BioLOGIC, the Covington-based life sciences accelerator is close to completing its second phase in the development of a life sciences corridor in the city. Roughly 7,500 square feet of new space for new labs, conference rooms, and offices is being built out inside the company's Russell Street headquarters.
The renovated space will accommodate expansion of several current tenants, as well as make room for the dozen or so companies who have expressed interest in moving into the Accelerator. Additionally, service providers will be on-site to work with these emergent entrepreneurs with support for regulatory, raising capital, supporting intellectual property, accounting, and other essential business activities.
“In 2008 bioLOGIC moved 4 companies to Covington; today 14 companies call bioLOGIC home,” said Charlie LeCroix, PhD, Chief Operating Officer of bioLOGIC. “Populating our second floor and mezzanine with growing life
science companies completes Phase 2 of our goal to develop a life science corridor in Covington.”
The new space is critical to regional biotech companies seeking to benefit from the Commonwealth of Kentucky’s SBIR/STTR Matching program. Successful applicants are awarded grants of up to $150,000 for Phase1 and up to $500,000 per year over 2 years for Phase 2. bioLOGIC is working with community partners to develop additional programs to support these companies upon the completion of this space.
What bioLOGIC is: Founded in 2007 and headquartered in Covington, KY, bioLOGIC LLC is a Life-Sciences Accelerator offering office/conference/lab space, management and investment services expediting commercialization of life science ideas. bioLOGIC focuses on emerging companies seeking to commercialize strong life science technologies ranging from the latest diagnostic tools to creative advancements in the world of pharmaceuticals. These successes act as a magnet to attract other life science companies to locate their operations in bioLOGIC and/or the immediate area surrounding the Russell Street location contributing to a strong, dynamic local economy.