2021 Financial Report
2021 FINANCIAL REPORT
WELCOME TO TEXAS BIOMED’S
2021 FINANCIAL REPORT
A
s a nonprofit research institute, Texas Biomed is committed to sharing its financial health with its donors, partners and community members. The annual financial report provides an overview of income streams, which include grants from federal agencies such as the National Institutes of Health (NIH) and Department of Defense; contracts with industry partners, such as Regeneron; philanthropic grants from individuals and organizations; and the Texas Biomed endowment originally seeded by founder Tom Slick, Jr.
underwriting the bonds, with support from many other partners. As part of the process, Texas Biomed had its credit worthiness evaluated for the first time in its 80-year history. The Institute received an investment grade credit rating of Baa1 Bruce Edwards from Moody’s. Still, Executive Vice President and Chief Financial Officer Edwards was not sure how interested investors would be in Texas Biomed bonds as a new investment option.
This is followed by a detailed list of grants and contracts, many of which are secured through the tireless efforts of Texas Biomed scientists writing and submitting grant applications. The Institute’s Sponsored Programs Administration team also plays an essential role, working with scientists from beginning to end on project funding, including helping to ensure regulatory compliance once awards are received.
“Ultimately, we had more buyers than bonds available,” Edwards says. The bond sale was so successful, it was named the 2021 Deal of the Year by Smith’s Research and Gradings, an investment research and analysis company. Smith’s annual Municipal All-Star Awards recognize outstanding municipal bond analysts and investments, based on votes by 1,000 institutional investors. Edwards and his partners accepted the award at a ceremony in New York City in December 2021.
In 2021, under the leadership of Executive Vice President and Chief Financial Officer Bruce Edwards, Texas Biomed added a new source of infrastructure project funding to its portfolio: municipal bonds. In September 2021, Texas Biomed sold $65 million in municipal bonds. The bond sale helped retire $43 million in shortterm bank loans that funded new laboratories and campus upgrades over the past five years. It also raised $22 million in new capital, which will support ongoing efforts to expand Texas Biomed’s infectious disease research capabilities as part of its 10-year strategic plan.
“Out of all the municipal bond transactions in a given year, the analysts picked our inaugural bond offering as the deal of the year,” Edwards says. “That’s incredible recognition from the Wall Street community, further validating we are on the right track with our strategic plan and ensuring steady financial footing into the future.”
Edwards worked with Bank of America and Siebert Williams Shank & Co., LLC on 2
FINANCIALS
2021 REVENUE BASED ON 2021 AUDITED REPORT
42.0% Federal Grants 1.6% Non-Federal Grants 20.7% Federal Contracts
7.0% Commercial Contracts 0.3% Non-Federal Contracts 6.6% Restricted Contributions 7.0% Unrestricted Contributions 12.7% Investment Income 1.3% Royalty Income 0.4% External Program Income 0.4% Other Income
2021 VALUE OF ENDOWMENT IN MILLIONS OF DOLLARS
$130
$125.1 $117.4 $118.3
$120
$111.5
$114.7 $113.9 $116.3
$114.6 $107.2
$100.8
$100 $91.4 $80
$60
2011
2012
2013
2014
2015
2016
3
2017
2018
2019
2020
2021
RESEARCH GRANTS & CONTRACTS AWARDED IN 2021 INDUSTRY GRANTS & CONTRACTS SPONSOR AND TITLE
PRINCIPAL INVESTIGATOR
ARROWHEAD PHARMACEUTICALS, INC. SARS-CoV-2 siRNA testing in VeroE6 cells
Viraj Kulkarni
CONSTANT THERAPEUTICS, LLC Development of novel host response therapies to mitigate tissue damage in viral infections
Brandon Henry
JANSSEN PHARMACEUTICALS, INC. Screen NHP samples in ZEBOV and EBOV ELISA
Cory Hallam
PROFESSIONAL COMPOUNDING CENTERS OF AMERICA Evaluate in vivo cytotoxicity and anti-SARS-CoV-2 efficacy of PCCA compound in mouse model of SARS-CoV-2
Varun Dwivedi
TONIX PHARMACEUTICALS In vitro SARS-CoV-2 infection and RNA isolation after TNX3500 treatment
Viraj Kulkarni
VIR BIOTECHNOLOGY, INC. Determine therapeutic efficacy of “Research Compound” against murine model of M.tb
Varun Dwivedi
INDUSTRY SUBTOTAL: $8,613,818 * * Subtotal includes contracts under non-disclosure agreements
PHILANTHROPIC GRANTS SPONSOR AND TITLE
PRINCIPAL INVESTIGATOR
ANIMAL WELFARE INSTITUTE Behavioral and physiological effects of implementing visual barriers in marmoset housing
Corinna Ross
BILL & MELINDA GATES FOUNDATION Testing mAbs against SARS-CoV-2 using rodent model
Jordi B. Torrelles
COWLES MEMORIAL TRUST The transcriptional signature of competition and cooperation in malaria infections
Kate Vendreley
COWLES MEMORIAL TRUST A host and viral targeted combinatory therapy for treating influenza
Brandon Henry
DOUGLASS FOUNDATION Characterizing rSARS-CoV-2 reporter genes to overcome current limitations
Kevin Chiem
THE MICHAEL J. FOX FOUNDATION FOR PARKINSON’S RESEARCH / UT HEALTH SAN ANTONIO San Antonio Ligand Consortium
Marcel Daadi
SAN ANTONIO MEDICAL FOUNDATION Type I interferon and severe COVID-19 outcomes in humans and nonhuman primates
Dhiraj Singh
SAN ANTONIO MEDICAL FOUNDATION / UT HEALTH SAN ANTONIO Repurposing drugs for COVID-19 therapy
Luis Martinez-Sobrido
SAN ANTONIO MEDICAL FOUNDATION / UT HEALTH SAN ANTONIO Calming the cytokine storm with proteasome-targeting immunomodulators
Larry Schlesinger
TEXAS BIOMEDICAL FORUM The impact of zinc transporter ZIP8 during M.tb macrophage infection
Eusondia Arnett
TEXAS BIOMEDICAL FORUM Deciphering the impact of the lung microenvironment on alveolar macrophage recruitment and function in old age Susanta Pahari 4
SPONSOR AND TITLE
PRINCIPAL INVESTIGATOR
TEXAS BIOMEDICAL FORUM Molecular probes specific for surface antigens of brain eating amoeba Naegleria fowleri
Andrew Hayhurst
TEXAS BIOMEDICAL FORUM Autologous mitochondrial transplantation
Jordi B. Torrelles
TEXAS BIOMEDICAL FORUM Deciphering early M.tb and host determinants driving infection outcomes
Anna Allué Guardia
PHILANTHROPIC SUBTOTAL: $1,402,166
NON-FEDERAL GRANTS & CONTRACTS SPONSOR AND TITLE
PRINCIPAL INVESTIGATOR
AMERICAN COLLEGE OF LABORATORY ANIMAL MEDICINE Compare sedative, anesthetic and cardiopulmonary effects of telazol in common marmosets
Anna Goodroe
CINCINNATI CHILDREN’S HOSPITAL MEDICAL CENTER Study M.tb disease progression in LDH deficient mice
Varun Dwivedi
SAN ANTONIO PARTNERSHIP FOR PRECISION THERAPEUTICS CRISPR-based RNA targeting for HIV intervention
Smita Kulkarni
SAN ANTONIO PARTNERSHIP FOR PRECISION THERAPEUTICS / SOUTHWEST RESEARCH INSTITUTE Develop antiviral therapies against Nipah and Hendra viruses
Olena Shtanko
SAN ANTONIO PARTNERSHIP FOR PRECISION THERAPEUTICS / UT HEALTH SAN ANTONIO Electronic health record big data and radiomic analytics
Diako Ebrahimi
SOUTHWEST NATIONAL PRIMATE RESEARCH CENTER Behavioral and physiological effects of implementing visual barriers in marmoset housing
Corinna Ross
UT HEALTH SAN ANTONIO Graduate student research funding
Larry Schlesinger
UT HEALTH SAN ANTONIO Therapeutic application of antidepressants in COVID-19: mitigating the cytokine storm
Luis Martinez-Sobrido
NON-FEDERAL SUBTOTAL: $242,715
FEDERAL GRANTS & CONTRACTS SPONSOR, MECHANISM & TITLE
PRINCIPAL INVESTIGATOR
NATIONAL INSTITUTES OF HEALTH (NIH) RO1 Genomic consequences of schistosome hybridization
Timothy J. C. Anderson
NIH / KENYATTA UNIVERSITY RO1 SUBCONTRACT Characterization of drug resistance in field-collected schistosomes
Timothy J. C. Anderson
MEDICAL CBRN DEFENSE CONSORTIUM CONTRACT Well characterized aerosol NHP models for filovirus, arenavirus and alphavirus induced disease
Ricardo Carrion, Jr.
NIH / UNIVERSITY OF NEBRASKA–LINCOLN R21 SUBCONTRACT Structure-based design of peptide based entry inhibitors against Ebola virus infection
Ricardo Carrion, Jr.
NIH / WEST VIRGINIA UNIVERSITY RESEARCH CORPORATION RO1 SUBCONTRACT Develop mRNA-platform vaccines
Christopher Chen
NIH / COLUMBIA UNIVERSITY RO1 SUBCONTRACT The epitranscriptome as a novel mechanism of arsenic-induced diabetes
Shelley A. Cole
5
RESEARCH GRANTS & CONTRACTS AWARDED IN 2021 SPONSOR, MECHANISM & TITLE
PRINCIPAL INVESTIGATOR
NIH / UNIVERSITY OF OKLAHOMA HEALTH SCIENCE CENTER SUBCONTRACT Strong Heart Study coordinating center
Shelley A. Cole
NIH / UNIVERSITY OF TEXAS AT SAN ANTONIO SUBCONTRACT Epigenetics of energy homeostasis, bioenergetics and obesity
Shelley A. Cole
NIH / UT HEALTH SAN ANTONIO SUBCONTRACT Development of marmoset age-dependent iPSC line resources to determine single cell transcriptome and regulome atlas
Marcel Daadi
ECONOMIC DEVELOPMENT AGENCY GRANT Texas Biomed nonhuman primate animal facility
Cory Hallam
NIH R21 Nanobody toolkit for human coronavirus classification
Andrew Hayhurst
NIH C06 Significant expansion of SNPRC’s specific pathogen free rhesus macaque colony for AIDS research
Deepak Kaushal
NIH SUPPLEMENT Increase Indian rhesus macaque colony at SNPRC for AIDS, COVID-19 and other infectious disease research
Deepak Kaushal
NIH SUPPLEMENT Improve and expand rhesus monkey housing in support of U42 HIV/AIDS activities
Deepak Kaushal
NIH SUPPLEMENT Baboon model of long term effects of SARS-CoV-2 infection
Deepak Kaushal
NIH / BAYLOR COLLEGE OF MEDICINE P30 SUBCONTRACT Texas Developmental Center for AIDS Research
Deepak Kaushal
NIH / ST. LOUIS UNIVERSITY RO1 SUBCONTRACT Role of gamma/delta T cells in vaccine induced immunity
Deepak Kaushal
NIH / TULANE UNIVERSITY RO1 SUBCONTRACT Host-directed therapy to augment anti-M.tb responses in the setting of HIV co-infection and to sterilize tuberculoma
Deepak Kaushal
NIH / UNIVERSITY OF CALIFORNIA, LOS ANGELES RO1 SUBCONTRACT Optimization and advanced proof-of-concept studies of a Listeria-vectored multi-antigenic vaccine against tuberculosis Deepak Kaushal NIH / WASHINGTON UNIVERSITY IN ST. LOUIS RO1 SUBCONTRACT Role of inducible bronchus associated lymphoid tissue in latent tuberculosis
Deepak Kaushal
NIH / WASHINGTON UNIVERSITY IN ST. LOUIS RO1 SUBCONTRACT A novel TH17-inducing mucosal vaccine for tuberculosis
Deepak Kaushal
NIH / WASHINGTON UNIVERSITY IN ST. LOUIS U19 SUBCONTRACT Targeting trained immunity and Th1/Th17 axis with combination adjuvants
Deepak Kaushal
NIH RO1 CNS myeloid cells as SIV reservoirs: persistent infection and rebound
Binhua (Julie) Ling
NIH / TULANE UNIVERSITY RO1 SUBCONTRACT Eradication of latent SIV from the CNS
Binhua (Julie) Ling
DEPARTMENT OF DEFENSE (DOD) GRANT Development of a live-attenuated vaccine platform against hemorrhagic-fever-causing arenaviruses
Luis Martinez-Sobrido
DOD / ABSS SOLUTIONS INC. SUBCONTRACT – Viral and microbial decontamination strategies for medical treatment facilities, close quarters and austere settings – Zeolites Project
Luis Martinez-Sobrido
DOD / UT HEALTH SAN ANTONIO SUBCONTRACT SARS-CoV-2 viral RNAs as unique biomarkers and therapeutic targets
Luis Martinez-Sobrido
DOD / UT HEALTH SCIENCE CENTER AT TYLER SUBCONTRACT Develop a novel drug candidate, CSP7, for treating COVID-19
Luis Martinez-Sobrido
6
SPONSOR, MECHANISM & TITLE
PRINCIPAL INVESTIGATOR
NIH CONTRACT Evaluating the efficacy of ROC-325 in a SARS-CoV-2 humanized ACE2-transgenic mouse model
Luis Martinez-Sobrido
NIH / ICAHN SCHOOL OF MEDICINE AT MT. SINAI SUBCONTRACT NIAID Centers of Excellence for Influenza Research and Response (CEIRR)
Luis Martinez-Sobrido
NIH / POP BIOTECHNOLOGIES R43 SUBCONTRACT Developing a thermostable SARS-CoV-2 RBD-particle vaccine
Luis Martinez-Sobrido
NIH / UNIVERSITY OF ALABAMA AT BIRMINGHAM RO1 SUBCONTRACT The origin and future protective activity of SARS-CoV-2 RBD specific neutralizing antibodies
Luis Martinez-Sobrido
NIH / UT HEALTH SAN ANTONIO RO1 SUBCONTRACT Mechanism-based targeting of the RNA processing machinery of SARS-CoV-2
Luis Martinez-Sobrido
NIH / JOHNS HOPKINS UNIVERSITY RO1 SUBCONTRACT A STINGing vaccine for TB
Smriti Mehra
NIH / TULANE UNIVERSITY RO1 SUBCONTRACT Impact of tuberculosis on the development and function of the immune system in SIV-infected infants
Smriti Mehra
NIH / NEW YORK MEDICAL COLLEGE R21 SUBCONTRACT – Characterizing the physicochemical properties of membraneless condensates and its regulation by delta-9-tetrahydrocannabinol in HIV/SIV infection
Mahesh Mohan
NIH R56 Mapping the marmoset: characterizing the impacts of chimerism on marmoset development and aging
Corinna Ross
NIH / UT HEALTH SAN ANTONIO P30 SUBCONTRACT San Antonio Claude D. Pepper Older Americans Independence Center
Corinna Ross
NIH / UNIVERSITY OF TEXAS AT SAN ANTONIO U01 SUBCONTRACT Advancing brain health research through male germline editing in marmosets
Corinna Ross
NIH SUPPLEMENT Macrophage nuclear receptors, metabolism and immune effectors during health and M.tb infection – Diversity Supplement Larry Schlesinger NIH P51 Southwest National Primate Research Center
Larry Schlesinger
NIH KO1 Characterizing IL-22 driven chronic immune activation in HIV/TB co-pandemic
Riti Sharan
NIH R21 Tunneling nanotubes as an alternate route of Ebola virus dissemination
Olena Shtanko
NIH / FOX CHASE CHEMICAL DIVERSITY CENTER, INC. R42 SUBCONTRACT Development of small molecule therapeutics targeting hemorrhagic fever viruses
Olena Shtanko
NIH / UNIVERSITY OF PENNSYLVANIA R21 SUBCONTRACT Role of host angiomotin as a central regulator of filovirus egress and dissemination
Olena Shtanko
DOD / ABSS SOLUTIONS INC. SUBCONTRACT – Viral and microbial decontamination strategies for medical treatment facilities, close quarters and austere settings – CIMR Efficacy Project
Jordi B. Torrelles
FEDERAL SUBTOTAL: $97,232,177
TOTAL NEW GRANTS & CONTRACTS: $107,490,876
7
TEXAS BIOMEDICAL RESEARCH INSTITUTE P.O. BOX 760549 SAN ANTONIO, TEXAS 78245 www.txbiomed.org 210.258.9400