“In Illinois, we’ve seen what the right environment can deliver — with recent investments from AbbVie and CSL Behring reinforcing our state’s role as a leader in biomanufacturing and innovation. And candidly, we’d like more companies to follow their lead — not fewer. That kind of growth doesn’t happen by accident. It depends on stable, predictable policies that encourage companies to invest, scale, and take risks on the next generation of treatments.

That’s why we have real concerns with the Administration’s Section 232 pharmaceutical tariffs. These measures apply broadly across pharmaceutical products and key ingredients, adding new costs at every stage of development and manufacturing. For an industry already defined by long timelines, high failure rates, and significant capital needs, this is not a small adjustment — it’s a structural headwind.

The burden will fall hardest on small and mid-sized biotech companies. These are the companies doing much of the early, high-risk work to develop new therapies, often without the resources or infrastructure to absorb sudden cost increases or reconfigure global supply chains. When capital gets redirected to tariffs instead of science, innovation slows — or stops.

There are also real implications for patients. Many therapies rely on globally sourced inputs, and introducing friction into those supply chains increases the risk of delays, shortages, and higher costs. For patients waiting on new or specialized treatments, that uncertainty matters.

We all share the goal of strengthening domestic manufacturing and securing supply chains. But tariffs alone won’t get us there — and in many cases, they may work against it by discouraging investment and introducing instability into an already complex ecosystem.

iBIO looks forward to working with policymakers on solutions that actually accelerate U.S. biomanufacturing, support growth-stage innovators, and ensure patients can access the medicines they need. Getting that balance right is critical to maintaining American leadership in biotechnology.”

What’s Included — and Why It Matters

The Administration’s Section 232 tariff action applies broadly across pharmaceutical products — and importantly, it does not stop at finished medicines.

The policy defines “pharmaceutical articles” to include not only finished drug products, but also active pharmaceutical ingredients (APIs) and key starting materials used to manufacture them  .

This means the tariffs extend across the full pharmaceutical supply chain — from early-stage development through manufacturing.

Because many companies, including those manufacturing in the United States, rely on globally sourced inputs, the inclusion of APIs introduces added costs and complexity throughout the development process. Rather than affecting only imported finished products, these tariffs can impact research, clinical development, and production timelines.

For growth-stage biotechnology companies in particular, these added pressures can be significant, as capital is often tightly allocated to advancing innovation. At the same time, increased friction in supply chains raises concerns about potential delays or disruptions that could ultimately affect patient access to critical therapies.

iBIO will continue to monitor how these policies are implemented and their impact on innovation, manufacturing, and patients.”

This hands-on, five-day summer STEM experience is designed for incoming 3rd–8th grade girls, building confidence, curiosity, and real-world problem-solving skills through interactive experiments, team challenges, and mentorship from STEM professionals.

🧪 2026 Camp Theme: Case Breakers

This year’s theme puts campers in the role of epidemiologists, forensic scientists, and engineers, applying the scientific method and inductive reasoning to solve daily mysteries. It’s science with a storyline — and a whole lot of fun.

📍 Camp Details

Who: Incoming 3rd–8th grade girls
When: July 6–10, 2026
Time: 9:00 a.m. – 3:00 p.m.
Where: Resurrection College Prep High School

Cost:

• $325 Early Bird (through April 1, 2026)
  Use code: 26EARLYBIRD
• $375 after April 1

The week concludes with a special Family Day, where campers showcase their discoveries during a STEM exhibit followed by lunch with families.

🧬 About the Program

STEMgirls Chicago is a hands-on STEM summer camp in Chicago for girls entering grades 3–8. Hosted by the Illinois Biotechnology Innovation Organization (iBIO), the week-long camp introduces students to science, engineering, and biotechnology through interactive experiments, teamwork, and real-world problem solving. Camp takes place July 6–10 in Chicago and is designed to build confidence and curiosity in STEM.

Spots are limited.

👉 Click HERE to learn more and register for STEMgirls – STEM Camp Chicago

Let’s inspire the next generation of innovators — one mystery at a time.

“iBIO commends Governor Pritzker for the proactive economic development initiatives outlined in his Operating Budget. In particular, we strongly support his proposal to modernize the Illinois Research & Development (R&D) Tax Credit by aligning it with the federal credit. This commonsense reform will reduce administrative burdens, save companies time and expense, and make it easier for innovators to invest and grow in Illinois.

We are especially grateful that the Governor has included one of iBIO’s longstanding policy priorities—making the Illinois R&D Tax Credit transferable. This is a transformative step for our startup and growth-stage ecosystem. Transferability allows companies with little or no current tax liability to monetize their credits immediately, improving cash flow and providing access to non-dilutive capital without the need for complex financing structures.

Access to capital remains one of the greatest challenges facing the startup life sciences ecosystem, as financial and investment markets continue to recover. Expanding economic tools that enable companies to tap into additional sources of non-dilutive capital will be critical to sustaining and accelerating innovation in our state.

States that have implemented transferable R&D tax credits have demonstrated measurable economic returns. Over a four-year period, comparable programs have generated a net tax revenue impact of $6.1 million, a net return on investment of 12 cents per dollar, and the creation of 915 full-time equivalent jobs. Multiple studies further show that every $1.00 in R&D tax credit can incentivize between $1.00 and $1.50 in private-sector R&D spending.

These policies will not only strengthen Illinois’ startup and growth-stage community, but also send a clear message that Illinois is at the forefront of supporting a dynamic and innovative ecosystem. By making the Illinois R&D Tax Credit transferable, our state positions itself alongside leading innovation hubs nationwide—committed to fostering breakthrough research, attracting investment, and advancing cutting-edge technologies that help patients live longer, healthier, and happier lives.”

Across Chicago and the broader region, more than 2 million square feet of new lab and R&D space have come online or are currently under development. Evanston Labs, Fulton Labs, Hyde Park Labs, and new suburban expansions signal that Illinois is no longer a market where scientific founders struggle to find space; instead, it is a market where companies can grow, scale, and commercialize. Venture firms like ARCH have launched multibillion-dollar funds from Chicago, and a wave of Illinois companies secured late-stage capital, clinical progress, and regulatory success in the last year. These developments collectively point to a state with genuine upward momentum.

Yet, as a recent STAT News analysis made clear, the national competition for biotech investment has never been more intense. Other states—particularly Massachusetts, New York, Pennsylvania, and Texas—are rapidly deploying targeted capital, translational research support, and incentive programs designed specifically to attract early-stage company formation, biomanufacturing, and innovation centers. Their strategies are already paying dividends. The clearest example is Eli Lilly’s decision to establish a major innovation campus in Pennsylvania, a state that has spent more than four decades building early-stage commercialization infrastructure through Ben Franklin Technology Partners. Pennsylvania didn’t win that project by accident. It won because it invested early and maintained that commitment consistently over time.

This illustrates a critical point for Illinois: while we have built a solid foundation for life sciences growth, and while our trajectory is strong and accelerating, we are competing against states that are making larger, more targeted, and more coordinated investments. The playing field is not static. Other states are moving aggressively, and Illinois must match that ambition if we want to shape the next decade of biotech growth rather than react to it.

The 2024 iBIO Venture Portfolio Report highlights one of the most pressing challenges in our ecosystem: early-stage capital scarcity. In 2024, 50% of Illinois venture dollars went to late-stage companies, another 35% to Series A, and only 15% to seed and pre-seed companies. That 15% represents the beginning of the pipeline—the moment when scientific founders decide whether they can build their company in Illinois or whether they need to move to Boston, New York, the Research Triangle, or Austin to find the capital, lab access, and translational support that early-stage biotech requires. Illinois has exceptional scientific research, world-class universities, and deep clinical expertise, but without stronger mechanisms to support early teams, too many opportunities risk leaving before they have the chance to become Illinois companies.

To secure our competitive position, Illinois should adopt a set of targeted, proven strategies already generating results in peer states. First, the state should create a translational proof-of-concept and IND-enabling grant program. Other innovation hubs—including Massachusetts through MLSC, New York through its LifeSci programs, and Pennsylvania through Ben Franklin—fund this stage directly, bridging the gap between promising university science and venture-ready commercialization. Illinois lacks this type of program, and adding it would significantly increase the volume and viability of startup formation emerging from Northwestern, UChicago, UIUC, UIC, Rosalind Franklin, and other research engines.

Second, Illinois should strengthen support for pre-seed lab access and equipment. While our lab footprint has expanded dramatically, affordability remains a barrier for very early-stage founders. New York City’s LifeSci NYC initiative and Massachusetts’ shared-infrastructure grants directly subsidize space and equipment for young teams. Illinois is well-positioned to adopt a similar approach; doing so would help retain talent and IP, ensuring more scientific breakthroughs become Illinois companies rather than exports.

Third, the state should develop a life-sciences-specific R&D or jobs tax credit, focused on the capital-intensive, long-duration nature of biotech development. Massachusetts ties its tax incentives directly to life sciences job creation. New York offers refundable R&D credits tailored to biotech. Texas uses its Enterprise Fund to land major biomanufacturing sites. Illinois has strong generalized incentives, but targeted programming would enhance our ability to compete for the next wave of expansions and manufacturing projects.

Finally, Illinois should consider launching a dedicated Illinois Life Sciences Capital Fund, in the range of $200–500 million. Other states have already built this model: Massachusetts has deployed more than $2.1 billion through the Massachusetts Life Sciences Center; New York has committed over $1.1 billion across its LifeSci programs; and Texas’ CPRIT initiative has invested $6 billion into cancer research and commercialization. Illinois does not need to match these totals to be competitive, but a dedicated, multi-year fund would send a powerful signal that the state is serious about leading in the sector. We have already demonstrated—through our $500 million commitment to quantum and microelectronics—that Illinois knows how to make a transformative investment capable of attracting national attention. Applying a similar strategy to life sciences would catalyze company formation, accelerate capital attraction, and anchor Illinois’ position in the national landscape.

Illinois has everything it needs to become one of the most competitive, dynamic life sciences hubs in the United States: talent, institutions, infrastructure, research excellence, and a growing base of companies. The progress we have made in recent years is significant and deserves celebration. But momentum alone is not enough. If we want to keep the companies we are creating—and attract the next generation of biopharma, medtech, diagnostics, and advanced therapeutics firms—we must strengthen the earliest parts of the pipeline and make targeted, strategic investments that ensure Illinois remains a place where founders can start, scale, and succeed.

The opportunity is here. Illinois’ recent momentum shows what is possible. Now is the time to secure our competitive edge and build the next decade of life sciences leadership in Illinois.

The profile traces the company’s journey from its early work in 3D-printed bone scaffolds to its ambitious new focus: growing simplified, functional “mini-livers” capable of keeping patients alive while a damaged liver recovers or while they wait for a transplant. CEO Caralynn Nowinski Collens describes their FDA-cleared bone-regeneration product as an important stepping stone — a validation of their technology and regulatory approach, even if it wasn’t commercially fast enough to compete with traditional bone grafts.

That early experience set the stage for a breakthrough. Dimension’s proprietary BioNidum scaffold, made from the widely used biomaterial PLGA, enables rapid blood-vessel growth — a key hurdle in tissue engineering. By engineering scaffolds with pores of varying sizes, the company created an environment where cells can integrate quickly without triggering the immune system to wall off the implant.

The opportunity is massive. In 2023 alone, more than 52,000 Americans died from liver disease or cirrhosis, and transplant shortages remain one of the biggest barriers to survival. Dimension aims to step into that gap by growing a small, temporary liver under the skin using billions of donor-derived or stem-cell-generated liver cells. In animal models, this approach has already boosted survival rates dramatically.

The article also spotlights Dimension’s roots in Northwestern University’s TEAM Lab, its diverse and women-led leadership team, and its strong investor backing — more than $20M raised to date, with a planned A2 round in 2026 targeting up to $50M. The company expects to begin human clinical trials in 2028.

As Collens notes, biotech is entering “a really interesting inflection point” where engineering and biology are converging in ways once thought unimaginable. With companies like Dimension Bio leading the charge, it’s clear Illinois is becoming a powerful hub for next-generation regenerative medicine.

The deal gives Abbott a dominant foothold in cancer screening, powered by Exact’s flagship Cologuard test and a crowded pipeline of next-generation screening tools, including Cologuard Plus and several liquid-biopsy programs. CEO Robert Ford emphasized growth over cost-cutting, though analysts see room for efficiencies in sales infrastructure and procurement.

Exact’s footprint — 6,500 employees, nine R&D centers, and more than 20 million Cologuard tests used since 2014 — positions Abbott to scale quickly across primary care, where both companies already have deep commercial reach. But the combo isn’t plug-and-play: the two companies have different operating models, and Ford downplayed expectations of broad cross-selling between Cologuard and products like Libre.

The acquisition continues a surge in health-care M&A and could spark a new wave of consolidation across diagnostics. With the deal slated to close in mid-2026, investors will be watching how Abbott integrates Exact’s sprawling cancer-screening pipeline — and whether the company can convert this massive swing into long-term market leadership.

As part of iBIO’s partnership with G2G Consulting, our members receive exclusive access to this report each month, along with a private consultation option during the GBG webinar. You can find the full November GBG Report on the iBIO website.

Highlights From This Month’s Report

BARDA leads several near-term deadlines, including the Agnostic Diagnostics mNGS solicitation(11/20), the Rapid Antibody Production RFI (12/4), and the BioTools Innovator Program for early-stage technology developers (12/1). Additional BARDA opportunities extend into early 2026, such as ReadyDetect, the Paratus Digital Health Accelerator, and funding for wearable biosensor technologies (1/15). Other notable openings include PCORI’s FY26 Cycle 1 PFA supporting retrospective comparative-effectiveness studies (LOI due 1/6) and the DoD SBIR Release 12, which encompasses topics ranging from shelf-stable nucleic acid synthesis reagents to CBRN sensing platforms (12/10). The report also covers new opportunities in women’s health, pediatric innovation, infectious disease, biomanufacturing, and small-business development.

📄 Full Report

The 2025 honorees will be celebrated at the iBIO iCON Awards Dinner on Thursday, November 6th, 2025, from 5:00 PM to 8:00 PM at Three Top Lounge at the Salt Shed. Registration is still open.

iBIO extends its deepest gratitude to Takeda, the lead sponsor of the 2025 iCON Awards, for their unwavering support and continued dedication to growing the Illinois life sciences industry and supporting the next generation of life sciences leaders.

2025 Civic iCON Award Winner: Timothy P. Walbert

The Civic iCON Award, which acknowledges outstanding contributions to the innovation-based economy in Chicago, Illinois, and the Midwest, will be presented to Timothy P. Walbert, former chairman, president and chief executive officer of Horizon Therapeutics.

Walbert’s recognition reflects both his remarkable success in building Horizon Therapeutics into a global biopharmaceutical leader and his profound dedication to supporting the entire Illinois life sciences ecosystem. His leadership has extended far beyond his own company’s success—he has been instrumental in creating the infrastructure and support systems that enable countless other entrepreneurs to thrive. Walbert’s personal experience as both a patient and caregiver has made him a champion for patients and a model for all companies to follow in putting patient needs at the center of everything.

2025 iCON Entrepreneur Award Winner: Harry D. Rowland

The iCON Entrepreneur Award, recognizing an active business leader within the Illinois innovation ecosystem acknowledged by peers as a visionary in developing and scaling technology-driven ventures, will be presented to Harry D. Rowland.

Rowland recently served as co-founder, CEO, and President of Endotronix, where he led a team that created the Cordella System, raised more than $150 million in financing, built a 150+ person organization, completed the PROACTIVE-HF trial, and achieved FDA PMA approval, resulting in acquisition by Edwards Lifesciences in 2024. Dr. Rowland joined Edwards for the following year, supporting Cordella’s receipt of CMS national coverage and CE Mark.

2025 iCON Innovator Award Winner: Brad Merrill, PhD

The iCON Innovator Award, recognizing an active researcher/scientist within life sciences education who is acknowledged by peers as a leader in biotechnology teaching and scholarship, will be presented to Brad Merrill, PhD, Professor of Biochemistry and Molecular Genetics at the University of Illinois Chicago.

Dr. Merrill specializes in stem cell biology and CRISPR-based synthetic biology tools. He co-founded Syntax Bio with former PhD student Ryan Clarke to develop a modified CRISPR platform for generating therapeutic cells from stem cells. The company has raised $15 million, demonstrating the powerful intersection of academic excellence and commercial innovation.

2025 iCON Patient Advocate Award Winner: State Senator Adrianne Johnson

The iCON Patient Advocate Award, recognizing an elected or appointed official, community member, or organization within Illinois who is acknowledged by peers as a leader in improving patient access and healthcare outcomes, will be presented to State Senator Adrianne Johnson.

Senator Johnson’s work to reduce barriers for diverse populations to access clinical trials has opened doors to potentially life-saving treatments for those who have historically been excluded from medical research, demonstrating her commitment to health equity across Illinois.

2025 iCON Community Impact Award Winner: Portal Innovations

The iCON Community Impact Award, recognizing an individual or organization within Illinois who is acknowledged by peers as a leader in addressing critical community needs, will be presented to Portal Innovations.

Portal Innovations is a life sciences venture development platform that invests in and supports early-stage science-based companies. Through its “Crafted Capital” model, Portal provides physical capital, financial capital, and human capital through fully-equipped lab space, investments in early-stage startups, and access to a global network of partners to accelerate an entrepreneur’s path from research to fundraising, to commercialization. Portal was founded with a mission to amplify and elevate innovation in Chicago by building great companies while fostering idea sharing, delivering tailored programming, and building a community rooted in collaboration. Headquartered in Chicago, with a growing international footprint, Portal has become a catalytic force for the Midwest’s life sciences ecosystem—attracting talent, investment, and high-impact companies.

“Having witnessed the evolution of Illinois’s life sciences community throughout my career, I’ve seen firsthand the remarkable transformation of our ecosystem,” said Ken Johnson, iBIO Board Chair and Vice President, Medical Affairs, Immedica North America. “This year’s iCON Award recipients represent the very best of what makes our community exceptional—visionary leadership, unwavering commitment to patients, and a dedication to lifting up the next generation of innovators. Their contributions have not only advanced their own organizations but have strengthened the foundation for everyone working to make Illinois a global leader in life sciences.”

For more information about the 2025 iBIO iCON Awards and to register for the awards dinner, please visit https://ibio.org/news-events/icon/.

]]> https://ibio.org/setting-the-record-straight-on-340b-in-illinois/ Fri, 10 Oct 2025 17:00:30 +0000 https://ibio.org/?p=10914 There’s been a lot of misinformation circulating about the 340B Drug Pricing Program and HB2371 in Illinois. Let’s separate fact from fiction.

We’ve been hearing some wild claims from hospital lobbying groups about what will happen if HB2371 doesn’t pass. Here’s what you need to know:

CLAIM: “Voting NO on HB2371 will end the 340B program and force hospitals to close.”

FACT: The 340B program is a federal program that will continue to operate exactly as it does today, regardless of any state legislation. No state law can end a federal program.

CLAIM: “340B hospitals need this expansion to survive and serve vulnerable patients.”

FACT: Recent comprehensive analysis shows that after enrolling in 340B, hospitals:

• Increased financial investments by 89% per bed (stocks, bonds, financial instruments)
• Directed one-third of every 340B dollar to investment portfolios
• Decreased uncompensated care by 22% per bed
• Kept staffing completely flat despite massive revenue growth

In Illinois specifically, charity care at 340B hospitals plummeted from 4.80% to 2.14% between 2012-2022 – that’s 6.5% below the national average.

CLAIM: “Patients benefit from the 340B program.”

FACT: The Congressional Budget Office’s September 2025 report found “no evidence that patients benefit from the program.” Instead, CBO found that 340B drives up costs for taxpayers and incentivizes more expensive care settings.

THE REAL COST OF HB2371:

• Illinois Medicaid has already lost $238.4 million in rebates due to 340BHB2371 would cost an additional $52 million annually
• Total impact: Over $290 million in taxpayer dollars
• $16 of every $100 in 340B revenue goes to contract pharmacy middlemen – not patients

THE BOTTOM LINE:

The data is clear. 340B hospitals are building Wall Street investment portfolios while cutting charity care. HB2371 would expand this broken system at a cost of $290+ million to Illinois taxpayers – with zero transparency requirements and zero evidence of patient benefit.

The 340B program will continue to operate whether or not HB2371 passes. The question is: should Illinois expand a program that enriches hospital portfolios and pharmacy middlemen instead of helping vulnerable patients?