MON AM News: Report reveals impact of Forward BIOLABS on Madison startup landscape; Biohealth tech hub coalition submits Phase 2 application

— Startups located in Forward BIOLABS have collectively received more than $360 million in grants and investment, according to the organization’s first impact report. 

More than 40 businesses have resided at the Madison-based coworking space since it launched five years ago, the report shows. Jessica Martin Eckerly, CEO and co-founder of Forward BIOLABS, notes all of the companies that have moved onto their own spaces have stayed in the greater Madison area. 

“As we celebrate these accomplishments, there are fantastic new opportunities on the horizon — to impact more entrepreneurs with our offerings and grow the recognition of Wisconsin as a hub for young companies,” she said in the report. 

Due to the capital-intensive nature of launching and growing a company in the biotech space, Forward BIOLABS provides fully equipped scientific laboratory spaces to help these companies get off the ground. 

Aaron Olver, president of the organization’s board of directors and managing director of University Research Park, says the Madison area needs this type of infrastructure for startups doing proof-of-concept work and developing prototypes. 

“Unlike other technology startups that seem to run on wireless internet, bottomless coffee and pizza, science companies face special barriers,” he said. “They often require expensive and specialized equipment, intensive technical advice and greater amounts of capital to navigate regulatory approvals and long product development cycles.” 

Eighty percent of the resident startups have UW-Madison connections, and 70% are spinoffs from the university, the report shows. 

Of the total $360 million figure received by Forward BIOLABS startups, more than $310 million has come in the form of investment. Those deals have involved more than 45 venture capital firms across at least 14 countries. The other $50 million has come through more than 56 awards, including 10 different federal agencies. 

The report includes a number of case studies highlighting specific startups that have come through the space, including Madison-based Ayrflo. This company is developing a medical device that can monitor breathing patterns in patients. Founder and CEO Guelay Bilen-Rosas notes the business can’t remain at the university and isn’t far along enough in its growth journey to get space of its own. 

“This is one of the things that makes Forward BIOLABS special — it’s ‘home’ for those of us early in our startup journey,” she said in the report. 

Gov. Tony Evers applauded the lab on its five-year anniversary in a video message, noting it’s “bringing together some of the best and brightest professionals and encouraging companies to focus on their product development, rather than on logistics and operations.” 

See the full report.

— The state’s biohealth tech hub coalition has submitted its Phase 2 application as part of an effort to land $75 million in federal funding. 

The effort, led by BioForward Wisconsin, received official designation in October as a Regional Technology and Innovation Hub from the U.S. Economic Development Association. This put it in the running for the federal dollars, which would be used for six projects aimed at enhancing the state’s biohealth and personalized medicine sectors. 

Lisa Johnson, CEO of BioForward, notes the coalition is now competing against the 30 other tech hub regions around the country for the Phase 2 funding. 

“We are excited about the opportunity as we launch our state to become a global tech hub in personalized medicine due to our highly ranked research institutions, high growth biohealth industry and a robust manufacturing ecosystem,” she said in a statement. 

One project in the proposal, the Wisconsin Health Data Hub, would establish a secure database of health information that could help bring new therapies to market more quickly and at lower cost. This effort would be led by UW-Madison. 

Another project, led by the Medical College of Wisconsin, would deploy mobile cancer screening fleets to underserved communities. The CAREScan Mobile Screening Center would also collect “valuable biomarker data” while providing screening services. 

Meanwhile, a GE HealthCare-led project would aim to “streamline” the integration of new technologies into health care systems, with a focus on personalized medicine. 

The tech hub group says these and other projects outlined in the latest application will directly create 30,000 new jobs and indirectly create 111,000 jobs over the next decade. 

See the release and listen to a podcast with Johnson

— SHINE Technologies will be working with a Maryland business called Orano to develop a pilot plant for recycling used nuclear fuel. 

Leaders of the two companies recently signed a memorandum of understanding to cooperate on the plant, which could recover nuclear material for making new fuel and “critical isotopes” used in other industrial and medical applications. 

Spent nuclear fuel still contains more than 90% of its energy capacity, according to SHINE’s website. 

Under the agreement, the companies aim to recycle 100 metric tons of used nuclear fuel per year, the release shows. 

In the United States alone, an estimated 90,000 tons of spent nuclear fuel has been stockpiled since the 1950s. The project will be based in part on Orano’s existing operations in France, which has reprocessed more than 40,000 tons of used fuel. 

Project site selection is expected by the end of the year, and SHINE Technologies CEO and founder Greg Piefer said their goal is to launch an operational pilot facility in the early 2030s. 

“This agreement for closing the nuclear fuel cycle launches our company’s planned Phase 3 business along our path to ultimately achieving commercialized fusion energy,” he said in a statement. 

See the release

— The Milwaukee 2024 Host Committee has launched a website where volunteers can sign up to help out with the Republican National Convention this summer. 

In a release Friday, the organization said it aims to recruit up to 6,000 volunteers for the event, being held July 15-18 in Milwaukee. About 50,000 visitors are expected during the convention, according to the committee’s website. 

Volunteers must be 16 years or older or have a parent or guardian with them while signing up and volunteering, the site shows. 

“Volunteers will be ambassadors for Milwaukee and Wisconsin,” Alison Prange, the committee’s chief operating officer, said in a statement. “We are looking for individuals of all backgrounds to help us give a big badger welcome in July 2024.” 

See the release and the volunteer site.

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TOPICS

AGRIBUSINESS 

– Crop budgeting tool helps farmers maximize profitability 

CONSTRUCTION 

– WisDOT will initiate $9.8M repair of Lovers Lane Road 

– Miron Construction breaks ground on $23.5M Kenosha Innovation Center 

EDUCATION 

– Weathering together: Transforming Wisconsin’s agriculture and energy with integrated weather stations – Forward in Energy Forum 

– David Bordwell, influential UW-Madison film scholar, dies at 76 

ENVIRONMENT 

– Madison lakes have thawed after historically short freezes 

FOOD & BEVERAGE

– Spring Green Restaurant, designed by Frank Lloyd Wright, gains historical recognition 

LEGAL 

– Three Leaf lawsuit alleges title firm’s error increased taxes on its Milwaukee apartment property 

MANAGEMENT 

– Jim Paetsch retiring from Milwaukee 7, Rebecca Gries taking lead on business attraction 

NONPROFIT

– United Way names new board chair, 2024 Campaign co-chairs 

POLITICS 

– Harris will tout apprenticeships in a swing state visit to Wisconsin 

– Evers vetoes Republican-backed bills slashing the income tax, cutting taxes on retirees 

– RNC host committee now actively recruiting volunteers for July convention 

REAL ESTATE 

– Hovde gets OK to demolish Mifflin Arcade. For some, it’s not OK. 

– Third Ward luxury tower releases pricing for its apartments. Penthouse tops $9,000. 

– Third Ward apartment tower’s rents, on a per square foot basis, will be the highest in Milwaukee 

SPORTS 

– Smith: For this bass angler, it’s no mere pastime: ‘Fishing saved my life.’ 

PRESS RELEASES

See these and other press releases 

Milwaukee 2024 Host Committee: Launches official volunteer recruitment efforts

SKYGEN: 2023 Pulse Report unlocks consumer insights into specialty benefits 

New Sage Strategies: Announces the launch of the High School Girl’s Leadership Conference