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Leaders look to future of biotechnology

By Ben McNeely | Media General

Published: October 9, 2009

CHARLOTTE — The Charlotte metro region rates very strong in biotechnology, with more 700 companies and about 90,000 workers.

Lt. Gov. Walter Dalton told these numbers to about 400 attendees at the Charlotte Biotechnology Conference at UNC Charlotte on Thursday. The numbers are part of the preliminary results from a market study to determine where the Charlotte biotech industry rates in the state.

"I think the future is bright for Charlotte and North Carolina," Dalton said. "Being a leader in biotech is a positive thing for the state and the region."

The biotech cluster study, sponsored by the N.C. Biotechnology Center, the Charlotte Chamber of Commerce, Central Piedmont Community College and the Charlotte Regional Partnership, aims to show where Charlotte ranks as a region in biotechnology and related industries.

While Dalton did not give too many figures away, he did say Charlotte leads in the four main areas of biotech — marine, industrial, agriculture and health-related.

Dalton also said while the average salary for the Charlotte region is about $40,000, the average salary for biotech jobs is about $69,000, and biotech jobs are growing five times faster than jobs in other sectors.

Statewide, the impact of the biotech industry this year alone has been about $45 billion, Dalton said.
"Charlotte can feel very, very good about itself," he said.

But the recession has taken its toll on growth in the biotech field, and venture funding is always the hobgoblin of start-up companies.

Venture capital has been hard to come by, said Simon Pedder, CEO of Chelsea Therapeutics International, a Charlotte-based pharmaceutical company, during a panel discussion about the Charlotte biotech industry.

"Many of the funds that, historically, invested in biotech, in New York and San Francisco, just closed their doors," Pedder said. "They decided to move on to something else."

The investing outlook is getting better, however, because the economy is improving and new investors are coming on board.

"The patient is off life support," Pedder said. "I couldn't have said that a year ago."

But the bar is set higher for start-ups looking for initial investment capital, said Todd Wiebusch, CEO of Saebo, a Charlotte-based medical device company.

"You've got to have a clear path to profitability," he said.

In growing the brand of Charlotte as a biotech cluster, the key is getting the word out about what the region has to offer, said Tammy Trexler-Whaley of Duke Energy.

"Charlotte is mentioned more and more — part of that is because of the N.C. Research Campus," she said. "The Research Triangle Park hasn't stopped talking about itself, and it's been around for 50 years. We've got plenty of stories to tell, we just have to get them out there."