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Report: Ohio's bioscience industry continues climb

With more than $1 billion in funding and 775 entities in operation, bioscience in Ohio experienced a record year in 2005, according to data released by Omeris, Ohio’s bioscience membership and development organization.

Overall, more than $1.2 billion were invested across Ohio to accelerate Ohio’s bioscience growth in 2005, a jump of more than $200 million since 2004. Funding sources include venture capital, angel fund investment, initial public offerings, SBIR/STTR, state biomedical R&D grants, and NSF and NIH grants. The largest portion ($717 million) of this funding came from the National Institutes of Health (NIH).

Ohio’s Third Frontier Project was another significant source of funding; $75.35 million were awarded to 7 various biomedical partnerships in 2005, and corresponding corporate and industry matching funds amounted to $112.45 million.

Bioscience, medical technology, and research organizations continue to thrive in Ohio. In 2005, 775 bioscience-related entities were operating in the state, ranging from the very large to the very young. Bioscience-related entities include those involved in research, development, and marketing of pharmaceuticals, diagnostics, bioinformatics, medical devices, medical equipment, and other health-related products.

The dispersion of these organizations across Ohio remains consistent with previous years, as more than half (400) of the bioscience entities are located in northeast Ohio, namely Cleveland, its surrounding suburbs, and Akron. Southwest Ohio is home to 176 bioscience-related entities, followed by central Ohio (134), northwest Ohio (37), and the southeast corner of the state (11).

Fifty bioscience companies were either launched in or recruited to Ohio in 2005, compared to 51 in 2004. One notable characteristic of this group is its diversity. From chemotherapeutic drugs (Auburn Pharmaceuticals) and therapeutics for multiple sclerosis (OncoImmune) to DNA analysis (Forensic Bioinformatics) and orthopedic screws (Merlot Orthopedix), Ohio’s newest bioscience additions are applying technology and service to a variety of market needs.

Collected by Omeris for its annual Ohio Bioscience Growth Report, the data also reveal the connection between Ohio’s world-class clinical capabilities and its bioscience industry. In U.S. News & World Report’s 2005 “America’s Best Hospitals” list, 16 Ohio hospitals were ranked among the nation’s top 176 hospitals in a variety of specialties, the third straight year Ohio was home to the most top-ranked hospitals. Due in part to its strong clinical network and medical reputation, Ohio hosted 20 percent of all clinical trials conducted in the U.S.

For complete results, the Ohio Bioscience Growth Report can be accessed on the Omeris web site at www.omeris.org/2005GrowthReport.pdf.

Omeris is a non-profit organization supported by the Thomas Edison Program of the Ohio Department of Development. Its mission is to accelerate bioscience discovery, innovation and commercialization of global value, driving economic growth, and improving quality of life in Ohio. Omeris is headquartered in Columbus, with regional business development affiliates in Cleveland, Columbus, Cincinnati and Athens.