State Approves Tax Credit to Columbia Life Science Incubator

3 years 9 months 2 weeks ago August 09, 2013 Aug 9, 2013 Friday, August 09 2013 Friday, August 09, 2013 4:24:00 PM CDT in News
By: Yuqing Pan, KOMU 8 Reporter
loading

COLUMBIA - The Life Science Business Incubator Center (LSBIC) in Columbia may serve more companies with a tax credit recently approved by the Missouri Department of Economic Development.

The state approved a $500,000 tax credit for six small business incubators around the state. The LSBIC will receive $122,148, which is the second largest amount.

Jake Halliday, CEO and President of the LSBIC, said the tax credit is granted to private entities as incentive to continue donating to the incubator.

"We need to raise private donations to build the remaining 4,000 square feet of this facility. When we build, we will be able to accommodate five, seven, eight more companies in that building," Halliday said.

The state is monitoring the performance of each incubator, he said, and the LSBIC had generated the results it wanted.

"In the last twelve months, the companies in this incubator have attracted almost 12 million dollars, in investment and in other federal grants for their research and development. Forty one jobs have been created," Halliday said.

"We have companies here who have moved from other parts of the United State and, in fact, from around the world, and chosen Columbia, Missouri, as their U.S. headquarters," Halliday said.

An Australian company is scheduled to visit soon, he said.

The LSBIC is home to 25 start-up high-tech companies.

About three years ago, Dr. Kenneth Gruber moved his biotech company Tensive Controls, Inc. from North Carolina into the LSBIC.

Gruber said it is very expensive for a company to build an animal facility for research by itself. He said while many universities have business incubators, very few of them allow companies to access animal facilities.

"So I started searching on the Internet for an business incubator that allows us access to the animal facility. And one of the results popped up on my Google Search, was the Life Science Business Incubator in Columbia," Gruber said.

"I emailed Jake in the early afternoon in Labor Day and within two to three hours, I have a very positive response. And we were arranged to visit, to see whether it would be a fit for us," Gruber said.

He said this was the story he has told to many people, including to the state legislators.

Gruber said he and senior scientists have been working for years to make drug out of a compound called peptides. Gruber said peptide is short-lived, and their research is to make it long-lasting in human bodies. He said one primary use for the drug would be to treat cancer.

"It may not seem exciting to you, but to me, it's my life," senior scientist Tariq Shah said as he monitored the content of peptide on a computer screen.

"People may not want to give their money to companies in this building, but when they see what we are doing here, it will make more sense what a great thing it is," Shah said.

Gruber said the university veterinary clinic would conduct a trial of his drug in companion animals that have cancer. He said the dogs would be recruited from owners in the community.

Gruber said the company is going to the FDA in the fall with these drugs.

"To get their input of what they want see us finally do before they would give us what's called an ‘investigative new drug application approval', that we can then take into human studies," Gruber said.

Halliday said, "These companies have substantial researching development that must be completed before they are able to sell their product."

To apply for the LSBIC, Halliday said, a company must have an acceptable business plan and the possibility of 20 million of annual sales after five years.

For more information, visit LSBIC website.

 

More News

Grid
List
SEDALIA (AP) — A central Missouri man has been ordered to spend 12 years in prison after pleading guilty to... More >>
17 minutes ago May 29, 2017 May 29, 2017 Monday, May 29 2017 Monday, May 29, 2017 6:12:00 AM CDT in News
COLUMBIA – The MU Veterinary Health Center recently added a new section - the Motion Analysis Laboratory - to track... More >>
8 hours ago May 28, 2017 May 28, 2017 Sunday, May 28 2017 Sunday, May 28, 2017 9:46:00 PM CDT in News
MORGAN COUNTY - The National Weather Service (NWS) from Springfield, Missouri has conducted a review of damage in extreme southeastern... More >>
12 hours ago May 28, 2017 May 28, 2017 Sunday, May 28 2017 Sunday, May 28, 2017 6:09:00 PM CDT in Top Stories
COLUMBIA – Volunteer security guards and local police officers are making sure the 29 th Annual Salute to Veterans Air... More >>
16 hours ago May 28, 2017 May 28, 2017 Sunday, May 28 2017 Sunday, May 28, 2017 1:43:00 PM CDT in News
BRANSON, Mo. (AP) — Authorities have recovered two bodies and are searching for a third person after their vehicle was... More >>
16 hours ago May 28, 2017 May 28, 2017 Sunday, May 28 2017 Sunday, May 28, 2017 1:38:00 PM CDT in News
ST. LOUIS (AP) — Relatives of two of four people killed when a steam-filled tank weighing nearly 2,000 pounds (900... More >>
16 hours ago May 28, 2017 May 28, 2017 Sunday, May 28 2017 Sunday, May 28, 2017 1:33:00 PM CDT in News
ST. LOUIS (AP) — St. Louis police say a man who barricaded himself inside a home repeatedly fired at officers... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 6:54:00 PM CDT in News
KANSAS CITY, Mo. (AP) — Kansas City, Missouri, police say they are searching for a man who shot two people,... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 6:46:00 PM CDT in News
COLUMBIA - A new business pushes it’s clients to their limit and has them sweating bullets. Two former NFL... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 5:06:00 PM CDT in Sports
COLUMBIA - A resettlement agency supporting refugees had a surplus in donations, so it decided to sell some of its... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 4:47:00 PM CDT in News
As of 6:00 p.m. 23,491 Electric Cooperative member-consumers are without power As of 5:37 p.m. Saturday, Ameren reports that... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 4:21:00 PM CDT in Top Stories
JEFFERSON CITY - Traditional Native American food, crafts and dancing can be found at the tenth annual "For the People"... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 3:48:00 PM CDT in Top Stories
COLUMBIA - Two teens were arrested early Saturday morning in relation to an armed robbery Friday night. Columbia Police... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 3:46:00 PM CDT in Top Stories
BOONE COUNTY - One person was extricated from a vehicle and taken to the hospital with serious injuries after a... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 2:53:00 PM CDT in Top Stories
COLUMBIA— The start of the ninth annual Pedaler’s Jamboree was held on Saturday. Nine years ago when the event... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 2:24:00 PM CDT in Continuous News
COLUMBIA - The 29th Annual Salute to Veterans Air Show is scheduled for Saturday, May 27, and Sunday, May 28... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 2:10:00 PM CDT in News
JEFFERSON CITY - Three people were taken to hospitals by emergency personnel following a three-car wreck Saturday morning. A... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 1:08:00 PM CDT in Top Stories
COLUMBIA – Public pools in Columbia opens for Memorial Day weekend, but they are still looking for more people to... More >>
1 day ago May 27, 2017 May 27, 2017 Saturday, May 27 2017 Saturday, May 27, 2017 11:29:00 AM CDT in News
Columbia, MO
Broken Clouds 61°
7am 56°
8am 62°
9am 70°
10am 75°

Select a station to view its upcoming schedule:

Coming Up Next

6:00a
KOMU 8 News Today
7:00a
Today
11:00a
Rachael Ray
6:00a
King of the Hill
6:30a
King of the Hill
7:00a
Cheaters

Tonight's Schedule

7:00p
2017 Stanley Cup Final
7:00p
Supergirl
8:00p
Whose Line Is It Anyway?
8:30p
Whose Line Is It Anyway?
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld