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Posted: Saturday, 02 November 2013 10:34AM

KBA Sees 45 Percent Revenue Drop



     OLATHE, Kan. - Total revenue for the Kansas Bioscience Authority dropped by 45 percent this fiscal year, and most of the loss was attributed to a decrease in state funding.
 
     The Lawrence Journal-World reports (http://bit.ly/1aCYuri ) the KBA's latest financial report says state support went from $14 million in the 2012 fiscal year to $3.2 million in fiscal year 2013.
 
     The KBA, a state-funded business accelerator that invests in ventures related to animal and human health, agriculture and bio-energy, was created in 2004.  Since then it has invested $272 million in 90 companies and institutions.
 
     Total revenues for the KBA are at about $8 million, down from $14.5 million in 2012. Expenses also dropped slightly, from $3.3 million at this time last year to $2.8 million in 2013.

AP News
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11/02/2013 10:37AM
KBA Sees 45 Percent Revenue Drop
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