Tuesday, April 23, 2024

Louisiana’s Biotech Sector Set for a Pivotal Year in 2024

by BIZ Magazine

Anticipated Growth, Collaborations, and Product Launches to Shape Louisiana’s Biotech Landscape

Louisiana’s biotech community is gearing up for a transformative year in 2024, marked by expansion, strategic partnerships, and the launch of innovative products. The projections, derived from insights shared by Louisiana researchers, physicians, and CEOs, highlight secured funding and federal approvals as key drivers of the sector’s success.

The information was released by Louisiana Economic Development, the state’s primary entity for promoting business expansion and job creation.

The anticipated growth in 2024 will witness expansions to scale operations and the incorporation of cutting-edge technologies for personalized treatment strategies. Significant collaborations are in the pipeline, with a particular focus on establishing a nationally recognized center for cancer research. Moreover, several entities across the state are strategically planning product launches with a global market expansion strategy.

AxoSim – Dr. Lowry Curley, Co-founder and CEO – New Orleans – AxoSim.com

Dr. Curley expressed excitement about integrating the new team and facilities in Minnesota. AxoSim plans to launch a Series B fundraiser in 2024, aiming to drive growth by focusing on scaling facilities, technology automation, business development, and expanding the commercial portfolio through partnerships.

BioInfo Experts – Susanna Lamers, CEO and Founder – Thibodaux – Bioinfox.com

BioInfo Experts achieved significant milestones in 2023, securing FDA Small Business Innovation Research funding. Lamers emphasized their advanced data security systems and the positive impact on south Louisiana’s economy. She highlighted the upcoming Bayou Region Business Incubator, set to open in January 2024.

Center for Molecular Imaging and Therapy – Dr. Stephen Lokitz, Interim Executive Director – Shreveport – CMITLa.org

CMIT plans to commence manufacturing 18F-FDG at its new facility in 2024, expanding into non-FDG radiopharmaceuticals. The center will acquire a new PET/CT scanner, enhancing clinical imaging and research capabilities. CMIT is hiring for various positions, including a Director of Research.

Edward Via College of Osteopathic Medicine – Dr. Savanah Newell, Discipline Chair for Anatomical Sciences – Monroe – VCOM.edu

VCOM-Louisiana anticipates a milestone in 2024 with the graduation of its first class of osteopathic physicians. Dr. Newell emphasized the potential impact of VCOM graduates on healthcare accessibility in Louisiana.

Life Recovery Systems – Matt Center, CEO – Alexandria – Life-Recovery.com

Life Recovery Systems will initiate the randomized portion of its ThermoSuit study in 2024, aiming for FDA approval of rapid cooling in stroke patients.

Louisiana Cancer Research Center – Dr. Joe Ramos, Director and CEO – New Orleans – LouisianaCancerCenter.org

Dr. Ramos outlined plans for a National Cancer Institute Designation application, with a focus on cancer research, multidisciplinary care, and addressing health disparities.

LSU Health New Orleans – Dr. Steve Nelson, Interim Chancellor – New Orleans – LSUHSC.edu

LSU Health New Orleans aims for the first National Cancer Institute Designated Cancer Center in Louisiana, fostering collaboration to enhance cancer-focused research and care programs.

Obatala Sciences – Dr. Trivia Frazier, President, CEO, and Co-Founder – New Orleans – ObatalaSciences.com

Obatala Sciences looks forward to partnerships and the launch of its newly commercialized ObaCell® Obesity-on-a-Chip technology, contributing to global efforts in combating obesity.

Oleolive – Kiley Grant, CEO – Shreveport – Oleo.live

Oleolive anticipates explosive growth in 2024, with numerous research contracts, a growing product, and a focus on mitigating the impact of new tax regulations affecting R&D expenditures.

Pennington Biomedical Research Center – Dr. John Kirwan, Executive Director – Baton Rouge – PBRC.edu

Pennington Biomedical Research Center continues to lead breakthroughs in health and wellness, focusing on understanding triggers for obesity and diet-related chronic diseases.

South Rampart Pharma – Dr. Hernan Bazan, CEO – New Orleans – SouthRampartPharma.com

South Rampart Pharma aims to continue clinical development for SRP-001, focusing on partnerships and a high-impact paper on pain relief mechanisms.

Tides Medical – Joe Spell, CEO – Lafayette – Tidesmedical.com

Tides Medical plans to introduce two advancements in wound care treatments, emphasizing innovation in regenerative medicine and personalized graft production.

The collective efforts of these biotech entities underscore Louisiana’s commitment to advancing healthcare outcomes and contributing to global medical innovation in 2024. For further details, visit the Louisiana Economic Development website.

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