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Perhaps a state-sponsored venture fund for bioscience companies is not too farfetched an idea for Maryland.
Ernst & Young (www.ey.com) and MdBio (www.mdbio.org) recently submitted a feasibility study on a state-supported venture fund to the Maryland Department of Business and Economic Development. The state agency is supposed to respond by the end of this month and make a recommendation to Gov. Parris Glendening, says Rene Salas, a life sciences analyst for Ernst & Young's Mid-Atlantic office.
Salas could not divulge the results of the study, but says other states have created state-backed bioscience venture funds with the help of private sector businesses. …