New Biotech Accelerator to Launch at North Fork
The commonwealth’s biotechnology and innovation footprint is expanding, thanks to an award from the state’s GO Virginia economic development program and a close partnership between the University of Virginia and CvilleBioHub.
The award will add a vital business component to the state’s existing biotech ecosystem to bolster the success of high-potential, early-stage life sciences companies.
GO Virginia approved a $14.3 million funding package to three Virginia biotech accelerator organizations in response to a multiregional proposal called “Project VITAL: Virginia Innovations and Technology Advancements in Life Sciences.”
Each organization is collaborating with nearby research universities to build on biotech research and expansion in their regions.
"Creating new space of a similar caliber to what exists at North Fork would take years, and we are so excited to initiate this progress now."
CvilleBioHub, a regional, industry-led organization, received $4.3 million of the award and is partnering with UVA to establish the region’s first laboratory accelerator at North Fork, a UVA Discovery Park.
The accelerator will attract, build and prepare promising life sciences companies for commercialization of human health innovation in therapeutics, medical devices, tools and digital health aids to solve unmet needs in large markets.
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