Silicon Valley Bank and Georgia Biotechs

Dear Members,

The failure of Silicon Valley Bank (SVB) Friday has been a major shock to life sciences companies and the whole ecosystem in Georgia and across the United States. As the second largest bank failure in U.S. history, we know a number of CGHI: Georgia Bio’s member companies are directly affected by this concerning situation. Since Friday, CGHI: Georgia Bio has been monitoring the situation and is in contact with state and federal policymakers.

What We Know

This is an uncertain and evolving situation.

Early Sunday, Treasury Secretary Janet Yellen said there would be no federal bailout. However, later in the day Yellen, Federal Reserve Chair Jerome Powell, and Federal Deposit Insurance Corporation (FDIC) Chairman Martin Gruenberg issued a  joint statement  making clear that depositors will have access to  all  of their money  today  from SVB, not just the FDIC-insured limit of $250,000. The Federal Reserve will create a new Bank Term Funding Program (BTFP) to support liquidity. The statement also said that none of the costs of the intervention will be on customers or taxpayers, rather, losses to the Deposit Insurance Fund will be recouped by a special assessment on banks. Shareholders and unsecured debt holders will not be protected.

SVB senior management has been removed, and the Federal Reserve added it will make additional funding to eligible depository institutions to help assure they can meet depositor needs.

You can find reactions from House Financial Services Committee Chairman McHenry (R-NC)  here , Senate Banking Committee Ranking Member Scott (R-SC)  here , and a joint statement from Senate Banking Committee Chair Brown (D-OH) and House Financial Services Committee Ranking Member Waters (D-CA)  here .

President Biden  addressed  the SVB collapse this morning.

The Treasury Department and the Federal Deposit Insurance Corp.’s top priority is to engineer a sale of the bank. House Speaker Kevin McCarthy (R-CA)  said  that he thinks it is “very possible” to find a buyer for SVB, which he believes would be the “best outcome to move forward and cool the markets.”

“The ecosystem that allows America to develop groundbreaking new medicines is extremely important to our nation and to patients who depend on biotechnology companies,” said Rachel King, BIO’s CEO, in a written statement. “The recent actions by the FDIC, the Federal Reserve, and Treasury to allow SVB depositors to have access to all of their money is a very positive development to mitigate the potential harm to companies that are innovating across healthcare, agriculture, and the bioeconomy. We will continue to monitor the situation and will work closely with regulators to ensure that companies can meet payroll and continue to fund cutting-edge science and the development of treatments and therapies that patients are relying on.”

What’s Next?

CGHI: Georgia Bio is continuing to monitor the situation and if a deal is brokered for the sale of the bank. Treasury and the FDIC seem to have stabilized the situation now. We don’t expect quick legislative action from Congress, though there will likely be congressional hearings around the collapse in the future. We do want to note that this Thursday, Secretary Yellen will appear before the Senate Finance Committee at a previously scheduled  hearing .

We’ll issue more bulletins as information becomes available.

Maria Thacker Goethe

Chief Executive Officer

Center for Global Health Innovation

Catch up quick:  After the collapse of Silicon Valley Bank (SVB) Friday, the U.S. Treasury, Federal Reserve, and Federal Deposit Insurance Corporation (FDIC)  stepped in to fully protect all depositors  and ensure they have access to all of their money starting today, March 13.  

Where to read more:  Bloomberg has  a comprehensive live blog  of recent events, while  STAT News has a deep dive into the impact on the biotech industry.

Why it matters to biotech:  “Nearly half of all U.S. venture-backed technology and life science companies bank with SVB—the 16th largest bank in the country—with a total of $342 billion in client funds and $74 billion in total loans,”  explains Fierce Biotech.

Athens Bioscience Names New Leadership Team to Drive Commercial Growth

June 18, 2026
June 18, 2026 - Athens Bioscience, Inc., a US manufacturer of native human and animal proteins, today announced a change in leadership. Benjamin Newland, the company’s Executive Chairman, has become Chairman and Chief Executive Officer, effective today. John Mitchell, who has led the company as CEO for five years, will continue as special advisor. Karson Durie rejoins Athens as Chief Operating Officer, effective June 8, 2026. Dee Athwal, a biotechnology executive and antibody engineer, will join the board of directors on July 1, 2026. Newland becomes chief executive four decades after his father, Dr. Hillary Newland, co-founded the company that became Athens Bioscience in 1986 at the University of Georgia. Newland has served as Chairman and majority shareholder since March 2024 and is relocating from Spain to Athens, Georgia, to take the role. “For forty years Athens has made native proteins in-house, lot after lot — proteins that researchers and diagnostics labs build their own work on top of,” said Benjamin Newland, Chairman and CEO of Athens Bioscience. “What we want to do now is deepen relationships with our core customers and broaden our distribution.We also intend to develop our custom and contract manufacturing line of business. John was instrumental in building internal systems and processes and now we are ready to scale.” Mitchell led Athens for five years. As special advisor, he will support the transition and continue to advise on customer and commercial matters. “Athens made great proteins long before I showed up. What it needed was a tighter operation behind them – steadier planning, cleaner production, shipments you can count on,” said John Mitchell. “That’s built now. The next thing is getting Athens in front of more of the world and I look forward to supporting Benjamin as he moves forward with that.” Durie returns to Athens as Chief Operating Officer, having most recently served as Director of Product Development at Danimer Scientific. She previously served as Lab Director at Athens. She holds a PhD in polymer chemistry and an MBA in finance from the University of Georgia and is a Project Management Professional (PMP) and a registered patent agent. “I know this facility and the people in it,” said Karson Durie, Chief Operating Officer of Athens Bioscience. “Returning as COO is a chance to scale what already works — consistent lots, tight quality control, reliable supply — as demand grows across diagnostics and cell culture.” Athwal will join the board on July 1. He trained as a biophysicist and established the antibody engineering group at Celltech, where he is named as an inventor on foundational antibody-engineering patents. He has founded or co-founded five biotechnology companies and held C-level roles across the UK, US, Europe, Asia, and Latin America, including building Complement Therapeutics as CEO and leading the biologics strategy at Kelix Bio through its acquisition by Mubadala. His work in antibodies, immune proteins, and complement biology maps directly to Athens’s largest product lines. About Athens Bioscience  Athens Bioscience, Inc. (formerly Athens Research & Technology) manufactures native human and animal proteins for research, cell culture media, and in vitro diagnostics. Founded in 1985 at the University of Georgia, the company purifies more than 170 native proteins in-house at its ISO 9001:2015-certified facility in Athens, Georgia. Athens proteins have been cited in more than 2,500 peer-reviewed publications and reach customers across the US, Europe, Asia, the Middle East, and Africa. Athens does not resell or broker. It manufactures. Media Contact Christie DeMasi Athens Bioscience, Inc. christie@athensbioscience.com +1.706.546.0207

Showcase Your Startup at the 2026 Georgia Life Sciences Summit

June 17, 2026
As part of the Georgia Life Sciences Summit (August 25–26), applications are now open for the Startup Showcase , sponsored by Johnson & Johnson , highlighting early-stage innovation across MedTech and Therapeutics . The Showcase will feature some of Georgia’s most innovative life science startups, giving emerging companies the opportunity to present groundbreaking technologies, products, and solutions to a distinguished audience of industry leaders, investors, researchers, and partners. Selected startups will present during the August 26 luncheon program and participate in a live investor Q&A session with John Gutierrez (Ascenta Capital), Emma Heckenberg, Ph.D. (Solas BioVentures), Patrick Jordan (NovaQuest Capital Management), and Emily Dinu (Numinous Capital) Members of the Johnson & Johnson external innovation team will also be onsite for the program and select companies will be scheduled for a 1:1 meeting to discuss strategic alignment and potential collaboration opportunities. If you or companies in your network are building in MedTech or Therapeutics, this is a strong opportunity to gain visibility, receive feedback on commercialization and growth strategy, and connect with key stakeholders. All applicants receive a complimentary Summit registration, and one selected company will also be invited to participate in the NewYorkBIO / New York Stock Exchange Life Sciences Showcase on December 10. If this is relevant to your work, it would be a strong opportunity to consider applying. If not, it may be worth sharing with companies in your network who are building in this space.

Georgia Life Sciences Educator Connection | June Newsletter

June 15, 2026
Workforce & Education Impact: Building Georgia's Future  Life Sciences Workforce - One Teacher at a Time June 16, 2026 - As Georgia Life Sciences concludes the 2025-2026 cycle of the Biotech Teacher Training Initiative (BTTI), the results reinforce the critical role educators play in building the state's future life sciences workforce. Since July of 2025, BTTI engaged 98 educators representing 40 schools across 23 school systems, reaching an estimated 5,375 students through hands-on biotechnology instruction, career-connected learning, and industry-relevant classroom experiences. The Georgia Life Sciences Equipment Depot further expanded the program's impact by supporting 238 teachers with access to laboratory equipment and materials that make authentic life sciences learning possible. Georgia Life Sciences is also pleased to report that funding for BTTI was maintained in the Georgia House version of the FY 2027 budget approved earlier this year. The upcoming 2026-2027 program cycle will mark an important evolution for BTTI. Building on feedback from industry partners and workforce trends across the life sciences sector, Georgia Life Sciences will expand the program's scope to better reflect the skills and competencies employers increasingly need. In addition to foundational biotechnology concepts, future programming will be organized around key industry domains, including Quality Assurance and Quality Control (QA/QC), Research & Development (R&D), MedTech, Artificial Intelligence, Automation, and Advanced Manufacturing. This expanded approach will provide educators with greater insight into the breadth of career opportunities available across Georgia's life sciences ecosystem while helping students develop awareness of the technologies and disciplines shaping the industry's future. The impact extends far beyond individual workshops, creating lasting connections between Georgia classrooms and the state's growing life sciences ecosystem while helping build the talent pipeline that will power Georgia's future innovation economy. "Before BTTI, I was hesitant to do biotech labs because they seemed too complex and expensive," shared Josephine Jeganathan of Stockbridge High School. "The program showed me how simplified it can be and provided the equipment and materials needed to successfully implement the Central Dogma Lab with all my classes." Teachers are also seeing increased student engagement through hands-on learning experiences. Tonie Curry of North Clayton High School used a chromatography lab to connect environmental science concepts to water pollution and sustainability. "Students were highly interested in seeing how substances separated and made strong connections to water pollution and environmental sustainability," Curry noted. "The hands-on nature of the lab encouraged curiosity and deeper understanding." For many educators, one of the most valuable aspects of the program is the connection between classroom learning and real-world careers. As Marshai Waiters of Marietta Middle School reflected: "Exposure is key. There are so many avenues to work in STEM, and they are all accessible with opportunity and knowledge. The insights gained from industry speakers will inform my teaching and create new opportunities for student exposure." When teachers are trained, equipped, and connected to industry, students gain more than a science lesson—they gain a window into Georgia's life sciences future.
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