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V O L . X X V I I N O. X V I 70 Fact Book / Doing Business in Maine I N N OVAT I O N / R & D services, sometimes referred to as "blue tech." Richmond's Kennebec River Biosciences, one of the largest com- mercial aquatic animal health labs in the country, provides diagnostic test- ing, vaccines and veterinary consulta- tion and research to aquatic farms and fisheries businesses. Maine's blue tech companies are focused on more than just dinner by providing innovative solutions to human health problems. Salmonics, founded in October, 2020, and Lobster Unlimited, which began in 2013, have developed ways to use byproducts from the salmon farming and lobstering industries. Salmonics developed uses for blood from farmed salmon and Lobster Unlimited does the same for lobster and other crustaceans. ese products can be applied to research and human health solutions, like regenerative medicine and pain treatment. ey also reducing waste in their respective industries. Support structure e aqua-science industry receives a boost from public research institu- tions like the Gulf of Maine Research Institute, which focuses on the health of the Gulf of Maine and its bioregion. Its Gulf of Maine Ventures branch supports the creation and growth of mission-driven seafood companies through incubation and acceleration programs and funding. e nonprofit Bigelow Laboratory for Ocean Sciences, founded in 1974 in East Boothbay, focuses on ocean health, climate change and how ocean resources can be used to solve all kinds of worldwide problems. One recent research project partners with Wolfe's Neck Center for Agriculture & the Environment to study if feeding cows seaweed can reduce their methane output — a huge source of greenhouse gas emissions. Maine's human health sector also has its public research counterparts to lean on. "Jackson Lab and MDI Biological Lab, both in the Bar Harbor area, have been doing cutting edge bio- medical research for over 100 years," says Carpenter. Founded in 1898, MDI Biological Laboratory is Maine's oldest research institute devoted to life science and has made significant contributions to human health issues, including discoveries in kidney function and the health impacts of environmental tox- ins like DDT and oil and more recent studies in regenerative and aging biol- ogy and medicine. e Jackson Laboratory, founded in 1929 and now with facilities in Bar Harbor, Augusta, Ellsworth, Connecticut, California and China, has made sig- nificant contributions to science in the areas of genetics, obesity, diabetes, fertility, Alzheimer's disease, addiction and many other areas and can claims several Nobel Prize winners and early female scientists among its faculty. Carpenter notes that Maine Medical Center Research Institute in Scarborough is another equally important research institution for the state. Home to over 200 world class scientists, the Institute was officially organized in 1991 as a division of Maine Medical Center, which has a long research history, including one of the first community hospitals in the country to perform open-heart surgery in 1959. Investing in the sector's future Along with nonprofit research institu- tions, Maine's higher education system plays a strong supporting role to the industry. With 18 of Maine's colleges offering degrees in life science, compa- nies need not look out-of-state for new talent. e University of Maine is the largest feeder of bioscience graduates and is the degree-granting institution of the Graduate School of Biomedical Science and Engineering, a partnership of five Maine research institutions. e University of New England and Maine Community College System offer edu- cational and collaborative opportunities as well. e new Roux Institute, which has biotechnology as one of its four main focuses, has a residency for startups and various programs to mentor, support and invest in tech companies. Many of Maine's biotech compa- nies have strong internships, employee continuing education programs and community partnerships that make sig- nificant contributions to the growth of the industry and ensure a strong future. For example, IDEXX invests in access to STEM education by partnering with Junior Achievement, the Maine Science Festival and the Maine Mathematics and Science Alliance. City and state government programs and private investors play an important part in the industry's expansion as well. Maine has several state tax credit pro- grams geared toward encouraging the growth of its tech companies, including the Research Expense Tax Credit, the R&D Super Credit and the High- Technology Investment Tax Credit. e Maine Technology Institute, which oversees the Maine Technology Asset Fund, created by a 2007 bond, provides important capital to startups. Biotechnology is one of its seven target sectors and received its second highest funding amount in Fiscal Year 2020 at more than $1.7 million. A growing number of Maine and New England venture capital funders are investing in biotech. e biosci- ences are the largest investment sector of Maine Angels at 23% of their portfolio, according to Barbara Lamont, member- ship chair. e Angels not only invest in promising startups but also provide them with critical mentorship. Room to grow "ough biotechnology constitutes roughly 1% of Maine's economy, it is an industry that's been growing," says Carpenter, who cited 14% growth in the field between 2013 and 2018, "which rep- resents a much higher job growth than most industries in Maine," she says. Carpenter says this growth trend will continue, based on increasing major global trends, like recent research by Global Market Insights, Inc., which projects the size of the global biotech- nology market to surpass $775 billion by 2025. Biotech's ability to solve real- world problems has a significant impact on market growth. Carpenter points to the field of genetics and its potential to revolutionize how we treat patients, the increased demand for biofuel, and a raising prevalence of chronic diseases as examples of important global issues biotech companies address. e recent Coronavirus pandemic is the perfect example of the new and innovative solutions and treatments companies can create in record time. "Personally, I think Maine has the potential to be a regional continuation of the Cambridge 'Silicon Valley of Biotech,'" says Lamont. "Remote work, Downeaster train and quality of life sup- port the trend." As historically large sectors, like forestry or pulp and paper show slow growth or decline, Maine's purpose- driven biotech companies, which create high-paying jobs, are poised to be an anchor for the future of Maine's economy. Freelance writer Catie Joyce Bulay, can be reached at editorial @ mainebiz.biz » C O N T I N U E D F RO M P R E V I O U S PA G E P H O T O / C O U R T E S Y O F I M M U C E L L Immucell, a publicly traded company, focuses on the health of cattle and is based in Portland. Though biotechnology constitutes roughly 1% of Maine's economy, it is an industry that's been growing. — Agnieszka Carpenter Bioscience Association of Maine

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