, a Covington-based global life science investment and management company and life science accelerator, is doing some growing of its own. The company is working with the City of Covington, Kenton County and Kentucky state government to expand the city life sciences footprint.
"We are working very closely in a public-private collaboration to really catalyze the growth of the life science corridor in the city," said bioLOGIC partner Margaret van Gilse. "The City of Covington is giving us a building on Pike Street - we are looking to build it out in the next year."
The company is putting together financing and building plans, van Gilse said, which include putting a lab space and manufacturing facility into the former Tanino's Restaurant.
bioLOGIC is also expanding its current space at the 150-year-old Russell Street HQ this year, building out the 7,000 sq. ft., second floor. The addition will include office and lab space, along with classroom facilities, van Gilse said.
bioLOGIC houses eight life sciences companies. Its growth is being fueled in two areas: existing company growth and new ones looking to locate or relocate to Covington.
"(Our current companies) are really startups, most are pre-market and in the development phase of their products. These companies have begun to mature and are getting closer to market," she said.
One of those companies, Bexion Pharmaceuticals, will be hiring two summer interns and six full-time employees over the next 24 months. Another, Surgical Energetics, is planning to file for FDA approval for its first commercial product which could lead to hiring new employees. bioLOGIC will hire one new employee this year, van Gilse said.
Covington is a good location for bioLOGIC for several reasons, according to van Gilse. It's near research institutions such as Cincinnati Children's Hospital and the University of Cincinnati, which offer a pipeline of innovation that can be used to develop products that promote health. Corporations like P&G and GE offer a supply of top talent to draw from, and government leaders in Covington, Kentucky County and state government offer support and incentives that drive company growth.
"There is real interest in growing life sciences as economic development drivers," she said.
Writer: Feoshia Henderson
Source: bioLOGIC partner Margaret van Gilse
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