In a move heralding the latest development at the Phoenix Bioscience Core (PBC), a 30-acre medical research and education campus in the heart of downtown, Arizona State University and Wexford Science & Technology LLC announced the launch of the Bioscience Growth Accelerator, a new program for life science startups relocating or expanding to Arizona to partner with Wexford and co-locate with ASU.
The Bioscience Growth Accelerator will be located within Wexford’s Connect Labs at 850 PBC, the 225,000 square foot building which opened in March 2021 through a partnership between ASU, the City of Phoenix and Wexford to house space for the research and entrepreneurial activity.
“Wexford has seen in other markets that sometimes these startups, especially in the life sciences sector, find it difficult to move to the next stage due to the high cost of labs and lab equipment. The Bioscience Growth Accelerator is designed to be a bridge and grow the ecosystem,” said Kyle Jardine, Vice President and Market Executive Wexford. “Bringing this program to Phoenix alongside Connect Labs will provide more resources, connectivity and support for the the city’s growing life science community”.
Companies that are accepted into the Bioscience Growth Accelerator program will receive a number of key benefits aimed at reducing the cost of starting or expanding a company and increasing access to key resources and connections. These include:
- A free lab bench and private office for three months with a one-year commitment.
- Access to key amenities such as shared equipment, ASU Core Facilities, and concierge services.
- Access to biomedical-related research, as well as academic and clinical facilities aimed at advancing human health and the biosciences.
Connect Labs will occupy the entire fifth floor of 850 PBC and function as a co-working space for 15 or more life science companies. The Bioscience Growth Accelerator (BGA) program will also include opportunities to build professional networks, provide access to talent, and offer workforce development training.
Sense Neuro Diagnostics is the first company to be accepted into the program. It develops non-invasive technology that enables rapid and comprehensive detection of stroke subtype and traumatic brain injury, as well as continuous brain injury monitoring. The Cincinnati-based company announced in August 2021 that it had raised $2.43 million from the U.S. military to advance its technology in the field.
The first group of Connect Labs companies will move into the space in December. When open and full, Connect Labs will be home to over 15 life sciences, health technology and other companies and add to the exciting dynamics of the Phoenix Bioscience Core.
The space has basic lab equipment available to all businesses, private labs and offices, common conference spaces and services, and two workforce training labs for the Center for Entrepreneurial Innovation LabForce program.
This is the first Connect Labs in the country for Wexford, specializing in developing and managing knowledge communities together with university partners. It currently has projects with the University of Pennsylvania and Drexel University in Philadelphia, Washington University and the University of Missouri St. Louis, as well as many other markets.
“We have a truly unique real estate stock with space for laboratories, offices and clinical facilities not found in many communities,” said Aric Bopp, executive director of economic development and innovation zones for ASU. “We are fortunate to have a world-class development partner like Wexford building a cutting-edge space for life sciences and biotechnology in a dynamic city like Phoenix with a university focused on innovation, access and impact”.
In addition to 850 PBCs, Wexford Science & Technology has a letter of intent to develop a second and third buildings for ASU on the northern end of the Phoenix Bioscience Core. These future developments, which are still in the planning stages, could be 12 to 14 stories tall and include university and private laboratories and office space. Further parts of the plan include large public spaces, such as a green space, a convention center and shops on the ground floor.
For more information on applying to the Bioscience Growth Accelerator or to book a place in Connect Labs at 850 PBC, contact Kyle Jardine at [email protected] or 480 779-7181.