Chair: David Block, CEO, Gliknik Inc.
Staff: Brian Levine, 410-727-2820
Description: The Bioscience Committee studies and advocates for public policies that will make the Greater Baltimore region attractive to biopharma, medical device and medical technology entrepreneurs as well as established bioscience companies. The committee seeks to ensure that the bioscience industry maximizes its potential as a regional economic engine.
Membership: Membership in the Bioscience Committee is open to all GBC members.
2018 Bioscience Committee news:
Nadège Lane, Tenant Representative at JLL, a global commercial real estate services company, discussed Baltimore City’s bioscience real estate market and trends at the GBC Bioscience Committee’s September 20, 2018.
The Baltimore City bioscience real estate market has a vacancy rate below 5 percent and suffers from a lack of available space to grow the industry. Johns Hopkins University and the University of Maryland system comprise the majority of lab space in Baltimore City and the remaining space primarily has limited functionality.
Recent bioscience industry real estate activity has not gone to the university-affiliated bioparks or built-out lab space, but rather to existing office space or locations outside of the city. Additionally, the pace of development in leased lab supply has slowed, resulting in limited vacancy and shallow depth of inventory.
The committee discussed a number of ideas to boost real estate options for bioscience companies, including incentives to spur the construction of new speculative wet lab space and agreed to conduct further research and recommend solutions to these issues.
The GBC Bioscience Committee met April 19, 2018 to discuss a variety of issues. First, the Committee heard a presentation on the University System of Maryland (USM) Momentum Fund. The fund was established to support promising early-stage companies in the USM ecosystem. A company is eligible is they have one of the following three: USM intellectual property; key team member a USM graduate, student or faculty member; and is located in a USM research park or RISE Zone (Regional Institution Strategic Enterprise Zone). With $10 million over four years, the fund seeks to provide a return on investment, but also support the USM ecosystem and boost its reputation as a home for premier research institutions.
The Bioscience then received an update on an ongoing project that is conducting market interviews to learn more about why local CEO and founders stay or leave the region, including the underlying causes of such actions. The Committee will additional more information and data at a future meeting.
Finally, the Committee received a brief update on the 2018 legislative session of the Maryland General Assembly. The discussion focused on the Biotechnology Investment Incentive Tax Credit legislation and possible strategies for improving the program in 2019.
During the Bioscience Committee’s February 15, 2018 meeting, members received a presentation from Greater Baltimore Committee staff regarding the 2018 legislation session of the Maryland General Assembly.
The Committee discussed the $12 million funding request for the Biotechnology Investment Incentive Tax Credit (BIITC) in the Fiscal Year 2019 budget. Last year, the GBC was able to amend the BIITC to provide some nascent bioscience companies an opportunity to apply for the incentive.
The Committee also engaged in a discussion about pending drug pricing control legislation, which could potentially harm Maryland’s climate as a state for innovation. Following that, members continued discussions about priority issues the Committee could undertake in the future.