NEW YORK (GenomeWeb News) – The University of Texas Southwestern Medical Center is developing a new biotech park on a 13-acre site in Dallas with up to 500,000 square feet of laboratory, office, and research space that also will serve as an incubator for startup biotech and medical device firms.
UT Southwestern said that it would provide tenants of the BioCenter with "privileged access" to several of its core research facilities including DNA and protein sequencing, mass spectrometry, imaging, and microarray analysis. “Such services offer a great advantage because the capital expenses for these capabilities would kill a small company,” Dennis Stone, vice president for technology development at UT Southwestern, said in a statement.
The BioCenter site was purchased for $4.1 million from the city of Dallas. The university said the purchase was funded through profits from its technology transfer program.
In addition, Dallas-based telecommunications firm AT&T is providing $750,000 over five years to the BioCenter to help tenants support training in entrepreneurship as well as job creation, attraction, and retention.
“We’re an untapped resource,” Stone said. “Ninety-five percent of biotechnology companies are founded on university-based inventions, so it makes eminent sense to have the development center in immediate proximity to the scientists who are creating new technologies.”