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Biotech Firms Seek Venture Capital in St. Louis

By Kevin Lavery, KWMU

St. Louis – A conference underway this week in St. Louis pairs scientific innovation with financial investment.

Executives from more than 60 biotechnology companies are meeting with venture capital firms to try to gain private funding for their products.

Governor Bob Holden's administration has identified life sciences as one of three key industries vital for future growth in Missouri.

Holden says the state's existing infrastructure is a good fit for biotechnology.

"Every study I've read about the global economics of the 21st century center around the need for food and medicine," Holden said. "Both of those are grounded in life sciences; both of those are grounded in our agrarian background as a state and as a region. And so we're building upon our strength."

The state of Missouri has committed $12 million in tax credits over five years to its life sciences industry.