University of Minnesota Bioscience Park to Receive $292 Million in Funding

Minnesota Department of Employment and Economic Development

A state-of-the-art biomedical research facility dedicated to imaging, cancer, heart disease and infectious diseases at the University of Minnesota is receiving a $292 million funding package. Minnesota Department of Employment and Economic Development (DEED) Commissioner Dan McElroy made the announcement at the BIO International Convention in San Diego.

Under the package, which was approved during the 2008 legislative session, the university will bond for the entire amount, with the state covering 75 percent ($219 million) and the university paying 25 percent ($73 million).

The project will include four new research buildings in the East Gateway District on the Minneapolis campus, including the Center for Magnetic Resonance Research, which will house the world’s largest magnet for conducting molecular cellular imaging in animals.

Other facilities in the bioscience park will be the Cancer Biomedical Research Building, the Lillehei Biomedical Research Building, and the Infectious Disease and Neuroscience Biomedical Research Building. All four buildings are expected to be completed by fall 2013.

Combined, the buildings will house 120 scientific researchers and nearly 500 support staff members.

“These new facilities will attract some of the top talent in the world who will conduct new bioscience research in Minnesota,” Commissioner McElroy said.

“This project, along with $30 million that the state has invested in related facilities in Minnesota since 2005, underscores our commitment to bioscience research.”

McElroy is leading a delegation of about 80 business, community, academic, economic development and political leaders this week to BIO, considered the premier event in the world for promoting the bioscience industry.

An estimated 22,000 people from more than 50 countries are attending the conference, which runs today through Friday at the San Diego Convention Center.

McElroy said the event will help the state showcase it strengths in bioscience and attract related businesses to Minnesota.

The theme of the Minnesota pavilion is “Culture of Innovation,” highlighting the state’s history of innovation and entrepreneurialism in the biosciences, from the invention of the implantable cardiac pacemaker by Medtronic founder Earl Bakken in 1957 to the state’s leadership in wind power and ethanol.

Pavilion displays will emphasize the state’s strengths in medical devices, animal health, renewable energy, pharma/biologics, and innovation and commercialization of bioscience products.

Minnesota is a standout in medical devices, with more than 28,000 people working in the industry in 2006 – second only to California – and about 585 medical device companies registered with the U.S. Food and Drug Administration.

More than 3,000 patents related to medical devices were registered to Minnesota companies between 2001 and 2006.

Dale Wahlstrom, CEO of the BioBusiness Alliance of Minnesota, said the bioscience sector is growing faster than most other industries and is an important part of the state economy.

“Ensuring Minnesota remains globally competitive in biobusiness matters for everyone in the whole state,” Wahlstrom said. “The average wage in the biosciences is about $26,000 higher than the average private-sector wage in the United States, and every new bioscience job added results in the creation of 5.7 additional support jobs.”

The Mayo Clinic of Rochester has joined the delegation for the first time this year. Mayo is part of a three-pronged collaboration with the state and the University of Minnesota called the Minnesota Partnership for Biotechnology and Medical Genomics.

The purpose of the venture is to position Minnesota as a world leader in biotechnology and medical genomics applications, leading to improved health care for patients and the development of new businesses and jobs in Minnesota.

The unique partnership is pooling talent and resources through $109 million in state and other support, establishing a $22 million genomics research facility, and launching 39 biotech and genomics projects.

Representatives from six emerging Minnesota bioscience companies are part of this year’s delegation, including Nanocopoeia, a St. Paul company that develops coatings for medical devices.

Other Minnesota firms with representatives at the event will be Biothera, an Eagan firm that specializes in immune health; CVRx, a Minneapolis company that is developing implantable technology for the treatment of high blood pressure; Silicon Informatics, a St. Paul company that provides high-performance desktop computing software; ISurTec, a St. Paul company that develops coating technologies for medical devices and other applications; and Ativa, a St. Paul company that is developing technology that will enable blood samples to be tested and diagnosed immediately in the doctor’s office.

Visit the Minnesota Pavilion at Booth 801 to see examples of Minnesota's culture of innovation, as well as exciting developments for the future. Minnesota: A Culture of Innovation!