Tennessee Becomes 25th State To Form Biotechnology Association

Washington, D.C. (April 15, 1999) -- The Biotechnology Industry Organization (BIO) announced today Tennessee has become the 25th state to form a biotechnology association representing companies and academic institutes involved in biomedical research and product development.

The Tennessee Biotechnology Association (TBA) was launched Saturday during the 2nd Annual Tennessee Biomedical Engineering Conference at Vanderbilt University in Nashville. Joseph Gregory, vice chairman of King Pharmaceuticals in Bristol, Tenn., will chair the new state association.

"We are very excited to have such an enthusiastic, statewide commitment to improving opportunities for biotechnology and biomedical research and development in the state," Gregory said. "We have received numerous funding commitments including a pledge for first-year matching funds from the Tennessee Technology Development Corp."

The Tennessee Technology Development Corp., formed last year by the state's Department of Economic and Community Development, has committed up to $50,000 in matching funds to assist the TBA. The association will function in support of Tennessee companies, academic institutes and centers of excellence conducting research and development in biotechnology products, pharmaceuticals and medical devices.

In addition to Gregory, other TBA board officers include Dennis Grimaud, president; Larry Evans, treasurer; and James McElroy, secretary. Grimaud is president and CEO of Cytometry Associates, in Nashville. Evans is a partner with the accounting firm, PricewaterhouseCoopers, in Nashville. McElroy is a partner with the law firm, Baker Donelson Bearman and Caldwell, in Nashville. The association's founding members will be announced later this month.

Patrick Kelly, BIO's director of state government relations,said, "We look forward to working closely with the Tennessee Biotechnology Association. We are impressed with the substantial R&D infrastructure already in place in the state and we anticipate that the association will further improve the climate for biotechnology companies in Tennessee. The TBA joins a growing network of state biotechnology associations affiliated with BIO. There are now 25 state biotechnology associations and all of them play pivotal roles in supporting the growth of the biotechnology industry."

For more information about the Tennessee Biotechnology Association, contact Gregory at King Pharmaceuticals (423-989-8112).

BIO represents more than 850 biotechnology companies, academic institutions and state biotechnology centers in 47 states and 26 nations. BIO members are involved in the research and development of medical, agricultural, industrial and environmental biotechnology products.