Life Sciences VC Doubles Its Space With Move to Austin’s Bee Cave Complex
Emergent Technologies, a venture capital firm focusing on forming and managing life sciences companies that commercialize university-based research, is doubling its office space by relocating within Austin, Tex., to the Preserve at Bee Cave II, a new 23,000-square-foot building at 11412 Bee Caves Road, the Austin Business Journal reported.
The 8,000-square-foot first floor is earmarked for laboratory space, providing several of ETI's firms with state-of-the-art wet labs to conduct research. The two upper floors will house executive offices for ETI's staff, which has more than doubled to 24 people since fall 2006.
The Emerson Group developed the three-story office building, which is part of Strawn Properties' 70,000-square-foot Preserve at Bee Cave office and retail complex.
ETI relocated from less than 12,000 square feet at a nearby office building, 2508 Ashley Worth Blvd.
Thomas Harlan, president and CEO of ETI, told the Business Journal that the firm's growing portfolio of local businesses required more space. Also attractive to ETI was Emerson’s plan to develop another building within Bee Cave, which could accommodate any overflow in demand for lab space.
Drug Ingredient Manufacturer Plans Expansion of Germantown, Wisc., Facilities
Drug ingredient manufacturer Cambridge Major Laboratories has won approval from the Germantown, Wisc., village board to add a 116,700-square-foot building on Grant Drive, next to its 50,000-square-foot laboratory and manufacturing facility at W130-N10497 Washington Drive, in Germantown Business Park, the Milwaukee Journal-Sentinel reported.
Cambridge Major has been in Germantown Business Park since 2004, when it completed the $6 million Washington Drive facility. That building consolidated company facilities that were in Germantown Industrial Park and Milwaukee's far northwest side. Cambridge Major supplies active pharmaceutical ingredients to customers in the pharmaceutical and biotech industries.
Cambridge Major was founded in 1999 by Michael Major, the company's president and CEO. In February 2007, the Washington, DC, private equity firm Arlington Capital Partners acquired a majority stake in Cambridge Major. Last November, Cambridge Major acquired the drug ingredient supplier ChemShop B.V., of Wert, the Netherlands.
Report: Boston Convention Center Expansion May Include Auditorium for Biotech Events
Plans for expanding the Boston Convention and Exhibition Center may include an auditorium designed for life sciences and political events Dean Stratouly, a member of the state Massachusetts Convention Center Authority, told the Boston Herald.
The size of the auditorium has not been determined but it could seat thousands, Stratouly told the Herald, adding that the project has been demanded by life sciences groups as well as high-tech and financial firms: “We don’t want to sit back and wake up five years from now and find out the market has moved away from us.” Stratouly said.
Last October, the MCCA hired a team of consultants led by Sasaki Associates to study the feasibility of expanding the 516,000-square-foot convention center, completed in June 2004 at a cost of $800 million, with “at least preliminary findings and recommendations” due for completion by June 1, according to a news release issued at the time.
James Rooney, MCCA’s chief executive, told the newspaper that the expansion planning is still at a very preliminary stage, and that the authority has no timetable for expansion.
The Boston Convention and Exhibition Center hosted last year’s Biotechnology Industry Organization’s 2007 International Convention.
Wisconsin Industry Group Relocates HQ to Madison’s University Research Park
The Wisconsin Biotechnology and Medical Device Association has moved its headquarters to the University Research Park on Madison's west side, the Business Journal of Milwaukee reported.
The WBMA's new office address is 455 Science Drive, Suite 160, Madison, 53711. WBMA will join more than 100 tenant businesses that have all or some operations at University Research Park. In all, those businesses employ more than 4,000 people.
The state’s life sciences industry group said it needed the new space following an increase in membership to 225 firms last year, from 46 in 2001.
Grand Rapids, Mich., Joint Venture Doubles its Laboratory Space Within GVSU
The Center for Molecular Medicine has doubled its laboratory space from about 1,600 square feet to about 3,300 square feet on the top floor of Grand Valley State University’s Cook-DeVos Center for Health Studies in downtown Grand Rapids. CMM is now the largest tenant in the building.
CMM, a joint venture between Grand Rapids-based Spectrum Health and Van Andel Institute, is a research institute focusing on investigation of complex diseases like cancer, heart disease, and mental illness, as well as other conditions at the DNA, RNA and protein levels.