Thursday, December 14, 2000
|FOR IMMEDIATE RELEASE|
December 14, 2000
Contact: Kathleen McMahon
First Round of Life Sciences Corridor Funds Awarded
Nearly $100 Million Awarded to Fund Proposals From 63 Michigan-Based Universities, Business and Research Institutions
The Life Sciences Steering Committee granted nearly $100 million in funds to assist 63 life sciences projects at Michigan-based universities, research institutions and businesses yesterday.The proposals approved for funding competed with more than 500 proposals requesting more than $600 million.
“This is a tremendous leap forward for Michigan’s life sciences industry.This first allocation of Life Sciences Corridor funds will serve as a catalyst to grow and develop this burgeoning industry in our state,” said Doug Rothwell, chairman of the Life Sciences Steering Committee and president & CEO of the Michigan Economic Development Corporation.“In order for life sciences to become a thriving industry, we need to strengthen the relationships between Michigan’s institutions of higher learning and the private sector.These funds will help bring together our state’s public and private sector in mutually beneficial partnerships.”
Over the next 20 years, $50 million per year from a portion of Michigan’s share of the tobacco settlement has been allocated to fund life science research, commercialization and development projects.The grants awarded yesterday were drawn from fiscal year 2000 and 2001 funds.
Awards were granted in three different categories:basic research, applied research and commercialization/product development activities.Most awards were made for up to three years of funding.
Each year, for the next 20 years, the Life Sciences Steering Committee is expected to allocate 50 percent for Collaborative Research and Development, 40 percent for Basic Research and 10 percent for Commercial Development to assist life sciences companies starting operations in Michigan.
Each proposal submitted for Life Sciences Corridor funding underwent a rigorous screening process led by the Washington Advisory Group.This group, led by the former heads of the National Academy of Sciences, National Institutes of Health and National Science Board, had a team of experts review the proposals.
The 13-person Life Sciences Steering Committee, which includes university, corporate and government representatives, makes final funding decisions.Committee members include:
- Chairman Doug Rothwell, president and CEO, Michigan Economic Development Corp.
- Dr. Donna Banks, senior vice president of global innovation, Kellogg Co.
- Dr. Lee Bollinger, president, University of Michigan
- John Brown, president and CEO, Stryker Corporation
- Mary Campbell, general partner, EDF Ventures
- Peter Corr, senior vice president, Pfizer, Inc.
- Dr. Richard M. Gross, vice president and director of research and development, The Dow Chemical Company
- Michael Jandernoa, chairman of the board, Perrigo
- Peter McPherson, president, Michigan State University
- Dr. Roger Newton, co-founder, president and CEO, Esperion Therapeutics, Inc.
- Phil Carra, vice president of government affairs and public policy, Pharmacia
- Dr. Irvin D. Reid, president, Wayne State University
- David Van Andel, chairman and CEO, Van Andel Institute
The Michigan Economic Development Corporation, a partnership between the state and local communities, promotes smart economic growth by developing strategies and providing services to create and retain good jobs and a high quality of life.