The Pennsylvania Biotechnology Center (PABC) is pleased to announce a partnership with The Discovery Labs, which will bring PABC’s successful business incubator model to a second location within the new Discovery Labs campus in King of Prussia. The Discovery Labs is redeveloping GlaxoSmithKline’s one million square foot Upper Merion West Campus and Innovation at Renaissance in King of Prussia into the largest “coworking” ecosystem for healthcare, life sciences and technology-enabled companies in the country.
At the heart of the community is IQ Connect, The Discovery Labs incubator, a partnership with the Pennsylvania Biotechnology Center. IQ Connect is a 100,000-square-foot business incubator and laboratory, which will bring together researchers, entrepreneurs and product development startups, along with human resources, venture capital, investment banking and other business services to pursue discovery and development of transformative scientific, life sciences, tech-enabled industrial, venture and consumer products.
Recently named one of the most successful life sciences incubators in the country, the Pennsylvania Biotechnology Center will replicate its unique and supportive ecosystem as it partners to manage the new IQ Connect site. PABC uses a highly successful services-based approach to nurture and guide nearly 40 small to mid-size member companies at its Doylestown location, and plans for an additional 40-50 early stage companies to be located within IQ Connect. IQ Connect is anticipated to open Fall 2019.
“The Pennsylvania Biotechnology Center has a strong track record of growing successful new companies through our unique combination of resources and professional support. We are excited to expand our model to The Discovery Labs to build an environment that nurtures entrepreneurs and brings new discoveries to market,” said Lou Kassa, Executive Vice President and Chief Operating Officer of The Pennsylvania Biotechnology Center.
PABC is also growing at its Doylestown location, launching a major expansion effort slated to break ground late summer 2019. The expansion will add an additional 40,000 square feet of space, including laboratories, office space and an auditorium, and is expected to create 100 new jobs at the Doylestown facility. The expansion will include the creation of the Hatch BioAccelerator, a program for a limited number of select concept-stage companies, providing office and laboratory space, mentoring, consultation, and advisory services, in addition to access to the supportive entrepreneurial ecosystem of the Center.