Success Story - Leveraging Resources to the Tune of $14M - CMIT, Shreveport, LA
On April 5, 2019, over 125 interested community members joined the Biomedical Research Foundation (BRF), Louisiana Economic Development (LED) Governor John Bel Edwards, Shreveport Mayor Adrian Perkins, and numerous city council members, for a Groundbreaking Ceremony at the Center for Molecular Imaging and Therapy (CMIT) location.
The Biomedical Research Foundation (BRF) is leading innovation in molecular imaging and research in Louisiana through a new $14.2 million, 20,000 sq. ft. CMIT. The new facility will house radiopharmaceutical production equipment and operations, patient imaging services, and a clinical and translational research program.
CMIT is embarking on a five-year, $14.2 million initiative to expand and elevate drug discovery and healthcare delivery with the goals of: Advancing Research, Increasing Access to Healthcare, Promoting Economic Development, and Improving Scientific Collaboration. The project includes consolidating all CMIT activities from three facilities to one, upgrading equipment, expanding research capabilities, and promoting economic development by:
Advancing molecular imaging sciences among higher-education institutions, businesses, contract research organizations and entrepreneurs. This market is estimated to reach $7.4 billion by 2024;
Hiring 25 highly trained and specialized employees within the next five years;
Expanding opportunities for radiopharmaceutical and radiochemistry research collaboration, pre-clinical basic science, and involvement in the drug discovery and development process that can attract and retain talent (both local and non-local) in North Louisiana;
Creating a robust research program that could lead to a pipeline of intellectual property and patents for novel radiopharmaceuticals or applications in collaboration with BRF’s Entrepreneurial Accelerator Program (EAP); and
Creating unique scientific resources that could lead to opportunities for startup companies serving the healthcare industry.
The new Center for Molecular Imaging and Therapy (CMIT) facility will be located in the BRF’s InterTech Science Park in Shreveport, Louisiana, at a former EPA Brownfields site.
Environmental assessment and cleanup work includes:
EPA Brownfields Assessment Grant (NLCOG) $150,000
EPA Brownfields Cleanup Grants (Wilson Foods) $200,000, (Modern Iron Works) $125,000
LDEQ TBA Phase I/II ESA (Louisiana College) $75,000
EPA Brownfields City of Shreveport Revolving Loan Funds (Gloriland/Greenwood) $152,000
Potential leveraged funds (including construction of future development) $115,400,000
This project is a shining example of using Brownfield Funding in various forms as well as other grants to leverage resources; and bring a brand new innovative project to Louisiana. The impact of this project, proposed to be open in 2020, will have a far reaching effect.