UTP and IIT are able to offer Sword the resources, expertise, and environment it will need to grow and expand for many years to come.
Chicago, IL (Vocus) April 27, 2010
Sword Diagnostics, Inc. , committed to improving healthcare through the use of innovative detection technology, today announced the relocation of its corporate headquarters and research facilities to accommodate planned growth. Double the size of its current space in the suburbs, Sword’s new location at University Technology Park at IIT (UTP) in Chicago marks its shift from start-up venture to growth-stage commercial entity.
Sword launched its proprietary biological detection system in January 2010, closely following the issuance of the company’s core patent. Developed for ultra-sensitive immunoassays, the technology allows greater sensitivity and improved accuracy in disease marker testing, without increasing cost or complexity. Such performance enhancements accelerate gains in basic and clinical research, drug discovery, and clinical diagnostics development, leading to advancements in disease detection.
"This is an important milestone for our company,” said Sword Diagnostics President Dave Dingott. "Our new facility at UTP not only offers more space, better working conditions for the team and access to university resources, but moving from suburban Chicago into the city also improves Sword’s ability to attract top talent with its metropolitan location – all key factors in our continued growth.
"The UTP lease allows us to expand into adjacent suites as the need arises without prematurely incurring costs. Wexford’s flexibility and willingness to partner with its tenants is critically important to high growth-stage companies like Sword Diagnostics.”
"Sword is a great example of the type of life science company that the Technology Business Center within UTP is designed for and dedicated to supporting,” said Catherine E. Vorwald, director of business development for Wexford Science + Technology, LLC. "UTP and IIT are able to offer Sword the resources, expertise, and environment it will need to grow and expand for many years to come. We are proud to add Sword to our growing roster of UTP tenants.”
Sword Diagnostics, Therapeutic Proteins, Chromatin, and Wrightwood Technologies will be among the UTP tenants who will participate in the Association of University Park’s (AURP) BioParks 2010 tour and reception at IIT on May 1. For more information on the two-day program, visit http://www.aurp.net/bioparks2010 .
About Sword Diagnostics
Sword Diagnostics is a life sciences company committed to improving healthcare through the use of innovative detection technology. Selling to research facilities in pharmaceutical companies, academia and government, Sword helps its customers develop more sensitive biomarker tests without increasing cost or complexity. Sword’s patented biological detection technology accelerates the identification of existing and emerging disease markers, making researchers’ dream of early disease detection a reality. For more information, visit http://www.sworddiagnostics.com .
About University Technology Park at IIT (UTP)
The University Technology Park at IIT (UTP) is home to more than 20 emerging
technology-based companies and the Illinois Institute of Technology’s Pritzker Institute for Biomedical Science + Engineering. Launched in 2006, UTP's mission is to move innovation forward by providing quality flexible lab and office space for technology companies at every stage of their growth, and by offering tenants the resources of IIT and the community. The park's four-building complex includes the Technology Business Center (TBC), a technology incubator, a 19-story office tower, and the IIT Research Institute. For more information, visit http://www.universitytechnologypark.com .
About Wexford Science & Technology, LLC
Wexford Science & Technology, LLC (http://www.wexfordequities.com)] is a privately held real estate investment and development company that delivers the real estate solution for science, technology, and healthcare based organizations. Headquartered in Baltimore, Wexford Science & Technology has projects in the contiguous United States with the University of Maryland, Baltimore, The Science Center (Philadelphia), Illinois Institute of Technology, Old Dominion University, the Hershey Center for Applied Research (Hershey Trust) , the University of Miami, and Wake Forest University.
For more information, contact:
Catherine E. Vorwald
Director, Business Development
Wexford Science + Technology, LLC
Sword Diagnostics, Inc.
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