Zebrafish and start-up money are the keys for success at Luminomics,
Inc., a fledgling biotech firm in St. Louis. Finding the zebrafish
is easy. Finding the start-up money is another story.
It's the challenge facing Jeff Mumm, president of Luminomics, the
company he started with partner and fellow biotech researcher Eric
Schroeter three years ago. Luminomics' goal is to help develop cellular
regenerative therapies for people suffering from degenerative maladies
such as Parkinson's disease and Lou Gehrig's disease (ALS).
Zebrafish, minnow-sized denizens of household aquariums and biology
laboratories, are the focus of Luminomics' research. The zebrafish's
natural regenerative powers make it an ideal specimen for study in
the quest to conquer degenerative diseases.
However, at this point in Luminomics' existence, the quest for funding
is similarly important in order to maintain and extend the life of
the business.
"Our biggest initial problem as researchers and entrepreneurs
is transitioning from a science orientation to a business orientation,"
Mumm said.
One of the expert business resources Mumm and Luminomics utilize
is Wayne Harvey, director of the Missouri
Federal and State Technology Partnership's (MoFAST) Small Business
Innovative Research (SBIR) assistance center in St. Louis County.
Harvey, whose office is affiliated with the Missouri Small Business
Development Centers (MO SBDC) at the University of Missouri, is one
several business-savvy sources Mumm has consulted since his business
venture's launch. Others include contacts he made through the Olin
School of Business at Washington University.
"Wayne has been instrumental in sharpening and focusing our
grant applications," said Mumm. "He's helped us get the
funds to get going and provided a conduit for a funding format."
Harvey has helped Luminomics navigate the demands of SBIR grant funding
requests by reviewing applications and offering suggestions to hone
language, clarify the ties between problems and solutions and emphasize
the commercial applications of Luminomics' efforts.
Harvey's guidance has proved fruitful. Luminomics' funding quest
has yielded positive results, including most recently a $107,000 grant
from the National Institutes of Health, which Mumm processed through
SBIR channels. Also, Harvey assisted Luminomics with its recent entry
in the 2004 Olin Cup business plan competition at Washington University,
which resulted in a first-place finish yielding a $50,000 award of
seed money.
Mumm also has initiated funding requests from two SBIR applications
he initiated in December and is planning to seek funds from private
sources, such as the ALS Association and the Juvenile Diabetes Foundation.
With projected continued support, Mumm and his partner hope to establish
a 10-member team at Luminomics within a year or two. With that intellectual
infusion, research results can blossom, and commercial success should
follow.
"Luminomics has a bright future," Harvey says. "They
have the passion and commitment to succeed and a technology platform
that offers significant opportunities to discover and develop potential
'cures' for degenerative diseases."
Because of such a promising future, the entrepreneurs from Luminomics
will represent MoFAST at the first Client Showcase
and Legislative Breakfast hosted by the MO SBDC on Thursday, Feb.
10, in the State Capitol Rotunda in Jefferson City. At that event,
Luminomics and 24 other outstanding Missouri companies will meet with
legislators to discuss their products and services and to be recognized
for their contributions to the economic development of the state of
Missouri. Recognition from MO SBDC and MoFAST will be accompanied
by resolutions presented by the company's state senator and house
member.
For more information on the services of the Missouri Small Business
Development Program, call Harvey at 314/631-5509 or e-mail him at
harveywa@missouri.edu.
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