State Representative Manley Visits Portal Innovations, Highlights Biotech Growth in Illinois

CHICAGO, IL. - State Representative Natalie Manley, D-Joliet, observed firsthand research being conducted by startup life sciences companies during a tour of Portal Innovations, a Chicago-based incubator and venture fund that supports over 50 startup life sciences companies. 

The visit was organized by the Illinois Biotechnology Innovation Organization, (iBIO), the state’s life sciences industry association. The life sciences industry contributes nearly half a million jobs to the Illinois economy. This includes approximately 100,000 in life sciences directly, plus an additional nearly 400,000 jobs indirectly in other sectors. 

The incubator environment provides critical support to small companies in the form of shared laboratories, equipment, funding and other resources. One of the company labs on the tour was CiRC Biosciences, a startup that is developing regenerative medicines that restore function lost to degenerative eye and brain diseases.

As Chairperson of the House Health Care Availability & Access Committee, Manley made the following statement:

“Incubators like Portal Innovations are a necessary first step for much needed scientific innovation and advancements in healthcare. Start up companies might not otherwise have access to laboratories, equipment or funding, putting an end to medical breakthroughs before they even begin. By providing shared access to these vast and costly resources, incubators open doors to researchers, who at their heart, push for medical advancements to benefit all of humanity.

“Without distracting from the importance of the potential life-saving medical research, we also must not overlook the contributions the life sciences industry brings to the Illinois economy. For these reasons, I am going to continue to work with legislators to not only keep these life science companies in Illinois, but also expand the growth and opportunities for this critically-needed medical research,” Manley said.

The total economic output of goods and services supported by the life sciences sector is $118 billion, according to iBio. The average annual compensation per employee in direct life sciences jobs in Illinois is $153,544. Currently, in terms of employment growth in Illinois, the life sciences industry is rapidly outpacing the total private sector, 7.5 percent (life sciences sector) to 0.4% (total private sector).

Following the tour, iBIO provided an overview of Illinois' life sciences industry, focusing on the startup ecosystem and growth in Chicago's Fulton Market community. The visit concluded with a roundtable discussion with startup CEOs who shared insights into the challenges of bringing new therapies to market.

MEETING PARTICIPANTS

John Conrad, President & CEO, iBIO

iBIO is Illinois' life sciences industry association, representing approximately 94,000 life sciences jobs across the state. The organization advocates for industry interests at federal, state, and local levels while supporting entrepreneurs and STEM education initiatives. Conrad has led iBIO since 2018, having joined in 2003 as its second employee.

Ken Johnson, Chair, iBIO & VP of Medical Affairs, Immedica North America

Immedica is a Swedish pharmaceutical company focused on rare diseases that established its North American headquarters in Chicago in September 2024. The company specializes in genetic & metabolic diseases, hematology, oncology, and specialty care. Johnson previously served as Senior VP of Medical Affairs at Xeris, leading both Xeris and Immedica North America to relocate to Illinois under his leadership.

Ritu Shah, CEO, ClostraBio

ClostraBio is a University of Chicago spinout developing therapeutics for gut health, inflammatory bowel disease, and food allergies. The company has created a nanoparticle platform for delivering short-chain fatty acids to targeted locations in the gastrointestinal tract. Shah joined as CEO in December 2022 while also serving as Managing Director at Portal Innovations. Her background includes roles as COO of Pyxis Oncology and leading the AveXis integration following its $8.7B acquisition by Novartis.

Jim Sullivan, Co-founder and CEO, Vanqua Bio & iBIO Board Member

Founded in 2019, Vanqua Bio focuses on developing treatments for neurodegenerative diseases, with its lead program targeting Parkinson's disease. The company has raised over $100 million in funding, including an $85 million Series B round. Sullivan previously served as Vice President of Research at AbbVie, where he advanced more than 100 compounds into clinical development, including RINVOQ, VENCLEXTA, and MAVYRET.

Andria Winters, CBRE

Andria Winters sat in for Dan Lyne. Andria formerly worked for the State of Illinois at DCEO and also helped lead the formation of Intersect Illinois. Andria provided an overview of the expansion of Lab space in Illinois and its importance to the startup ecosystem. 

Khaled J. El-Chebli, Lead, Strategic Business Advisory, Astellas

El-Chebli has led the commercialization of cutting-edge cancer therapies at Astellas, a Japanese multinational pharmaceutical company formed in 2005. He brings expertise in immunotherapies, targeted therapies, and antibody-drug conjugates, and currently provides strategic advisory support for business development and corporate strategy initiatives. Khaled shared how Astellas works with startup companies.

Pictured: State Representative Natalie Manley, D-Joliet, observes firsthand research being conducted by startup life sciences companies during a tour of Portal Innovations, a Chicago-based incubator and venture fund that supports over 50 startup life sciences companies.