In a recent media interview, I was asked to comment about synergy in the biosciences in Memphis. It was an easy question to answer. Ever since the Battelle study on the biosciences in Memphis was released in 2003, our community has been very much in sync on these issues.
Memphis-based biotech company GTx, Inc. (GTx) has recently received attention from around the United States for its promising research results for its drug Acapodene®. Studies showed Acapodene caused a significant reduction in side effects for men undergoing treatment for prostate cancer. A recent article in BusinessWeek provided an in depth look at GTx and the results of its various clinical trials. In fact, BusinessWeek gave GTx a 5 STARS (strong buy) recommendation on the shares.
Each year, the federal government gives out more than two billion dollars in Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. These grants are available to technology companies looking to commercialize new intellectual property. SBIR/STTR grants are a valuable financial resource to entrepreneurs because they do not need to be paid back. So why is it that local entrepreneurs are not taking advantage of these grants?
