West Virginia Executive Fall 2018 | Page 66

Contract laboratory services is another area that would be great for West Virginia to explore. Companies ranging from pharmaceutical giants to well-funded startups need to have experiments run, and they regularly contract out billions of dollars of work to companies overseas as well as in the U.S. There is a backlog of work at many of these contract research laboratories, and there is incredible demand for U.S.-based labs to do the work. West Virginia’s higher education institu- tions graduate thousands of students who could be employed in these labs, and we have an abundance of affordable space to build them. WVE: What kinds of bioscience research are taking place in West Virginia? BB: Companies are doing research in cancer, new ways to diagnose strokes, new manufacturing processes for chemicals and compounds, sophisticated imaging systems for exploring the structure of the brain, new ways to track and more humanely manage animals in research facilities, new drug delivery tech- nologies, replacements for opioids, human/machine interfaces that will enable lifelike and more useful prosthetics, new surgical instruments and devices that let patients recover faster from major surgery, better ways to manufacture ocular implants for patients who have cataract surgery and new ways to study how microgravity impacts humans so we can better prepare astronauts for long-term space missions. The breadth of work that West Virginians are doing is both amazing and humbling. 64 WEST VIRGINIA EXECUTIVE WVE: Tell us about the important role researchers and entrepreneurs play in this industry. BB: The researchers and their transformational research are the starting point for nearly all of this. Companies that are going to get started in this space are very likely to spring from the research that is happening at our colleges and universities. In order to help that research emerge, we either need to have a researcher who is also an entrepreneur or an entrepreneur who has some experience in starting and growing life sciences companies. West Virginia has an abundance of entrepreneurial talent in many industries, and we are working on building that bench in the life sciences by both training researchers and re- cruiting people to come work at our state’s academic institutions. WVE: What kind of support would you like to see this industry receive, and where do you think it needs to come from? BB: We would like to see greater involvement from policy leaders in West Virginia. Several, if not all, of the surrounding states have developed programs and allocated funding to promote research and commercialization in the bioscience industry. This comes in many forms, including tax credits to offset investments in startup companies, venture funds to spur new companies to the next level and matching fund programs for Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) grants.