By: Deborah Johnson Wood
Of the 650 estimated biotech and medical device businesses in Michigan, 313 of them want in on creating two virtual companies to elevate the state as a leader of life science innovation and production in the global marketplace. The response came after an announcement made last week at MichBio, Michigan's largest gathering of life science experts, educators, and investors.
Michigan Life Science Network (MLSN) announced its intent to create Michigan Virtual BioPharma Company, LLC, and Michigan Virtual Medical Device Company.
"We were really slammed," says Michael Debiak, MSLN president. "We had wall to wall people and it was continuously busy."
By leveraging each company's capabilities—research, legal services, manufacturing, or others—and connecting them with the capabilities of other biotech companies, the virtual companies will get life science products to market faster, more efficiently, and for less money than traditional methods.
Among the 313 businesses, the MSLN identified 194 distinct business management and product development services.
"The number of businesses and services is climbing," Debiak says, "because we're getting more responses by email every day."
Debiak expects to create at least seven jobs to help process information and launch the virtual companies, and plans to hire sales managers across the US and Asia as the initiative launches nationally in March, then globally in June.
"The focus isn't the jobs we'll add," Debiak says, "but the jobs that will be added by the small life sciences companies as we start to bring new business to them through this new system."
The exhibit used at MichBio begins touring November 2 at TechTown in Detroit. Debiak says the Southwest Michigan Innovation Center in Kalamazoo, and Automation Alley in Troy are also interested in hosting the exhibit.
Source: Michael Debiak, Michigan Life Science Network
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Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].
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