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Prepared by: Lawrence Douglas County Biosciences Authority

Proposal for Developing a Life Sciences Wet Lab Incubator in Lawrence, KS. Discussion Document. Prepared by: Lawrence Douglas County Biosciences Authority. June 17, 2008. LDCBA Vision. STRATEGY **********

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Prepared by: Lawrence Douglas County Biosciences Authority

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  1. Proposal for Developing a Life Sciences Wet Lab Incubator in Lawrence, KS Discussion Document Prepared by: Lawrence Douglas County Biosciences Authority June 17, 2008

  2. LDCBA Vision STRATEGY ********** Develop life sciences industry resources by providing an infrastructure of professional talent, modern facilities, specialized equipment and capital centered around targeted core competencies at the University of Kansas and the community. City of Lawrence Douglas County University of Kansas Lawrence Chamber of Commerce CONFIDENTIAL

  3. LDCBA Vision Lawrence Regional Life Sciences Incubator CONFIDENTIAL

  4. Business Incubation • Business Incubator - facilities and programs to grow early-stage business ideas into viable companies • Over 1,200 incubators in U.S. (public, private, community-based, university-based) • University-based incubators provide access to: • R&D labs • Ideas • People • Business development resources • Most successful incubators combine building with programs CONFIDENTIAL

  5. Need for a Life Sciences Incubator • Companies wanting labs and offices in Lawrence/KU location • KU spin-offs • Emerging companies • Existing companies • Incubator is important part of overall ED strategy • Start-ups • Existing local companies • Business recruitment • Incubator will become a source of companies for a local business park • Lawrence and Douglas County competing with communities in Kansas, US, and rest of world CONFIDENTIAL

  6. Benefits of Local Life Sciences Incubator • Foster KU life sciences spin-offs • Retain local companies • Recruit life sciences companies • Foster research collaborations • Company & university • Company & company • Recruit and retain KU faculty • Support economic development (jobs, investment, larger tax base) CONFIDENTIAL

  7. Key Criteria for Local Incubator • Multi-tenant facility • KU spin-offs • Emerging companies • Existing companies • Flexible space to support wide range of life sciences companies • Expandability • Provide facilities and business development programs • Location • Community support CONFIDENTIAL

  8. Incubator Overview • 20,000 sq ft. wet-lab incubator building • Expandable to 40,000 sq ft. • Site: KU’s west campus life sciences hub • Adjacent to • Multidisciplinary Research Bldg. • Structural Biology Center • Higuchi Biosciences Center • Proposed School of Pharmacy Bldg. CONFIDENTIAL

  9. Incubator Overview • Multi-tenant Facility • KU spin-offs • Emerging companies • Existing companies • Resources • Building out labs/offices • Equipment • Product development • Business development assistance CONFIDENTIAL

  10. Incubator Operations • The incubator will be owned by the LDCBA • LRTC will manage the incubator facility • LRTC has assisted numerous life sciences companies • LRTC will provide “hands-on” business assistance services to tenant companies to accelerate their growth and increase their chances of success • Clients have raised ~$120,000,000 over the last 5½ years • Clients have created 111 net jobs with average salary of ~$66,000 CONFIDENTIAL

  11. Funding Sources Funding from the Kansas Bioscience Authority will be contingent upon $4,000,000 being raised from the local community and KU. CONFIDENTIAL

  12. Use of Funds The goal is to develop a comprehensive economic development program consisting of facilities, equipment, business assistance services and access to capital. • Notes: • Design, construction and site work for the 29,495 sq. ft. NISTAC incubator at Kansas State cost $4,513,775. • Use of funds schedule assumes constructing a new facility approximately 20,000 sq. ft. CONFIDENTIAL

  13. Next Steps - Timeline • Step 1: City & County approve $1,500,000 investment (July ’08) • Step 2: KBA approves $4,000,000 investment (Fall ’08) • Step 3: Execute legal documents (Fall ’08) • Step 4: Groundbreaking (Winter ’08 – Spring ’09) • Step 5: Ribbon-cutting, 1st Tenant (Spring ’09)

  14. New Incubator Plan vs. Old Plan Originally Approved Incubator Project (2007) New Incubator Project (2008) Total Project Budget $6,000,000 $8,000,000 $250,000 each per year over 10 yrs. $150,000 each per year over 10 yrs. City/County Investment University Investment NONE $2,000,000 Financial Leverage 4.8X 10.67X Invest Less – Buy More CONFIDENTIAL

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