Missouri Minute: KC veterinary medicine company to sell for $245 million; Panera hires Krispy Kreme CEO

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It’s International Dance Day, which means it’s the only acceptable day of the year to bust a move at work. Before you go cutting a rug at the office, read up on the acquisition of Aratana Therapeutics, a new CEO at Panera Bread and more drama over the Los Angeles Rams.


Stay alert

KC veterinary medicine company to sell for $245 million
Nine-year-old Aratana Therapeutics, with four FDA-approved animal drugs under its belt, will be bought by Indiana-based Elanco Animal Health. (Kansas City Business Journal)

Doughnuts to bagels: Panera hires Krispy Kreme CEO
Sunset Hills-based Panera Bread hired Krispy Kreme COO Niren Chaudhary as its new president and CEO. (St. Louis Post-Dispatch)

Tax Cuts and Jobs Act has ‘no noticeable effect’ on housing
Economists say the 2017 tax law has had no tangible impact on housing in modest-priced markets such as St. Louis. (St. Louis Post-Dispatch)

Missouri considers banning kids from using tanning beds
State lawmakers are looking at two bills, similar to Kansas legislation passed in 2016, that would prohibit those under 18 from tanning at commercial salons. (Kansas City Star)

Transparency key to Missouri bills focused on college tuition
Missouri lawmakers want to introduce differential tuition rates for undergraduate programs and wrap all hidden fees into the overall tuition rate. (Columbia Missourian)

Banks, nonprofits attempting to ease St. Louis housing market’s woes
The Gateway Neighborhood Mortgage group in St. Louis is trying to rebuild a credit market in a distressed area. (St. Louis Post-Dispatch)

Washington University entrepreneurship leader to step down
Cliff Holekamp, head of the Olin Business School’s entrepreneurship program, will focus his energy on Cultivation Capital in St. Louis. (St. Louis Business Journal)

Entrepreneurial studies part of new Kansas City Art Institute building
The institute broke ground Friday on the 18,000-square-foot building, which will also house art history, student services and more. (Kansas City Business Journal)

Union Station Ferris wheel to soon loom over St. Louis
A 200-foot observation wheel that will offer skyline views from 42 enclosed gondolas will soon be erected and will open in the fall. (St. Louis Public Radio)


Say that again

“People get confused that being a support system means you have to be funding a company or (helping) on the back end, or you have to be a founder of a company. There’s a lot of people in the background that can make all the difference just getting their name and branding out there.”

Elaine Brownlee, programs and events manager at the Kansas City coworking space Plexpod, says that you don’t have to be a cash-flush investor to give a startup the support it needs. In an interview with Startland news, the Kansas City native touted the area’s startup-friendly ecosystem and what it has to offer to entrepreneurs.


Go figure

$295,000

That is how much St. Louis’ sports stadium authority owes in legal fees to the law firm Blitz, Bardgett & Deutsch after it lost a case Los Angeles Rams owner Stan Kroenke from purchasing the team’s old $12.7 million practice facility for just a buck. An arbitration panel also ordered the city to pay the Rams’ legal fees for that “purchase” as well, the St. Louis Post Dispatch reports.


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Drew Lock, the Lee’s Summit native and former University of Missouri star, was picked No. 42 overall in the NFL Draft. Initially projected to go in the first round, Lock wound up being selected by the Denver Broncos early in the second round, which means a contract in the range of $6 to $7 million, the Columbia Missourian reports.


Hello, my name is

SaRA Health

Since setting up shop in San Diego, the Techstars Kansas City alum has reached a deal to do business in the Kansas City area. SaRA, a digital wellness assistant, has signed a letter of intent with a Kansas City suburb to make its service available to every city employee, Startland News reports.

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