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Archive for Friday, May 11, 2012

KBA considers spending $4.9M to attract professor to K-State

May 11, 2012

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OLATHE — The Kansas Bioscience Authority expressed interest in funding a $4.9 million retention package for a professor at the Kansas State University College of Veterinary Medicine.

The money, which would be distributed over five years, would go toward attracting Jim Riviere to KSU from North Carolina State University. KBA officials said Riviere is a member of the National Academies’ Institute of Medicine and was a leader in the animal health drug field.

The package would be used for a number of different options, including salary and research support, including the funds to hire four people at the associate professor level to support Riviere’s program.

The KBA’s investment committee unanimously agreed to recommend that the authority’s full board approve the measure during its next board meeting.

The committee also made several other recommendations Thursday, including:

l A $300,000 equity investment in Olathe-based Novita Therapeutics for development and testing of an active cardiovascular medical device and two catheter-based cardiovascular medical devices. Private investors will also be investing in the company with the same terms and conditions used by the KBA.

l A $1 million investment in Xenometrics LLC, a company based in Stilwell, to retain the company’s labs, offices and staff in Kansas. The company has plans to grow from 68 employees to 99 employees over five years.

l A total investment of $1.6 million for Epic Medical Concepts & Innovations, a Mission company, to perform development and regulatory work for two neurological medical devices and funds to support the company’s hiring of 137 people over the next five years.

l A $500,000 grant for Creche Innovations Inc., of Overland Park, which creates devices for fragile infants and their caregivers, including a device that warms breast milk so that vital nutrients are delivered to the baby unharmed. The grant would support the company’s plans to hire 82 new employees and offset the cost of acquiring or committing to a larger manufacturing facility.

— Higher education reporter Andy Hyland can be reached at 832-6388. Follow him on Twitter at

twitter.com/LJW_KU.

Comments

consumer1 1 year, 11 months ago

Dance with the person you brung! If money can buy this guy from another university, how long before he goes to another higher bidder?? Almost 5 million dollars seems like a big gamble of the state taxpayers money. If he is already being funded at another U, it appears the only reason to get him to K-State is to try and steal the glory of his research. I guess we don't teach ethic's at state university's anymore.

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boltzmann 1 year, 11 months ago

" The Kansas Bioscience Authority expressed interest in funding a $4.9 million retention package for a professor at the Kansas State University College of Veterinary Medicine"

A "retention package" is money and resources you give to someone who is currently at your institution who you are trying to retain, not for someone you are trying to attract from the outside.

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JackMcKee 1 year, 11 months ago

I heard they were looking at some guy that got fired by Illinois.

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