State Approves Tax Credit to Columbia Life Science Incubator

2 years 9 months 3 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

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
SPRINGFIELD (AP) — A southwest Missouri woman has been ordered to spend seven years and three months in federal prison... More >>
22 minutes ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 4:27:30 PM CDT in News
COLUMBIA – The Heart of Missouri United Way has invest money in 16 local programs that are addressing local poverty.... More >>
1 hour ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 3:37:00 PM CDT in News
WILLIAMSBURG – Employees at a country store discovered a historical video of Fulton. Workers at Crane’s Store found a... More >>
1 hour ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 3:32:00 PM CDT in News
JEFFERSON CITY (AP) — Missouri Sen. Claire McCaskill is pushing a bill she says is aimed at helping World War... More >>
1 hour ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 2:57:00 PM CDT in Continuous News
ST. LOUIS (AP) — Saint Louis University officials say its law school is trying to redefine itself after moving locations,... More >>
2 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 2:43:04 PM CDT in News
ST. LOUIS (AP) — Bond has been set at $1 million for a former St. Louis police officer charged with... More >>
2 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 2:38:31 PM CDT in News
COLUMBIA - The Boone County Sheriff's Department Cyber Crimes Task Force arrested Jeremy Rogers, 40, for attempted sexual exploitation of... More >>
2 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 2:24:00 PM CDT in News
COLUMBIA - The University of Missouri hired a new vice chancellor of extension and engagement. Marshall Stewart, current director of... More >>
3 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 1:16:00 PM CDT in News
SPRINGFIELD, Mo. (AP) — A Missouri woman who posted nude photos of a 15-year-old girl on Facebook has been sentenced... More >>
4 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 12:30:13 PM CDT in News
COLUMBIA - The University of Missouri is introducing a new program training primary care providers in high quality care for... More >>
4 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 12:22:00 PM CDT in News
COLUMBIA – Convenience may outweigh the cost of expensive hospital bills when choosing care at an emergency room for non-emergencies.... More >>
4 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 11:59:00 AM CDT in News
CAPE GIRARDEAU, Mo. (AP) — Cape Girardeau apparently hit the jackpot when it bet on opening a casino. City... More >>
7 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 9:47:50 AM CDT in News
COLUMBIA - I think many of us immediately think of the military when we hear someone referring to PTSD. We... More >>
8 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 8:15:00 AM CDT in News
BOONE COUNTY - Repairs to U.S. Highway 63 were expected to be underway Tuesday night in Prathersville. The repairs... More >>
16 hours ago May 31, 2016 May 31, 2016 Tuesday, May 31 2016 Tuesday, May 31, 2016 12:06:00 AM CDT in News
COLUMBIA - Dryer’s Shoe Store is one of Columbia's oldest downtown retailers, and it is running a shoe drive to... More >>
18 hours ago May 30, 2016 May 30, 2016 Monday, May 30 2016 Monday, May 30, 2016 10:13:00 PM CDT in News
GLASGOW- The Missouri River was more than six feet above flood stage levels in Glasgow Monday afternoon. The entire... More >>
21 hours ago May 30, 2016 May 30, 2016 Monday, May 30 2016 Monday, May 30, 2016 7:37:00 PM CDT in News
LAKE OF THE OZARKS - The Missouri State Highway Patrol tested new extended Water Patrol shifts this Memorial Day weekend.... More >>
21 hours ago May 30, 2016 May 30, 2016 Monday, May 30 2016 Monday, May 30, 2016 7:01:00 PM CDT in News
ST. LOUIS (AP) — St. Louis' police chief is calling the city's judges too lenient with defendants in alleged gun... More >>
23 hours ago May 30, 2016 May 30, 2016 Monday, May 30 2016 Monday, May 30, 2016 5:25:00 PM CDT in News
Columbia, MO
Broken Clouds 80°
5pm 81°
6pm 81°
7pm 79°
8pm 75°

Select a station to view its upcoming schedule:

Coming Up Next

4:00p
Dr. Phil
5:00p
KOMU 8 News @ 5
5:30p
NBC Nightly News with Lester Holt
4:30p
The Cleveland Show
5:00p
American Dad!
5:30p
American Dad!

Tonight's Schedule

7:00p
America's Got Talent
9:00p
Maya & Marty
7:00p
The Flash
8:00p
Containment
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld