CBSA Champions Life Sciences in 2021 with End of Year Highlights
By: Colorado BioScience Association Date: 12/28/2021
Colorado’s reputation as a leading location for health innovation continues to accelerate. In 2021, we broke the top 10 in a new ranking of top North American life sciences hubs, climbing to #8. We achieved new financing records and we are seeing entrepreneurial and established companies choose Colorado for investment and expansion.
CBSA is proud to champion the growth and health of our life sciences ecosystem and our community’s work to save and change lives around the world. Here are some of our 2021 highlights:
Capital + Growth
Life sciences companies and organizations achieved an unprecedented fundraising year, with more than $2.4 billion in financings, including state and federal grants, closed funding rounds, mergers, acquisitions, and initial public offerings. From our researchers who landed federal or state grant funding to support their breakthrough work, to our early-stage companies that closed an early funding round, to the companies that went public, we are proud of every member of our ecosystem!
Additionally, we saw companies including AGC Biologics, LightDeck Diagnostics, and Medtronic deepen their investments in Colorado. Several other companies chose Colorado for relocation or expansion, bringing new life sciences jobs to our state, including Beckman Coulter Life Sciences, Cogent Biosciences, GenapSys, Statera Biopharma, and Umoja Biopharma.
Policy + Advocacy
In a victory for our life sciences ecosystem, the state legislature passed Senate Bill 42, which included a one-time, $10 million infusion for the Advanced Industries Accelerator Grant Program following funding cuts to the program during the 2020 budget shortfall. Our Policy + Advocacy team worked closely with the Office of Economic Development and International Trade (OEDIT) and members of the General Assembly to highlight the importance of the Advanced Industries Accelerator Grant program to our life sciences community.
Additionally, the CBSA team, policy committee members, lobbyists, and coalition partners worked to amend Senate Bill 175, the prescription drug affordability review board. This legislation was signed into law with several amendments introduced by our ecosystem. A strong coalition from our life sciences community made the changes possible.
Education + Networking
Our community attended more than 30 CBSA events, including our Innovation Forward: Forum + Awards Celebration, our All-Member Meeting, opportunities for education and networking, conversations with state legislators, and roundtables with members of our Congressional delegation. CBSA continued to offer virtual opportunities throughout the year to keep our ecosystem connected during the pandemic.
Members took advantage of the enhanced CBSA Career Center for hiring and career advancement. Our community sharpened skills with training opportunities and leadership development through the Colorado BioScience Institute. Most importantly, our ecosystem supported programs to train and diversify the next generation of life sciences innovators through virtual mentoring, the P-TECH program, and teacher trainings.
Our board of directors and team wish you a happy, healthy, and restful holiday season.