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Editorial: Hearst investment in M2Gen a plus for Tampa Bay

 
Dr. William Dalton is the founder of M2Gen.
Dr. William Dalton is the founder of M2Gen.
Published Sept. 22, 2017

The pioneering research being undertaken by Tampa's Moffitt Cancer Center received a huge financial and psychological boost with the $75 million investment this week by the Hearst media family. This reflects faith in Moffitt's vision of treating cancer patients with specialized care, and it's another significant step in the fight against a major killer. It's also another validation of years of worthwhile efforts to build the Tampa Bay region into a world-class hub for biomedicine.

Hearst announced the stake in a Moffitt spinoff, M2Gen, which is building a massive database of genetic information as a means of delivering individualized care to cancer patients. Known as "Total Cancer Care," M2Gen combines technology with a patient's profile to analyze what treatments might be the most effective — with the goal of saving lives, money and precious time. Patients agree to contribute their tissue and clinical data, and to be contacted over time for future studies and clinical trials.

Officials said the $75 million will enable M2Gen to "scale up" by increasing the number of patients in its database, and by expanding the network beyond Moffitt and M2Gen's existing relationship with 16 other top U.S. cancer centers. This broader reach will allow M2Gen to bring in more specialists in cancer research and data-mining, and expand information-sharing between drug and the biotech industries. M2Gen, located south of the University of South Florida campus in Tampa, expects to double its 40-person staff and use the Hearst money to provide the capital to help keep M2Gen on course for the next several years.

Hearst's commitment to a long-term approach with M2Gen looks like a good fit for the Hearst family enterprise, a name long known as a media giant which has now become a major player in health care and technology. Hearst said it stood ready with additional capital should the need arise. Its profile should help Moffitt grow its international standing.

This is all a testament to the public investment in M2Gen more than a decade ago, when Hillsborough County, under the leadership of then-Commissioner Mark Sharpe, led the charge in providing $45 million in state and local incentives. Though this was a huge outlay of public money, the public mission behind M2Gen was clear, particularly in a state with a large number of cancer patients. The project has also helped expand the bioscience industry in the region, and bring new jobs and economic vitality to North Tampa.

The region made the right call by choosing to target the medical industry as a sector to grow. The Hearst investment should open other doors and bring new and valuable partners to the table. It takes time to build a critical mass, but M2Gen has captured the industry's imagination and confidence already. It's that spirit that will help attract the talent possible for M2Gen to achieve its goal. Until then, these resources will be a big help in fighting the scourge of cancer and in moving the region onto other big things.