Governor Beshear cuts ribbon on life science accelerator building
Announces new test developed in Kentucky to identify a personís risk for lung cancer
COVINGTON, Ky. (September 10, 2009) – Gov. Steve Beshear today joined state and local officials to mark the opening of a life science accelerator building that provides offices and laboratory space for start-up biotechnology companies developing anti-cancer drugs, genetic tests and medical instruments. The building will also serve as the new U.S. headquarters for bioLOGIC Corporation, a global life science accelerator company with offices worldwide. bioLOGIC, one of the owners of the facility, has already helped bring several biotech companies to Kentucky.
During the event, Gov. Beshear also announced that one of bioLOGIC’s resident companies, PHD Diagnostics, is launching a new genetic test, marketed as Respiragene™, which can identify smokers and ex-smokers who are at greatest risk of developing lung cancer. PHD’s subsidiary, Molecular Diagnostics Laboratory, will be the only lab in the nation processing these tests in which technicians extract DNA from cells and scientists then analyze specific sets of genetic markers to determine that individual’s likelihood of developing lung cancer.
“With Kentucky’s unfortunate claim to having the nation’s highest death rate from lung cancer, it is fitting that this test will be available first to Kentuckians and processed by a Kentucky company,” said Gov. Beshear. “Our hope is that the test, which only requires rubbing a swab inside the mouth, can motivate more people to enter smoking cessation programs and help them avoid this deadly cancer, as well as lower their risk of heart disease, stroke and other smoking-related illnesses.”
Other resident companies in the bioLOGIC building include Bexion Pharmaceuticals, which is developing anti-cancer drugs; NeoCytex Biopharma, which is researching drugs for Alzheimer’s and Parkinson’s Disease; PureWater, whose technology can help provide affordable clean water for households in developing countries; PrimeDP, a drug development company; and BotanoVation, a company developing over-the-counter natural health products.
“We’re happy to develop Northern Kentucky’s first life science accelerator and create a home for high-tech small businesses that are competing and succeeding in the global biotech field,” said Nigel Ferrey, one of the founding partners of bioLOGIC. “Today’s ribbon cutting for bioLOGIC and its resident companies signals that Covington is now home to a world-class biotech cluster.”
bioLOGIC Corporation, founded in 2006, offers management, technical, regulatory and investment services to companies that are commercializing life science ideas and technologies. The company has affiliates in Shanghai, China; Ft. Collins, CO; and Melbourne, Australia.
The Kentucky Cabinet for Economic Development, through its Department of Commercialization and Innovation, has provided funding to help support three of bioLOGIC’s residents: PHD Diagnostics, Bexion Pharmaceuticals, and NeoCytex BioPharma.
“It is rewarding to see the state’s investment in these companies pay off through the creation of marketable products and services, and high-paying jobs for people in Northern Kentucky,” said Larry Hayes, secretary for the Cabinet for Economic Development. “Our ability to attract global companies, such as bioLOGIC Corporation, to locate their headquarters in Kentucky is proof that our new economic development programs allow us to compete with any other state in the nation.”
A community profile for Northern Kentucky can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=049.
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The Kentucky Cabinet for Economic Development is the primary state agency in Kentucky responsible for creating new jobs and new investment in the state. New business investment in Kentucky in 2008 totaled nearly $1.7 billion with the creation of more than 7,750 new jobs. Information on available development sites, workforce training, incentive programs, community profiles, small business development and other resources is available at www.ThinkKentucky.com <http://www.thinkkentucky.com/> .