OTRADI Bioscience Incubator welcomes its fifth and final company, filling the 13,000 squarefoot multi-tenant complex that opened June 19.
August 14, 2013
PORTLAND, Ore. — Oregon Translational Research and Development Institute (OTRADI) today announced that it filled the state’s first bioscience-specific incubator within two months of opening. OTRADI most recently welcomed Floragenex Inc. as its final OTRADI Bioscience Incubator (OBI) client company, filling the 13,000 square-foot complex and creating a charter group of five fledgling bioscience businesses.
Expected to incubate more than 50 high-quality jobs for Oregon’s bioscience sector within the first few years of operation, the OBI will house up-and-coming businesses 13therapeutics, Aronora, AbSci, Floragenex, and Senju Pharmaceutical, as well as a new Entrepreneur-in-Residence Dennis McNannay, Oregon Bioscience Association Executive Director. “The pace at which the OBI was filled underscores the demand for affordable wet lab space in the Portland area,” said OTRADI Executive Director Jennifer Fox, Ph.D. “Bioscience has a promising future in Oregon, and by addressing the growing need for sophisticated facilities, the OBI will incentivize bioscience companies to keep or bring their businesses and discoveries to Portland.”
Since joining the OBI, several client companies have already celebrated significant milestones, including 13therapeutics and Aronora, which received a collective $3 million in funding this year from the National Institutes of Health (NIH). Additionally, AbSci has grown its workforce by 200 percent since the OBI’s opening in June.
“Bioscience incubators around the nation have been successful in helping startups grow into prosperous enterprises. Based on its ability to generate significant interest and support from the health and sciences community, the OBI won’t be the exception,” added Fox. “We’re optimistic and eager to watch our client companies positively impact our community and strengthen the bioscience industry locally and beyond.”
All OBI client companies have access to world-class scientific expertise and more than $1 million worth of cutting-edge shared equipment, shared conference facilities and private lab and office space. Each client company commits to a one-year minimum lease, with the goal of encouraging existing companies to reach the next phase of growth and to open space for new bioscience companies in need of the OBI’s facility and offerings. Additional office space is offered as part of OBI’s Entrepreneur-in-Residence program intended to support and mentor bioscience-focused entrepreneurs.
A brief description of each of the OBI client companies is as follows:
Portland-based 13therapeutics Inc. is a research and drug development company that identifies and characterizes novel anti-inflammatory therapeutics. To date, the company has attracted millions of dollars in funding from the NIH. Currently, the company is working on its lead peptide, intended to prevent and treat noise-induced hearing loss.
Aronora is a biopharmaceutical startup that develops therapeutic agents used to treat severe, rapidly progressing or catastrophic thrombotic blood clotting diseases. Aronora is the recipient of multiple awards from the NIH, as well as a participant in Bayer’s Grants4Targets initiative.
AbSci developed a proprietary system that optimizes and scales the production of antibodies and therapeutic proteins used in cancer and hormone therapies, as well as autoimmune and blood disorder therapies.
Floragenex is a biotechnology company that specializes in RAD Sequencing, a breakthrough technology that enables scientists to efficiently discover and genotype large amounts of genetic information in any plant or animal system. Floragenex has clients in more than 20 countries across five continents and is based in Eugene, Ore.
Senju Pharmaceutical Co., Ltd.
Senju Pharmaceutical develops ophthalmological products for the ears, eyes, nose, skin and throat. For nearly three decades, Senju has collaborated with international research initiatives, academic institutions and researchers, and industry specialists around the world. After joining the OBI, Senju Pharmaceutical now operates two U.S.-based laboratories.
For more information about the OBI, please visit http://www.otradi.org/incubator.html. To
inquire about becoming an OBI client company, partner or sponsor, call Susan Thompson at