By Eric Fetters
Herald Writer
MUKILTEO — If you think biotechnology has gotten a lot of attention lately, just wait.
Howard Coleman, chief executive of Redmond-based Genelex Corp., told a classroom of business people Tuesday that the industry is just beginning to reach its potential.
"The biotechnology industry started in the late ’70s, it’s reaching critical mass in this period, and I think it is poised to become the, or one of, the dominant industries in the future," he said.
Coleman led a half-day workshop at Mukilteo’s Harbour Pointe Tech Center for an audience that included a range of professions that could be touched by the growing field of life sciences.
He explained some of the basic science and how researchers probe molecules and genes in order to develop new drugs and therapies. That process, he said, is changing rapidly.
"You see the classic picture of the scientist with a test tube," he added. "But we don’t use test tubes anymore."
Instead, plates that can handle hundreds of chemical or genetic samples are probed by automated, computer-controlled machines in many labs these days. The result is it takes much less time for researchers to identify molecules or chemical entities that might form the base for the next new drug.
Coleman, whose company is primarily focused on genetic testing, speaks and teaches regularly about the industry. This was the first extensive workshop he has presented in Snohomish County. It comes at a time when the county’s economic development leaders are increasingly interested in recruiting more biotech firms to locate here.
That’s the main reason Dave Waggoner attended the session. Waggoner, who serves on the board of the Snohomish County Economic Development Council, was joined by Deborah Knutson, its president and CEO.
Waggoner said getting familiar with the industry might also be useful in his other job as director of Snohomish County’s Paine Field.
"We have a lot of industrial areas at the airport, and if a biotech firm came to us, I’d want to understand their business a bit before building something for them," he added.
Others at the workshop included a contractor who would like to build specialized office and lab spaces for the industry, an executive recruiter and several people involved in financing biotech companies.
"It can be hard, but we try to learn as much as we can about the industry," said Betsy Lindsey, a member of the life sciences team at Silicon Valley Bank’s branch in Kirkland.
Speaking about the economics of the industry, Coleman emphasized that one thing hasn’t changed: It still takes a great deal of time and money to get a product or new drug to the point where it’s ready for the commercial market. Amit Kumar, president and CEO of Mukilteo’s CombiMatrix Corp., said investors and the public need to understand that.
"The revolutionary effect of this may not be felt as quickly as it was in the electronics industry," Kumar said. "But I think everyone agrees it will be a revolutionary change."
You can call Herald Writer Eric Fetters at 425-339-3453
or send e-mail to fetters@heraldnet.com.
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