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:4/6/2017)... Forecasts by Product Type (EAC), ... End-Use (Transportation & Logistics, Government & Public Sector, Utilities ... Generation Facility, Nuclear Power), Industrial, Retail, Business Organisation (BFSI), ... you looking for a definitive report on the $27.9bn ... ...
(Date:4/3/2017)... WASHINGTON , April 3, 2017 /PRNewswire-USNewswire/ ... single-cell precision engineering platform, detected a statistically ... cell product prior to treatment and objective ... highlight the potential to predict whether cancer ... prior to treatment, as well as to ...
(Date:3/28/2017)... 28, 2017 The report "Video ... Monitors, Servers, Storage Devices), Software (Video Analytics, VMS), and ... Global Forecast to 2022", published by MarketsandMarkets, the market ... is projected to reach USD 75.64 Billion by 2022, ... The base year considered for the study is 2016 ...
Breaking Biology News(10 mins):
(Date:10/11/2017)... ... October 11, 2017 , ... ... implantation and pregnancy rates in frozen and fresh in vitro fertilization (IVF) ... and maternal age to IVF success. , After comparing the results from the ...
(Date:10/10/2017)... ... 10, 2017 , ... For the second time in three ... Mentoring Award. Representatives of the FirstHand program travelled to Washington, D.C. Tuesday, October ... US2020’s mission is to change the trajectory of STEM education in America by ...
(Date:10/10/2017)... ... October 10, 2017 , ... USDM ... firm for the life sciences and healthcare industries, announces a presentation by Subbu ... , The presentation, “Automating GxP Validation for Agile Cloud Platforms,” will present a ...
(Date:10/9/2017)... Charlotte, N.C. (PRWEB) , ... October 09, 2017 , ... ... Purple announced Dr. Christopher Stubbs, a professor in Harvard University’s Departments of Physics and ... Dr. Stubbs was a member of the winning team for the 2015 Breakthrough Prize ...
Breaking Biology Technology: