Navigation Links
GEN reports on Madoff scandal's impact on the life sciences
Date:3/17/2009

New Rochelle, NY, March 17, 2009While the Bernard Madoff Ponzi scheme led to the collapse of the Picower Foundation, a major benefactor for life science research, many bioindustry observers view the fallout from the scandal as a minor consequence in the larger economic picture, reports Genetic Engineering & Biotechnology News (GEN). They look at the Madoff factor as representing only one challenge to a global financial environment that has been rocked by declining stock prices, additional scandals, and malaise, according to the March 15 issue of GEN. (http://www.genengnews.com/articles/chitem.aspx?aid=2824&chid=0)

"One result of the Madoff affair is that a number of endowment institutions are moving their funds away from what they consider risky investments," says John Sterling, Editor in Chief of GEN. "But as costly as the scandal was, it is really just part of an overall gloomy funding environment right now."

Brandeis University was one of those directly affected by the Madoff scheme. University officials note that many of their donors had invested with the Madoff company. Academic medical and bio-related research projects, which are definitely feeling the immediate effects of the Madoff meltdown and the general economic situation, are tightening their belts, according to Nilou Arden, Ph.D., director of biotechnology at NovoCatalysis, a consulting firm.

Abi Barrow, director of the Massachusetts Technology Transfer Center, points out that the Madoff case is an "exaggerated part of the bigger policy picture" that will not impact startups as much as the number of university research initiatives, which are expected to decrease.

Other organizations and companies that commented in the GEN article on Madoff and the current economic crisis include the Howard Hughes Medical Institute, Epigenomics, VentureEdge, Crystal Cove Capital, Foley Hoag, Bentley University, Ernst & Young, PolyMedix, BioEnterprise, Unigene, and the Colorado Biosciences Association.


'/>"/>

Contact: John Sterling
jsterling@genengnews.com
914-740-2196
Mary Ann Liebert, Inc./Genetic Engineering News
Source:Eurekalert

Related biology news :

1. GEN reports biomanufacturers target a fully disposable process stream
2. BIO-key(R) Reports Profitability for Fourth Quarter and Full Year 2008
3. Aware, Inc. Reports Fourth Quarter and 2008 Financial Results
4. GEN reports on strategies to overcome blood-brain barrier
5. GEN reports on growing reliance on microfluidics technology
6. Cytori reports benefit of adipose-derived regenerative cells in spinal disc model
7. GEN reports growing focus on PI3-kinase pathway in cancer research
8. Genetic Engineering & Biotechnology News reports on the trend toward predictive toxicogenomics
9. Orchid Cellmark Reports Third Quarter 2008 Financial Results
10. Communication Intelligence Corporation Reports Third Quarter 2008 Financial Results
11. Synaptics Reports Record Results for First Quarter of Fiscal 2009
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/20/2016)... DALLAS , June 20, 2016 ... criminal justice technology solutions for public safety, investigation, ... by the prisons involved, it has secured the ... Corrections (DOC) facilities for Managed Access Systems (MAS) ... (4) additional facilities to be installed by October, ...
(Date:6/7/2016)... -- Syngrafii Inc. and San Antonio Credit Union (SACU) ... Syngrafii,s patented LongPen™ eSignature "Wet" solution into SACU,s ... in greater convenience for SACU members and operational ... document workflow and compliance requirements. Logo ... Highlights: ...
(Date:6/1/2016)... NEW YORK , June 1, 2016 ... Biometric Technology in Election Administration and Criminal Identification to ... According to a recently released TechSci Research report, " ... Sector, By Region, Competition Forecast and Opportunities, 2011 - ... $ 24.8 billion by 2021, on account of growing ...
Breaking Biology News(10 mins):
(Date:6/24/2016)... June 24, 2016  Regular discussions on a range of ... between the two entities said Poloz. Speaking at ... Ottawa , he pointed to the country,s inflation target, ... government. "In certain ... institutions have common economic goals, why not sit down and ...
(Date:6/24/2016)... ... ... While the majority of commercial spectrophotometers and fluorometers use the z-dimension of ... higher end machines that use the more unconventional z-dimension of 20mm. Z-dimension ... of the cuvette holder. , FireflySci has developed several Agilent flow cell product ...
(Date:6/23/2016)... ... June 23, 2016 , ... ... its second eBook, “Clinical Trials Patient Recruitment and Retention Tips.” Partnering with experienced ... this eBook by providing practical tips, tools, and strategies for clinical researchers. , ...
(Date:6/23/2016)... 2016   Boston Biomedical , an industry ... to target cancer stemness pathways, announced that its ... Drug Designation from the U.S. Food and Drug ... including gastroesophageal junction (GEJ) cancer. Napabucasin is an ... cancer stemness pathways by targeting STAT3, and is ...
Breaking Biology Technology: