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Illinois biotech advocacy group elects ADM executive as chairman

Kris Lutt, who holds the title of adviser to the office of the chairman at Archer Daniels Midland, will be the new chairman of the Illinois Biotechnology Industry Organization’s board of directors.

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CHICAGO, Illinois — Illinois’ biotechnology promotion group has elected an Archer Daniels Midland Co. executive as the chairman of its board.

Kris Lutt will be the new chairman of the Illinois Biotechnology Industry Organization’s board of directors, according to a statement from the group. Lutt holds the title of adviser to the office of the chairman at Decatur, Ill.-based Archer Daniels Midland, an agricultural processor that posted revenue of $1.7 billion in fiscal 2009. In that role, Lutt coordinates the activities of ADM’s executive team, according to the statement.

The Illinois Biotechnology group’s mission is to promote the state and the Midwest’s biotech industry, according to its Web site. Key member companies include Abbott Laboratories, Astellas Pharma US, Baxter International Inc. and Takeda Pharmaceuticals North America.

The biotech group’s top legislative priority is an Illinois Senate bill that would provide matching state funds to high-tech companies that attract federal funding, a spokesman said. The proposed legislation, Senate bill 1522, would also provide tax incentives to angel investors, typically wealthy individuals who invest in early stage companies.

The spokesman declined to provide the group’s annual budget, saying that information is “proprietary.”

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