Kansas Bioscience Authority to focus on private market
The Kansas Bioscience Authority plans to switch its attention to the private market in 2016.
Duane Cantrell, the former president and CEO, is leaving. Kevin Lockett, previous chief financial officer of the organization, will take over as president and CEO.
The reasons behind the changes are unclear.
Executives from Kansas Bioscience Authority sent a news release about the group’s new focus late Thursday and did not return phone calls and e-mails requesting further comment.
The release said the group’s board of directors voted unanimously during a Dec. 18 meeting to shift attention to the private market.
The news comes on the heels of continued financial difficulties and layoffs at the bioscience authority after funding cuts.
It laid off half its employees this summer.
The organization was created with the goal of attracting high-paying jobs to the state and growing startups related to biotech industries.
It has primarily been reliant on state funding.
Gabriella Dunn: 316-268-6400, @gabriella_dunn
This story was originally published December 31, 2015 at 5:37 PM with the headline "Kansas Bioscience Authority to focus on private market."