Photo via AdobeBiohealth Tech Hub designation set to propel economic development in the region.
BioForward Wisconsin is the Lead Agency Driving the Region’s Role as a Global Leader in Personalized Medicine
Today, the U.S. Economic Development Administration (EDA) officially designated the Madison-Waukesha-Milwaukee region as a Regional Tech Hub, known as the Wisconsin Biohealth Tech Hub. As a result, the region will receive a $350,000 strategic planning grant from the federal government, with the ability to apply for more than $75 million in federal funding to further develop the region’s biotechnology capabilities.
According to a press statement from Governor Evers, “Much of the consortium’s efforts will be focused on personalized medicine, which combines genomic innovation, advanced imaging technologies, big data analytics, artificial intelligence computing, population health trends, and bioscience breakthroughs, with treatments carefully calibrated to a patient’s specific medical needs. It has the potential to transform medical care so patients can heal faster with less need for long-term chronic care, experience fewer side effects, and access healthcare more easily and equitably. On a broader scale, personalized medicine may be able to reduce healthcare costs by emphasizing preventive and proactive care, cutting diagnostic errors, and limiting both the health and economic impacts of rare diseases.”
BioForward Wisconsin, a statewide biotechnology association that is leading the consortium, includes Waukesha County members GE HealthCare, Xiogenix, Hydrite Chemical, SpectraMedEx, Vivid Microscopy, Stonebank LLC, DeWitt Ross & Stevens and Riley Construction.
Rachel Bahr, president of Xiogenix, said, “We are elated with the news that Southeastern Wisconsin has been designated as a Wisconsin Biohealth Tech Hub. When we think of a hub, it is a total ecosystem endeavor that involves large and small companies, startups, higher education and government all working together to solve industry-specific needs to disrupt, create, and advance, in our case, drug therapy treatments for the cell and gene market sector. We are proud to be housed in the newly manufactured Muskego Biotech building and to work with the many local suppliers that help us manufacture automation equipment and consumables for this critical market sector.”
Suzanne Kelley, President & CEO of the Waukesha County Business Alliance, said, “The Alliance was proud to be a supporting partner in achieving this groundbreaking designation for Wisconsin. This will be a game changer for Wisconsin and the Milwaukee/Madison corridor, and we’re excited about the future of the Biotech space in our region and state. We have amazing companies doing fantastic work in this space, including GE HealthCare and many others. The stage is set and it’s time to get to work!”