Studies show Montana’s bioscience industry is a rapidly growing and high-paying segment of the economy. Co-hosted by the Montana Bioscience Cluster Initiative, this virtual panel offers insights from diverse professionals into how individual companies can effectively plan for growth, and how we can scale Montana’s biotech ecosystem. Guest speakers include Liz Marchi, Head of Community Engagement, Two Bear Capital; Choyce LaRue, Financial and Leasing Expert, Thermo Fisher Scientific; Matt Mellott, Commercial Real Estate Advisor, SterlingCRE, and Cynthia Ekberg Tsai, CEO, Healthquest.

Scaling Biotech Companies in Montana Webinar

Resources:

Questions answered in the chat:

  • Q: Can you tell me how a new life science company can get certifications and permissions to purchase controlled items like ethanol etc... when leaving the academic space?

    • A: Brigitta Miranda-Freer with Montana Bioscience Cluster Initiative: “Montana Bioscience Cluster Initiative can help you track down an answer to your technical question.”

  • Q: While Montana has very limited traditional clean rooms; we do have existing office/industrial unused space that could accommodate modular clean rooms. Is that something that could obtain financing and be perhaps an alternative companies should consider?

    • A: Brigitta Miranda-Freer with Montana Bioscience Cluster Initiative: “Yes, to some extent. However, underlying mechanicals are often an impediment.”

    • A: Matt Mellott with Sterling CRE: “That’s definitely a viable approach. Tonix is effectively building a warehouse in Hamilton and shipping in clean room containers to fill in. Financing is generally more available for warehouse than it would be for lab/r&d space. But, even warehouse projects built on spec are still difficult in the current environment. And, existing warehouse space is very tight. In Bozeman, warehouse has about 1% vacancy while Missoula has about 3%.”

  • Q: Are there any resources for investment in pre-revenue biotech that is not offering preferred stock?

    • A: Brigitta Miranda-Freer with Montana Bioscience Cluster Initiative: “I do know some accelerator programs may also offer opportunities for outside investors to invest as part of companies completing the accelerator program. Also, lean into SBIR/STTR type funding if the topics fit your areas of expertise. It's non-dilutive capital.”

  • Q: I think another big trend in Biotech is the use of AI/ML. It is interesting to think about this in terms of lab space and the need for less lab buildout. Any thoughts on this trend in the space?

    • A: Brigitta Miranda-Freer with Montana Bioscience Cluster Initiative: “I definitely saw how this phenomenon is playing out in Washington state when I visited UW. They shrunk their need for wet lab space substantially and instead have plenty of lab-adjacent bullpen space.”