- Associated Press - Friday, January 1, 2016

OLATHE, Kan. (AP) - The Kansas Bioscience Authority says it will become a private entity this year.

The Olathe-based authority was established in 2004 to attract bioscience technology to Kansas, using both state and private funds. The Lawrence Journal-World reports (https://bit.ly/1VusoFZ ) it has been criticized in recent years for the types of investments it made. Some lawmakers also said it wasn’t appropriate to use state funds for private equity investments.

Last year, lawmakers cut the authority’s state appropriation to $13 million for each of the next two years, rather than $35 million and $75 million the KBA was expecting.

The authority said Thursday its board of directors voted Dec. 18 to become a private entity. President Duane Cantrell will be replaced by Kevin Lockett, the current chief financial officer and chief operating officer.

___

Information from: Lawrence (Kan.) Journal-World, https://www.ljworld.com


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide