Southwestern Participates in New Georgetown-Based Biotechnology Center
This new center will help companies that have commercially viable biotechnology products take them to the next step.
Southwestern University is among the founding partners of a new Georgetown-based biotechnology center that has the potential to revolutionize healthcare in the United States.
The new center is called the Texas Life Sciences Commercialization Center (TLCC). Its purpose is to help companies that have commercially viable biotechnology products take them to the next step.
“The center provides administrative support so companies can concentrate on product development,” explains TLCC President Russ Peterman. Support services include business consulting, accounting, legal services, and advice on securing venture capital and other funding sources.
TLCC has begun operation in a 15,000-square foot building located in the Georgetown South Commercial Park. Three companies are currently located at the center: Orthopeutics, Quantum Logic Devices and Radix BioSolutions.
Orthopeutics has developed a process to inject tissue to repair disc problems in the spine. This process could replace surgery and cut the cost of treating back problems by a factor of 10.
Quantum Logic Devices has developed a device that can analyze biological reactions at the molecular level. This technology that could revolutionize drug discovery and medical diagnosis.
Radix Biosolutions develops custom assay products for customers in industries such as agriculture and pharmaceutical research.
“The synergies created by the co-location of these companies is phenomenal,” Peterman said.
Southwestern has provided in-kind support to the new center. Other partners on the project include the City of Georgetown and the Georgetown Chamber of Commerce.
Ron Swain, who serves as senior advisor to the president of Southwestern, is a member of the TLCC’s Board of Directors.
“We are very grateful for Southwestern’s partnership in the TLCC,” Peterman said.
A conference marking the official opening of the center was held at Southwestern Nov. 29. Speakers included representatives from all three companies as well as a variety of public officials.
The new center will provide internships for students who are interested in careers in medicine as well as those who want to learn about technology commercialization.
Peterman noted that TLCC is part of a “Bioplex” emerging in the five-county region surrounding Austin. Already, 76 companies involved with biotechnology and the life sciences call this region home.
“This is an exciting thing for Georgetown, the region and the entire state,” Peterman said.
For more information on TLCC, visit http://www.texaslifesciences.com.