Philadelphia, PA (PRWEB) December 12, 2013
Two new biotechnology companies, Targeted Therapeutic Solutions, LLC and Innolign Biomedical, LLC have begun operations at the University City Science Center’s Port business incubator at 3711 Market Street, in Philadelphia.
Both startups launched as part of the University of Pennsylvania’s UPstart Program. They will utilize laboratory and office space at the Science Center to pursue product research and development programs. They have each received Phase 1 Small Business Innovation Research (SBIR) funding from the National Institutes of Health.
Targeted Therapeutic Solutions LLC (TTS), is currently developing one of their lead technologies, a unique agent that can potentially reduce the incidence of stroke and its associated maladies. This therapeutic approach has the potential for reducing bleeding risk than existing clinical agents, making this technology useful for patients with or at risk for pulmonary embolism, deep vein thrombosis and certain types of heart attacks.
Innolign Biomedical is a biotechnology company utilizing its novel microfabrication technologies and expertise in tissue engineering to develop high throughput organ-on-chip assessment platforms for the pharmaceutical industry and to design novel biomaterials as products for promoting therapeutic tissue regeneration.
“These two new companies complement the diverse composition of the Science Center’s Port incubator,” Science Center Vice President Science & Technology Christopher J. Laing, MRCVS, Ph.D., said. “The University of Pennsylvania’s UPstart Program is creating an exciting pipeline of startups in biotech and emerging technologies. We are delighted to provide an ecosystem that will allow these companies to continue to grow.”
As of Dec. 1, the 45 current residents of the Port include startups in life sciences, healthcare, IT, emerging technologies and support organizations. Combined, they deploy more than $27 million in risk capital, and employ 92 people.
About the Science Center
The University City Science Center is a dynamic hub for innovation, entrepreneurship and technology development in the Greater Philadelphia region. Its Port facility provides business incubation, programming, lab and office facilities and support services for entrepreneurs, startups, growing and established companies. The Science Center was the first, and remains the largest, urban research park in the United States. Since it was founded in 1963, graduate organizations and current residents of the Port business incubator have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. The Science Center is celebrating its 50th anniversary in 2013. For more information, visit sciencecenter.org.