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Top tags: Connect  Education  Entrepreneurship  Advocacy  BIO  Supply Chain  Workforce Development  Benefits  BioGENEius  Cybersecurity  Digital Health  R&D Tax Credit  Tax  Training 

The Intersection of Liabilities for Digital Health Companies

Posted By Travis Holt, Partner at Brush Creek Partners, Thursday, October 19, 2017

Are you providing a technology platform to improve the way physicians communicate with their patients? Does your website help employees better use their health insurance plan? Does your software analyze post surgical patient data and provide information to reduce the incidents of infection? If so, you’re one of many companies who may be wondering what type of exposure you have to professional liability claims related to a failure of your technology.

Let’s get one thing out of the way quickly, you should assume your general liability policy will provide no coverage for a technology failure or cyber incident. While general liability is intended to cover bodily injury, almost all general liability policies have professional liability and cyber liability exclusions. A failure of your technology is going to be considered a professional or cyber exposure, thus falling into one of those common exclusions.

To better understand your professional liability exposure, you should first ask yourself.....READ THE ENTIRE ORIGINAL BLOG POST FROM BRUSH CREEK PARTNERS

Want to talk with Travis and other experts about cybersecurity and the liabilities of digital health companies?  Join us next week for breakfast on October 26th for the next installment of our Digital Health Business Series.  

Tags:  Cybersecurity  Digital Health  Education  Entrepreneurship 

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Supply chain lessons learned from this hurricane season

Posted By Journal of Healthcare Contracting, Friday, October 13, 2017

Repertoire/JHC Editor Mark Thill on Oct. 4 spoke with Scott Nelson, senior vice president of supply chain, North America, Cardinal Health; and Mike Wallin, operations manager, Penske Logistics. (Penske provides trucks and drivers for Cardinal Health’s medical segment, and helps optimize hospital delivery routes.) Here are notes from the Q&A with Scott Nelson. Click here for Penske Logistics storm stories and photos.

Thill: Any lessons learned to share with supply chain colleagues?

Nelson: Plan early and involve your customers and key business partners in that process. Look beyond what could come up as an immediate need during the situation itself and plan for multiple contingencies. Without the joint planning I described earlier between Cardinal, Penske and the providers we serve, this story would have had a very different ending.

Communicate realistic expectations with your customers. We were committed to being fully operational as quickly as possible; however we set a clear foundation that it would not be “business as usual” and there would be challenges with inbound freight and outbound volume surges from the backlog. That candor and opportunity to jointly prioritize actions to achieve stabilization built a stronger relationship with our partners.

Lastly, take care of your employees first and they will make sure that the customer is taken care of. The Penske drivers were rock stars throughout this ordeal. They were so willing to put their personal challenges aside and safety in question so our customers would get what they need.

READ THE ENTIRE STORY AT JHCOnline HERE......

Want to hear more about these topics?  Join us next week at our 2nd Annual Life Science & Healthcare Supply Chain Summit.  

Tags:  Connect  Education  Supply Chain 

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Celebrating Regional Innovation with the University of Kansas

Posted By BioKansas, Wednesday, October 4, 2017

Innovation.  It’s one of the calling cards of our industry, and one of the most exciting aspects of the work we do at BioKansas.  We work with the researchers, students and entrepreneurs around the region who are creating, developing and commercializing the latest treatments and technologies. These advances often have the potential to make a dramatic impact by increasing treatment options and improving the quality of life for patients.  One of the primary local sources for innovation in Kansas are the universities across the region, and next week on October 10th, the University of Kansas is hosting an event focused on the most exciting innovations that professors and students are spinning out of KU and KUMC. 

The Celebration of Innovation: A Startup Showcase is a half day event highlighting the most promising early stage faculty and student startups at KU.  Guests will hear from entrepreneurial KU alumni from VML and bloom, and from the researchers and entrepreneurs pushing to develop new vaccines, medical devices and diagnostics.  Among those companies that will be featured are:

hoCFD– Founded to develop, market and sell a highly accurate/efficient computational fluid dynamics (CFD) software named hoMusic (High-Order MUlti-physics SImulation Code). Comparing with existing commercial CFD software, hoMusic can deliver more accurate turbulent flow computations using large eddy simulation (LES) in much shorter turnaround time.

Hafion– Whooping cough (pertussis), a once presumed conquered disease, is re-emerging because the current vaccine is losing effectiveness. The currently-used acellular vaccine (aP) only stops symptoms and protection is short-lived. Hafion is developing a pertussis vaccine which prevents infection, not just the symptoms. The formulation is a simple, 3-4 component vaccine requiring a single administration.

Evoke Medical – Established to translate and commercialize platform technology developed by Drs. Lisa Friis and Paul Arnold, Evoke Medical is working to research & develop osteoinductive piezoelectric medical devices in order to improve patient outcomes, reduce healthcare costs, and streamline the clinical episode of care with the singular goal of improving humanity’s quality of life. Evoke leverages the human body’s mechanical biofeedback system to design disruptive “smart implants” that heal bone using natural bone forming pathways.

Digital Nanogenetics – An early stage start-up developing an automated, portable single biomolecule sequencing technology, called exonuclease time-of-flight (or X-TOF™), which employs a sequencing by subtraction strategy unique to the commercial sequencing industry while providing superior read-length and base call accuracy at a very high speed.

Exodus Biosciences – Exodus is working to develop a blood-based biomarker test for Multiple Sclerosis that will pioneer an accessible diagnostic, enabling the identification and treatment of disease to occur earlier than ever before.

Immediately following the Showcase, KU Innovation and Collaboration (KUIC) and BioKansas will host the Inventor’s Networking Reception where attendees can network with the innovative student and faculty entrepreneurs.  The annual Baxendale Innovation Award and the Best Student Pitch Award will also be given at the reception.  We know we’ll be in attendance, looking for the next big groundbreaking technology, and we hope you are able to join us in Lawrence on October 10th for this exciting event.  For more information and to register for the Celebration of Innovation, please visit http://kuic.ku.edu/celebration-innovation-registration.

Tags:  Connect  Entrepreneurship 

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A Story of David and Goliath, Bio Sciences-style

Posted By Nancy Zurbuchen, Thursday, September 28, 2017
Updated: Thursday, September 28, 2017

At one time or another, most startup founders face frustration and road blocks, seemingly coming at them from all sides.  An unsupportive family member, being turned down for investment or a loan, unable to find qualified employees.  This is normal stuff, and entrepreneurs get creative at finding other ways to make it work.

However, sometimes entrepreneurial progress is stopped cold by federal government regulation, and this is especially true for the highly regulated bioscience sector. What’s a small bio start-up to do against a big bureaucracy? Complain to anyone who will listen? Call your Senator? Hire an attorney, for heaven’s sake? What you should absolutely do is contact the Office of Advocacy -- and that’s me, your new Region 7 Small Business Advocate.

Our sole purpose is to look out for the interests of startup companies, entrepreneurs, and small business. The Office of Advocacy employs a group of really sharp, engaged attorneys who are specialists in all of the regulatory areas, such as intellectual property, employment issues, OSHA regulations, food and drug, safety, international commerce, etc. They work directly with legislators and government agency employees who are writing new laws / rules / regulations, to help ensure that its effect on small business is taken into consideration to avoid unintended consequences. Advocacy also works to change existing regulations that are over burdensome to small business.

Think of the Office of Advocacy as a resource; we also have decades of small business research data that might be helpful to your bio start-up.

-Nancy Zurbuchen, Small Business Advocate, Region 7 (MO, KS, IA, NE)
Small Business Administration (SBA) // Office of Advocacy 
www.sba.gov/advocacy
nancy.zurbuchen@sba.gov
(314) 539-6615


Nancy and the regional SBA Office of Advocacy recently hosted a regulatory roundtable in Overland Park to help identify specific regulatory barriers to small business growth.  She'll be featured in Kansas City again on October 10th, when she will participate as a panelist at our Women in Science & Entrepreneurship event.  Click here for more information and to register.

Tags:  Advocacy  Connect  Education  Entrepreneurship 

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Supply Chain: Sprout Solutions - The answer to new FSMA regulations

Posted By Casey Chasteen - Sprout Solutions, Friday, September 22, 2017

As we approach our 2nd Annual Life Science & Healthcare Supply Chain Summit on October 17th, we wanted to highlight a few companies and organizations that will be in attendance and presenting on current trends, challenges and opportunities in life science, agricultural and healthcare supply chains.  Sprout Solutions is one of those companies, and has developed technology to help companies comply with requirements for the FDA Food Safety Modernization Act.  We'll hear from CEO Gretchen Henry during the Supply Chain Summit.  Read below for a glimpse into Sprout Solutions, and get REGISTERED to attend the Supply Chain Summit to hear more.

Sprout Solutions - The answer to new FSMA regulations

At Sprout Solutions, our mission is to help you advance agriculture through technology.
 
We’ve developed a customizable software solution for both feed mills and commodity traders – one that helps you gain Safe Feed/Safe Food Certification and creates transparency in the production and delivery of animal feed.

Our two products, CommodiTrade and Milling Station, provide mills and merchandisers with accurate, Web-based tools and systems to ensure the food they produce is not only safe, but traceable – from the farmer to the end user.


This full-service solution eliminates the need for your own IT and gives you the freedom to access the product anywhere, from a computer, tablet or your mobile device.

Long-term objectives

Efficient farm management and resource efficiency – Fewer farmers have to produce more for a growing population. Technology can have a significant impact in streamlining processes for feed mills and commodity traders.

Traceability – People want to know what is in their food and where it comes from, requiring tools that manage, monitor, trace and report food safety and product quality.

Optimize daily processes – Feed mills and farmers no longer have to notify milling operations on manufacturing requirements and recipe usage. We take care of daily logistics, automatically generating bill of lading and batching documentation.

Interested in learning more? I would love to connect and talk more about your experience and potential technology solutions that can help your business become more efficient, more agile and more profitable.

Feel free to reach out to me directly or visit our website to set up a time for a free demo.
 
Thanks for your time,
Casey Chasteen
Business Development Manager, Sprout Solutions

Tags:  Connect  Education  Entrepreneurship  Supply Chain 

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The R&D Tax Credit - A First Time Opportunity for Early Stage Companies

Posted By Dennis Ridenour, Monday, September 18, 2017

Earlier this year, we here at BioKansas heard about a change to the R&D Tax Credit that could have a significant impact on the finances of many of our smallest and most innovative members.  You see, until recently, the R&D tax credit could only be used to offset income tax.  Therefore, even though many start-up and early stage companies were eligible for the credit, they could not take advantage of it because they did not pay income taxes.  As of the 2016 tax year, eligible start-up companies can use the credit to offset up to $250,000 per year in payroll taxes.  

Because of this significant change, BioKansas is teaming up with RubinBrown to host a Lunch & Learn focused on educating our members on the awesome opportunity the changes to the R&D Tax Credit present.  We hope you'll join us next Thursday, September 28th, from 11:30 am to 1 pm for free lunch, a breakdown of the opportunity and how to go about making sure your company is taking advantage of credit.  

In the meantime, here's a short synopsis of the credit, courtesy of RubinBrowns' own Richard Wile:
"On March 30, 2017, the IRS released interim guidance explaining how eligible small businesses can take advantage of the Research & Experimentation (R&E or R&D) tax credit by electing to offset their 2017 payroll tax liability instead of their income tax liability. Previously, the R&E tax credit could only be used to offset income tax liability. This prevented many startup companies from taking advantage of the R&E tax credit since they are often in a pre-revenue or early stage revenue phase and paying little or no income tax.
The R&E tax credit is a dollar for dollar reduction of tax. The net benefit of the credit is approximately 6% of qualified expenditures coming from qualified wages, supplies and contract research. The payroll tax credit is claimed on the 941 payroll tax return filed on the quarter following that in which the corporate return was filed. Excess credits can be carried forward to subsequent reporting periods.
If a qualified small business timely files its 2016 return without making the payroll tax credit election, it may make the election on an amended return filed on or before December 31, 2017."

Come out and JOIN US next Thursday, September 28th, from 11:30 am to 1 pm to hear more about the changes and how your company might benefit.  
-Dennis Ridenour, CEO of BioKansas

 

Tags:  Education  Entrepreneurship  R&D Tax Credit  Tax 

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Groundbreaking News Out of Junction City!

Posted By BioKansas, Friday, September 8, 2017

I recently had the privilege of traveling to Junction City, KS, to participate in a groundbreaking ceremony for a facility expansion for Ventria Biosciences. This new expansion, being led by BioKansas member KBS Constructors, will double the manufacturing capabilities Ventria has in Junction City and bring more jobs to central Kansas. Ventria, a longtime member of BioKansas, uses rice to express human and animal proteins for therapeutic and biotechnological applications.  It’s an amazing technology, one with tremendous potential to impact human health, animal health and agriculture. Ventria’s success is a remarkable story for Kansas and the region, and a testament that game-changing technologies can be developed anywhere in the world, even right here in the heartland.  

My wife and I are both from the heartland: her from the Lawrence/Topeka area and me from a small town outside of Omaha, NE.  We met in Boston, where we met after taking jobs right out of school.  After getting married while living in Boston, we decided to move back to the Midwest to be closer to our respective families and to start one of our own.  We began to look into the various cities in the Midwest that were within a short (read: half day) drive of both of our families.  We looked at Chicago, St. Louis, Omaha, Denver, Oklahoma City, but ultimately chose Kansas City and this region for the wealth and range of opportunities available within the life sciences.  While conditions in Kansas have changed considerably since we moved here in 2008, the region is still in a strong position to leverage its life science and healthcare assets.  There are numerous world class basic research institutions, such as the University of Kansas, Stowers Institute for Medical Research and Kansas State University, as well as facilities for some of the largest animal health, agricultural, clinical research, food science and pharmaceutical companies in the world. If you’re a scientist or researcher, a student or job seeker, an executive running a life science, pharmaceutical or biotech company, or an entrepreneur working in a STEM industry, there are countless reasons to locate you or your facility in Kansas.  These reasons range from the lifestyle-motivated – cost of living, a wonderful place to raise a family, the way of life, etc., to those that are more professionally related – a thriving industry with numerous opportunities for scientists of all levels, the low cost of running a business, the spirit of collaboration and the spirit of innovation.  

At BioKansas, we’re involved with programs across the state, and it’s through these programs that we get to see this innovation first hand.  We get to see students in Liberal, Kansas, working together with local industry partners and mentors to optimize the production of biodiesel and ethanol.  We get to work in Shawnee with an internationally-recognized high school entrepreneur who is developing a digital health application to more effectively diagnose patients with Parkinson’s Disease.  And we get to work with folks like Scott Deeter and his team of innovators at Ventria as they continue to harness the power of plant biology to change the world.  As a state and a region, it’s important that we come together to do all that we can to encourage these innovators and keep groups like Ventria Bioscience in Kansas.  This will mean working to develop innovative incentives for high growth, capital intensive companies in the life science and technology fields, and working with our educational partners to make sure there is enough talent to provide an adequate workforce all across the state.  We are proud of the success that Ventria has had to date, and we look forward to working with all of you to make sure we can report on more success stories like Ventria’s. 

 

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Topeka Science and Technology Park Task Force

Posted By BioKansas & GoTopeka, Monday, August 14, 2017
The BioKansas network stretches across the region, from St. Louis to western Kansas.  While a majority of our members are located in the Kansas City metropolitan region, one of the most interesting aspects of our role in the community is hearing about (and spreading the word about) all of the great initiatives and programs being developed in communities outside of KC.  One such community is Topeka, which boasts of major life science and healthcare organizations (Hill's Pet Nutrition and Stormont Vail Health, among others), and a number of active and engaged community leaders.  These leaders, along with community groups like GOTopeka and the Topeka Chamber of Commerce, recognize the opportunity for the city and are coming together to raise awareness of the opportunities in animal health, workforce development and entrepreneurship.  We hope you'll join us in Topeka on Thursday at the Q3 BioKansas Board Meeting & Networking Reception, where you'll have a chance to hear from these community leaders on the local efforts to raise the profile of Topeka through a number of initiatives.  You can register online for free HERE.  
-Dennis Ridenour, President & CEO, BioKansas

Given the ever-expanding Animal Health Corridor, the development and expansion of the Kansas State University north campus (adjacent to NBAF facility), along with the development of the University of Kansas west campus, there is an obvious gap (Topeka) in the expansion and growth of the corridor from Kansas City to Manhattan.

A group of business and community leaders, along with the Topeka Chamber of Commerce, have begun the process of determining how Topeka can/should participate in the continued and future growth of the Animal Health Corridor along with emerging opportunities in AgTech and Translational Health in the region. To that end:

  • A Task Force has been formed
  • Visits to proximate communities in the Corridor and adjacent communities to access and understand the economic benefit of an entrepreneurial incubator environment
  • Have hired a consulting firm to do a feasibility study and development plan to determine
  • Areas of opportunity
  • Resources required (financial, city, county, private sector)
  • Location options (possibly in conjunction with a broader re-development initiative)

While the precise nature of the opportunities and focus are still to be determined (i.e. Fintech, AgTech, logistics, etc.), it seems abundantly clear that the biosciences should/will be an area of focus.

In conjunction with the efforts of the Science and Technology Task Force, an Entrepreneurial Task Force (ETF - similar to Wichita) has also been formed and has begun to map the local resources available for start-up efforts.

Additionally, Mid-America Angels has opened a satellite effort in Topeka, and a small seed fund also has been established to begin to lay the foundation for the necessary early capital critical for attracting and retaining entrepreneurial efforts.

While still in the early stages of exploration and determination, there is a great deal of energy around this initiative.

-Duane Cantrell, CEO, Fulcrum Global Capital and Co-Chair of the Topeka Science and Technology Park Task Force

 

Tags:  Connect  Education  Entrepreneurship  Workforce Development 

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Senate Passage of FDA User Fee Package Important Victory for Patients, Medical Innovation

Posted By Biotechnology Innovation Organization, Thursday, August 3, 2017

Washington, DC (August 3, 2017) – Biotechnology Innovation Organization (BIO) President and CEO James C. Greenwood issued the following statement regarding passage of the Food and Drug Administration Reauthorization Act (FDARA) by the U.S. Senate today:

“The user fee program reauthorization package passed by the Senate today is an important victory for patients and for the next generation of medical innovation. This legislation will advance patient involvement in drug development and bring patient perspectives more clearly to bear on regulatory decisions. It also ensures that the FDA continues to have the resources necessary to carry out its critical human drug review programs, and takes steps to modernize and improve the clinical trial process, which remains the most time-consuming, complex and expensive stage of drug development.

“The reauthorization of the biosimilars user fee program, including steps to improve communication between the FDA and Sponsors throughout application review, will create a more robust and competitive marketplace for biosimilar therapies, following an appropriate period of exclusivity for innovator biologic products.”

“The legislation also contains a number of provisions that will accelerate and incentivize the entry of generic medicines to the market, which will help to contain costs through increased competition while improving consumer choice. These provisions are consistent with proposals endorsed by BIO to drive smarter spending within our healthcare system without harming incentives for innovation.

“We commend the leadership of Senate HELP Committee Chairman Lamar Alexander and Ranking Member Patty Murray for their tireless bipartisan efforts in advancing this important legislation, as well as that of their counterparts on the House Energy and Commerce Committee, Chairman Greg Walden and Ranking Member Frank Pallone.

“We look forward to working with the FDA and other stakeholders to ensure that the important patient-centric advances contained in this legislation are most effectively implemented.”  

Tags:  Advocacy  BIO 

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Building a Better Benefits Package

Posted By Connie Jabara, Employee Benefit Professionals, Monday, July 31, 2017

BioKansas members are a very diverse assortment of organizations from across the region, from single person startups all the way to enterprise size multinationals.  One of the primary roles we play within the community is to facilitate connections between relevant industry groups.  This may include connecting organizations to 1) potential future employees 2) potential collaborators 3) potential funding sources or even to 4) knowledgeable and effective service providers who can help our members navigate certain aspects of their businesses.  This Thursday, we are hosting one of these providers, Employee Benefit Professionals, for a Lunch & Learn on how to develop a benefits package that can help you recruit (and retain) productive employees.  We hope you’ll consider joining us for lunch and a great presentation on the ever-changing world of employee benefits. 
-From Dennis Ridenour, CEO of BioKansas


As a business owner, you know that your employees are crucial to your success.  You appreciate your employees and the work they do for you.  When people feel appreciated they are happier, and happy employees tend to be productive employees.  As a business owner, you also understand the effort, stress, time and money that goes into finding, hiring and training a new employee.  What if you could offer benefits that show your employees how valuable they are to your organization and how much you appreciate their hard work, thereby reducing employee turnover and increasing employee satisfaction? 

It is estimated that 78% of employees base their job decision on the benefits package. At Employee Benefit Professionals, we help you build a benefits package that not only helps you recruit new talent, but keep the talent you have happy and healthy!  In addition to health insurance, dental and vision, you can also offer other benefits similar to large corporations without breaking your bank account.  Benefits such as life insurance, legal protection, critical illness, accident insurance, and even pet insurance can be offered at no cost to you!

Join us for an interactive presentation on August 3rd to learn about how we help our clients build custom benefit packages unique to their business’ and their employees’ needs!  We can work with companies who have 1 employee or 1000 employees.  You provide the awesome career, we will help you discover benefits that will help you keep your employees happy, healthy and productive!  Click HERE for more information and to register.
-From Connie Jabara, Independent Life and Health Insurance Broker at Employee Benefit Professionals

Tags:  Benefits  Connect  Education 

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