP of research, Christian Iverson, director of technology transfer services, Abby Benninghoff, interim head, Dept of Animal, Dairy and Veterinary Services. Also in attendance were university representatives from many other colleges and departments. Companies participating included Thermo Fisher, EliTech Group, Cytiva, Paragon Medical, Frontier Specialty Chemical, Quansys BioScience, IBEX Research, FlintBio and Spartronics. Also in attendance was State Senator Chris Wilson.

"This was a first of its kind gathering of industry and academia in Cache County to network and collaborate," said Kelvyn Cullimore, president and CEO of BioUtah. "To add GOEO and Women's Leadership Institute enhanced the event bringing focus to the strong contributions of life sciences companies in Northern Utah."

Medventures Acquires Canyon Labs

Utah-based MedVenture Health has announced the acquisition of Canyon Labs to add regulatory and laboratory testing services to its portfolio. With the newest technologies and equipment in microbiological, physical chemistry, medical device and pharmaceutical laboratory testing, MedVenture believes that Canyon Labs has positioned itself to become a leader in the regulatory and laboratory testing spaces.

“Our commitment to bringing the very best in regulatory and testing services to the health and wellness community made this partnership with MedVenture an easy decision for our business,” said Dr. Haven McCall, CEO of Canyon Labs.

Pathos Acquires Known Medicine

In a post on LinkedIn this week, Andrea Mazzocchi, CEO of Known Medicine, announced that the company had been acquired by Pathos.

Details of the transaction were not disclosed. Known was founded in 2020 by Mazzocchi and Katie-Rose Skelly with the simple mission to improve the lives of cancer patients. The Known team will continue to operate here in Utah and leverage the relationship with Pathos to accelerate a robust oncology pipeline based on precision medicine.

Commenting on the transaction, Andrea Mazzocchi stated, "We are joining an experienced team of ex-founders and drug developers with an aligned mission of improving cancer patients' lives."

Webinar on Partnering with NIH

BioUtah hosted a webinar this week with Micheal Salgaller of NIH who leads the Technology Analysis and Marketing Unit within NIH's Technology Transfer Center. Dr. Salgaller articulated ways in which companies may interact with NIH as a partner beyond just the well-known funding options. He discussed how technology commercialization and economic development are part of the NIH mission. More importantly, he explained that companies, not just academia, can partner with NIH for research.

Access his slide deck HERE.

Watch Webinar Recording »

Dynatronics Announces Planned Resignation of CEO John Krier; Brian Baker Appointed Successor

Dynatronics' CEO and Director, John Krier, has announced his intention to resign from the company by the end of September 2023 to pursue other professional interests. Brian Baker, the company’s current COO, and former president and CEO, has accepted the role of president effective immediately and will assume the titles of president, CEO and director after Mr. Krier’s departure. Dynatronics is a leading manufacturer of athletic training, physical therapy, and rehabilitation products.

Commenting on the leadership changes, Krier said, “Elevating Brian Baker to the role of president and subsequently chief executive officer provides seamless executive leadership to our customers, employees, and shareholders."

Altitude Lab Relocates to the Gateway

Incubator, Altitude Lab, will be leaving the University of Utah's Research Park to grow its operation in the Gateway’s BioHive hub. as part of Recursion’s expanded headquarters. The incubator will open in the new location in June 2023.

Launched in 2020, Altitude Lab has incubated 17 startups to date. These companies have successfully secured more than $92M in seed financing and, based on available data, have earned more than 70% of all healthcare seed financings in Utah.

“In our new facility, Altitude Lab continues to reduce barriers to entrepreneurship and increase racial and gender representation in healthcare innovation...," said Chandana Haque, executive director of Altitude Lab.

Clene Awarded Grant From National Multiple Sclerosis Society

Clene has received a grant from the National Multiple Sclerosis Society via the organization’s Fast Forward Program, a competitive, expert-reviewed funding opportunity to support commercial organizations that are developing new therapies for the treatment of multiple sclerosis.

“We are thrilled to be the recipient of a prestigious Fast Forward Grant and eager to advance our understanding of CNM-Au8 in the treatment of non-active progressive MS,” said Karen Ho, Ph.D., VP of translational medicine, of Clene Nanomedicine. Positive results from this study will extend the demonstration of brain target engagement of CNM-Au8 to non-active progressive MS as well.”

Metrodora Institute Featured in Fast Company

BioUtah member, Metrodora Institute, was recently featured in an article published by Fast Company. The article focuses on the journey of founder Fidji Simo from Instacart to Metrodora. "[Simo] was inspired to start Metrodora after dealing with endometriosis during pregnancy and then falling sick again with another chronic illness, postural tachycardia syndrome, or POTS, which is triggered when a patient’s heart rate increases rapidly upon standing, causing light-headedness...She wanted to create a clinic that would emulate cancer treatment centers like Houston’s MD Anderson, where silos between fields are removed, and treating a patient can involve many different specialists working together. "

Metrodora Institute, a $35 million clinic and research facility is dedicated to treating women with neuro-immune axis disorders.

Read the Article »

Myriad Genetics Adds Folate Receptor Alpha to Precise™ Oncology Solutions Portfolio

Myriad Genetics has announced the addition of Folate Receptor Alpha (FRα) to its Precise™ Oncology Solutions portfolio. The new biomarker adds another companion diagnostic option for providers to help guide treatment decisions for patients with ovarian cancer.

“FRα, alongside germline and homologous recombination deficiency status, can be a powerful biomarker for patients with ovarian cancer to create a comprehensive treatment plan,” said Ramez N. Eskander, associate professor in the Department of Obstetrics, Gynecology, and Reproductive Sciences at UC San Diego School of Medicine. “Patients will benefit from Myriad’s addition of FRα testing..."

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Deseret News features Op-ed on Research's impact on creating jobs and supporting businesses

In a recent op-ed article published by the Deseret News, the University of Utah's Erin Rothwell described the impact the university's research has on the local community.

"Over 8,000 [University of Utah] employees are compensated by research dollars, and over the last three years, research has supported $598 million in wages in our state," wrote Rothwell. "In the last three years, the U launched over 30 startup companies."

Read the article »

Canary Speech Accelerates AI Speech Analysis Technology with Microsoft Cloud for Healthcare Integration

Canary Speech announced this week that it will apply the power of artificial intelligence (AI) voice analysis technology to address a variety of mental health challenges and enable early intervention, reduce healthcare costs, and scale remote patient monitoring (RPM) solutions.

"Canary Speech continues to pioneer the path in creating, validating and commercializing speech-as-a-biomarker in a way that is transformative for patients and clinicians," said Henry O'Connell, co-founder and CEO of Canary Speech, of the newly formed collaboration.

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Renalytix selects EVERSANA® to expand commercialization of KidneyIntelX for Early-Stage Kidney Disease Prognosis Detection in Patients with Type 2 Diabetes

Renalytix, the first company to develop and commercialize an artificial intelligence (AI) powered in-vitro diagnostic for kidney disease, has selected EVERSANA, a global leader in life-science commercialization services, to expand the company’s commercial footprint for KidneyIntelX, a prognostic device for patients with diabetic kidney disease.

“We believe that patients deserve the best options every day in their healthcare journey,” said Jim Lang, CEO at EVERSANA. “What Renalytix has created has the potential to impact millions of lives through early-stage preventative care…”

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Workforce Services Highlight: Hiring Youth

Does your business plan include strategies to engage youth as part of your workforce? Hiring youth helps you develop talent, build economic success and sustainability and prepare for the future.

With your support, a young employee can help your workplace flourish. Get the facts about advantages of hiring youth. Their enthusiasm, innovation and skill fostered by your investment in their future is a win-win proposition. It’s an investment that can turn into a real asset.

New Bronze Elite Member: Nusano

Nusano is a medical technology company that creates radioisotopes—tiny tracers used by doctors to diagnose and treat cancer and other diseases. Doctors use these tiny tracers like flashlights to light up areas inside the body. They can see how blood is flowing, how organs are functioning, even how cells are growing. Advanced medicines and treatment methods also use radioisotopes to target and eliminate cancer cells with precision.

Opening in 2025, Nusano’s state-of-the-art production facility in West Valley City, Utah will produce medical-grade radioisotopes currently in short supply. In addition to filling a gap in the medical field, Nusano will bring a new technology industry to West Valley City and create high-paying jobs for Utahns. BioUtah welcomes Nusano to Utah!

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Member Deal: Chubb

Chubb provides cost-effective risk management and insurance protection for biotechnology companies. Chubb’s products include property and casualty, product liability, clinical trial liability, errors and omissions liability, professional liability and cyber liability insurance. Chubb personnel specialize in the biotech market.

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Rep. Curtis Cosponsors Breakthrough Products Coverage legislation

Representative John Curtis (R-UT) has cosponsored the "Patient Access to Critical Breakthrough Products Act," a bill supported by BioUtah that would establish an expedited pathway for Medicare coverage of FDA designated breakthrough medical devices and diagnostics. The bill closely mirrors the MCIT rule that was finalized by the Trump Administration, but repealed when President Biden took office.

A big BioUtah thank you to Rep. Curtis!

BioUtah Hosts Legislative Policy Call

On Thursday, May 25, 2023 BioUtah hosted its monthly legislative policy call. The call focused on interim activity at the Utah State legislature as well as a flurry of legislation at the federal level on PBM's, drug pricing and Transitional Coverage of Emerging Technology. View the agenda HERE.

These calls are held the fourth Thursday of every month at 10:00 AM. If you would like to be added to the participant list and receive calendar invitations for the calls, please click below

Sign Up »

PBM Reforms Advance in Congress

The House Energy and Commerce Committee on Wednesday reported out a series of largely bipartisan healthcare bills, including the following measures aimed at regulating pharmacy benefit managers (PBMs), speeding generics to market and improving access to gene therapies.

• The Drug Price Transparency in Medicaid Act (H.R. 1613) which would prevent the use of spread pricing in Medicaid managed care programs.
• The PBM Accountability Act (H.R. 2679) which would provide transparency to employers by requiring reporting from PBMs on drug spending, including out-of-pocket costs and rebates.
• Increasing Transparency in Generic Drug Applications Act (H.R. 7032) which would allow the FDA to provide feedback on proposed drug formulations to generic drug applicants to help move generics to market faster.
• The Medicaid VBPs for Patients (MVP) Act ((H.R. 2666) which would provide access to high-cost drugs, such as gene therapies, by permitting state Medicaid programs to voluntarily enter into value-based purchasing (VBP) arrangements with drug manufacturers. VBP arrangements would base the price of a treatment or cure on the patient’s outcome.

These bills and others had previously been approved by the House Energy and Commerce Health Subcommittee and sent to the full Energy and Commerce Committee for consideration. Next stop for these bills will be the House floor, although timing is uncertain.

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ARPA-H opens request for information on FDA collaboration

ARPA-H has issued a Request for Information (RFI), seeking new ideas on how to best collaborate with the FDA to promote public-private partnerships, including incentives and models at the development stage and during pre-submission, submission, and post-submission interactions to help accelerate innovation.

Submissions due by May 30.

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Utah BioBreak Reception

May 31, 4:30 - 7:00 PM MT
Salt Lake City, UT

Log in with your username to see the event location and RSVP.

Utah BioBreak is an exclusive community that brings together the life science executive and investor community to share knowledge and build relationships. Members are encouraged to invite qualified colleagues to join BioBreak and attend our events. BioBreak membership and events are complimentary, thanks to our event sponsors. Questions? Email info@biobreak.org.

RSVP by May 31, 2023.

AdvaMed, NIH SBIR Workshop

June 20 & 22

The NIH provides non-dilutive federal funding through the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, awarding over $1.21 billion in R&D funding annually. This virtual workshop will guide you through how to craft a competitive SBIR/STTR proposal for NIH - ideal for companies targeting the September 5 submission deadline.

Learning Objectives:

• Strategies for targeting your proposal to meet reviewers’ expectations
• Key sections of the proposal, including commercialization plans
• Detailed review for clinical trail submissions and more...

2023 Intermountain CFO & Growth Summit

September 12, 8:00 am - 3:00 pm MT

Utah Cultural Celebration Center
1355 W. 3100 S.
West Valley City, UT 84119

Join CFOs, CEOs, CMOs, and Senior Executives at the Intermountain CFO and Growth Summit to gain insights on how to grow your business. The Summit is an event for senior executives in finance, marketing, and leadership responsible for business growth. With a focus on actionable strategies, attendees with gain insights and tools they need to succeed in an ever-changing business landscape.

Discounted registration ends May 31.

Altitude Lab: Investor Hours

Altitude Lab is officially launching its first-ever Investor Hours. This series provides exclusive 1:1 access to the healthcare startup industry's top venture capitalists from out-of-state. This is a unique opportunity to build strong investor connections. This month, they will be featuring:

• 2048 Ventures
• Arch Ventures
• MBX Capital Book

Apply for a 30-minute time slot by emailing kapil.sharma@altitudelab.org - limited slots available.

NON-DILUTIVE FUNDING: MONTHLY G2G REPORTING SERVICE WEBINARS

next webinar: June 16, 8:00 am mt

BioUtah has partnered with G2G Consulting, a Washington DC-based firm, to track the announcement of government grants available for life sciences companies. G2G recently released their May report with 194 new non-dilutive funding opportunities. Please click here to review that report. 

Every third Friday of the month, G2G hosts this online event to give life sciences companies the chance to learn about non-dilutive funding opportunities, such as grants and BAAs that could accelerate company growth.

Here are some highlights from the upcoming event to help you find non-dilutive funding:

• Improving Methods for Conducting Patient-Centered Outcomes Research -- 2023 Standing PFA (GBG pg. 17, line 65) Focused on the following programmatic priorities: Methods to Improve the Use of AI and ML in Clinical Research; Methods to Improve Study Design; Methods to Support Data Research Networks; Methods Related to Ethical and Human Subjects Protections. Letter of Intent Due: 5/31/23
• Industrialization and Translation of Extracellular Vesicles for use in Regenerative Medicine (GBG pg. 19, line 73) SBIR/STTR support for platform-oriented technology development associated with the production, manufacturing, and use, of extracellular vesicles as therapeutics in regenerative medicine.  Proposal Due: 6/6/23
• Joint DoD SBIR 23.2 / STTR 23.B (DoD) (GBG pg. 20, line 79) DoD SBIR program focused on the following topics: Portable, Real-Time DNA & RNA Sequencing; Computational Modeling of Human Blast Injuries; and Medical Simulations for Extreme Cold Weather Environments. Proposal Due 6/14/23.

Register For Webinar »

BIO Asia-Taiwan 2023

July 26-30, 2023

The BIO Asia–Taiwan 2023 conference and exhibition is now open for registration, with four primary tracks in biotech innovation, market and supply, investment, and regional collaboration. Register now to take advantage of Early Bird rates.

Enjoy 20% off Your Registration. Select "BIO Member Discount" when you register. Registration ends July 19, 2023, Taipei time.

World Trade Center Utah Friday Workshop: How to Grow Your Business Internationally

Friday, June 16, 9:00 AM MT
Utah Valley Business Resource Center
815 West 1250 South
Orem, UT 84058

Learn How to Grow Your Business Internationally from the World Trade Center Utah at Utah Valley University.

Presentations, workshop, and questions answered by WTC staff, business consultants, and/or international trade professionals.

International Trade Administration Resource: Market Intelligence Links by Country/Industry

International market research is key to successful export planning. The International Trade Administration's trade professionals in more than 70 international offices help keep you informed about opportunities in key markets through their Market Intelligence program. Market intelligence is listed by country or by industry. Click below for more information about individual countries.

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