Mainstage at the GA Life Sciences Summit

In the final session of the 2023 Georgia Life Sciences Summit, four life science venture investors joined Radyus Research CEO Marta New to discuss best practices and errors to avoid for early stage life science companies building an “investment stack” along with their perceptions of the southeast life science innovation ecosystem and its “investability.”

Mainstage at the GA Life Sciences Summit

If the life science ecosystem in Georgia were not ‘robust,’ it would not be responsible for north of $50 billion in economic impact. Venture investment in life science in Georgia, however, has lagged well behind vaunted locales like Boston and the Bay Area. Building on existing infrastructure including intellectual capital emanating from the state’s university system as referenced earlier in Tim Denning’s remarks, and upon lower cost of business operations and a high quality of life, are life science innovators in Georgia slated to have higher volumes of venture funding opportunities available to them?

In April 2022, Portal Innovations announced the expansion of its life sciences-focused venture development operation to Atlanta, in an upcoming development called Science Square.

From Portal’s announcement , “We look forward to supporting the life sciences community to allow companies to grow and scale locally. Between the CDC, and top-tier research universities in the area, we view Atlanta as one of the top emerging life sciences markets in the U.S. and would like to support continued growth here, helping it become a robust biotech startup ecosystem.”

Mainstage at the GA Life Sciences Summit

Matt Goldman, a partner with J2 Ventures also pointed to strong science and engineering talent, great outreach from high ed institutions’ tech transfer offices and access to high quality early stage legal advice as strengths in Georgia. 

The tyranny of geography has diminished with Covid-19 remote working. There has never been a better time to keep the science where it is and let the team do some self-selecting on where they want to be. If that science is coming from a university in Georgia, there is no longer a need for that team to uproot to Boston or the Bay Area when the technology spins out a startup company. Allowing the human capital to be where it most wants to be, as long as the core scientific team is co-located in a place with the assets and infrastructure it needs to succeed, is no longer a risk, but an asset to life science innovation and investment.

Steven Lehmann, Panelist and Portal’s Director of Venture Operations, told moderator and Radyus Research CEO Marta New that they chose Atlanta for its innovation biomarkers and leading indicators. These include grant funding, strong examples of startups spun out in the past, a mature funding ecosystem and patent generation. coming out.

We like partners that want to bet big, especially when it comes to real estate and we found that for Science Square. We are proud to invest time and money here then provide the connections to capital markets wherever they may be.

What will be the next big hit that stays here and then spins out multiple startups? That’s what’s needed most to help the life science startup environment really mature.

Joshua Eckelberry, principal with Solas BioVentures added, there is some lab space here, but more is coming which is a very good thing for the ecosystem. He pointed to strong investor rates of return in the south and midwest while “the universities and hospitals are just as smart [as they are anywhere in the country].”

Georgia Life Sciences Designates City of Atlanta as Newest BioReady® Community

By Sheran Brown • February 21, 2025
Georgia Life Sciences Designates City of Atlanta as Newest BioReady® Community

Bipartisan PBM Reform Back in Focus as House Committee Plans Hearing

By Sheran Brown • February 20, 2025
A renewed push for prescription drug cost reform is gaining momentum in Congress, with the House Energy and Commerce Committee's health subcommittee planning a hearing on pharmacy benefit manager (PBM) reform for late February. The hearing, to be led by Rep. Buddy Carter (R-Ga.), signals a revival of bipartisan efforts to regulate these pharmaceutical intermediaries. PBMs, which negotiate drug prices for insurers and employers, have become a focal point in the broader discussion of healthcare costs. A previous bipartisan agreement to regulate these entities was crafted by Carter and Rep. Diana DeGette (D-Colo.) in the last Congress, though it ultimately stalled when the larger spending bill it was attached to faced opposition. The reform efforts enjoy broad support from both parties and the president, making it one of the few areas with potential for bipartisan cooperation. However, new complications have emerged as Republicans consider using PBM regulations to generate savings for their broader policy agenda, potentially requiring up to $880 billion in cost reductions. The path forward remains uncertain, with ongoing debates about whether such reforms would qualify for budget reconciliation and whether using PBM regulations as a funding mechanism could derail bipartisan cooperation. Meanwhile, stakeholders continue to disagree on the impact of additional PBM regulation, with pharmaceutical companies arguing that PBMs inflate drug costs while PBMs contend that new regulations would increase prices.

Council on State Biotechnology Associations says NIH funds are a critical component of innovation ecosystem

By Sheran Brown • February 20, 2025
The Council of State Biotechnology Associations (CSBA) has issued a strong warning about proposed cuts to National Institutes of Health (NIH) funding, emphasizing the critical role these grants play in America's biotech innovation ecosystem. The statement, below , comes amid concerns over recent guidance that would reduce NIH funding to key research institutions. ----------------------- “Today, the US biotech industry employs nearly 2.3 million people across the US and is making positive contributions to economic impact and national security across all 50 states. In fact, for every dollar the National Institutes of Health (NIH) contributes to a successful drug, the private sector invests over $65, underscoring the agency’s unparalleled return on investment. As the associations representing the bioscience industry across the nation, the Council on State Biotechnology Associations (CSBA) is concerned by recent guidance that would cut funding provided by the NIH to universities, hospitals, and other institutions that perform critical early-stage research. NIH grant funds are a critical component of our innovation ecosystem. Grants for basic research are the spark that leads to university-driven discoveries, with public-private partnerships and tech transfers that bridge early-stage research to industry-sponsored drug development and ultimately to FDA approved medical advances for hundreds of diseases. While the administration looks for greater efficiency in the use of taxpayer dollars, it cannot be overstated - once scientific innovation moves abroad, it may never return. In the race for scientific innovation around the world, as our adversaries continue to increase government investments in research, we encourage President Trump to follow suit and ensure that we maintain our global leadership in an industry that was created and thrives across the US.”
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