Biotech

New Facility Aims to Foster Emerging Companies

A new Rochester center will support the development of early stage biotechnology and life science companies, an effort that’s intended to play an important role in regional economic growth.

The Rochester BioEnterprise Center, a 40,000-square-foot facility housed in the University-owned former Wyeth laboratory building in nearby Henrietta, is supported by $2.5 million from New York’s Gen*NY*sis program.

“Rochester’s research community is a rich source of innovation, particularly in the area of biomedical science,” says President Joel Seligman. “This new facility will serve as an engine for economic growth by enabling local entrepreneurs to harness these opportunities to develop new technologies that will improve health and lead to the creation of new companies, jobs, and investments in Rochester.”

The center is the first technology incubator in the region with the wet lab facilities that are required by biotechnology companies. It’s expected to serve as an important link in the chain of resources necessary to promote and foster the growth of early stage life science companies on a regional scale.

“The Medical Center has a strong track record of converting new technologies into commercial ventures and keeping those companies—and the jobs they create—in greater Rochester,” says Bradford Berk ’81 (MD/PhD), CEO of the Medical Center. “The Rochester BioEnterprise Center will facilitate this effort by providing a place to nurture these new companies in an environment that strengthens both their science and their commercial potential.”

Between five and 15 new “bio” ventures emerge in the Rochester region each year, and it is anticipated that the numbers will grow as the region becomes more entrepreneurial and local universities generate more innovations with commercial potential. Early stage biotechnology ventures often require long periods of development and validation and in many instances must conduct their work with limited financial investment. Consequently, companies need access to facilities that keep overhead to a minimum.

Incubators serve as a temporary home for new companies and allow them to transition from the early research and development phase to active commercialization while operating in an environment that links entrepreneurs with services, advisors, and potential clients and investors.

The new center will be managed by High Tech Rochester (HTR), which also manages the Lennox Tech Enterprise Center which caters to non-bio, technology-based clients.