Bioscience Authority approves $6 million to keep Deciphera in Lawrence

Deciphera currently has 26 employees, who work on efforts to develop new cancer drugs

? The Kansas Bioscience Authority agreed today to provide $6 million in funding to help keep a growing pharmaceutical development company in Lawrence.

The authority at its annual meeting today in Overland Park agreed to provide funding that will allow Deciphera Pharmaceuticals to move from its current facility near Bob Billings Parkway and Wakarusa Drive to a vacant building in the East Hills Business Park.

Economic development leaders were lauding the deal – which previously had been announced but never formalized. Beth Johnson, vice president of economic development for the Lawrence Chamber of Commerce, said the deal shows that Lawrence can compete with the lure of Kansas City when it comes to retaining technology companies.

“We believe this shows other companies that as a community we can offer them what they need,” Johnson said. “They don’t need to presume that they need to go to a larger community.”

Deciphera currently has 26 employees, who work on efforts to develop new cancer drugs. The company will move to a vacant East Hills building along Kansas Highway 10 that was built by economic development leaders several years ago in an effort to attract new businesses to town.

The new building will allow the company’s operations to expand from 9,000 square feet today to about 25,000 square feet. Daniel Flynn, the company’s president and CEO, said he expected job numbers to grow as well. He said Deciphera workforce could double in the next year or two, depending on efforts Deciphera is involved in to collaborate with a major pharmaceutical company on a new cancer drug.

Deciphera’s board of directors must formally approve the deal. Flynn said the board is expected to act in the next two to three weeks. Flynn said Deciphera could be operating out of the building by the summer of 2008.

The $6 million will be used to buy the building – which Deciphera then will lease from the Bioscience Authority. The money also will be used to finish the interior of the building, and construct a wet laboratory space.