bioLOGIC Shows Off Russell Street Space, Announces New Funds, Expansion Plans
bioLOGIC, the life sciences incubator on Russell Street, invited the public to tour its facility and see up close the innovative processes taking place inside.
Bexion Pharmaceuticals, housed at bioLOGIC and chaired by former Covington Mayor Chuck Scheper, will soon sends it anti-cancer drug to trials early next year.
"We envisioned a place for smart, courageous people to work to make dreams come true and more and more of those dreams are happening and one of them is bioLOGIC," said Bexion CEO Ray Takigiku. "We're in the race and we're in it to win."
The incubator's concept is spreading. The CEO of SIDIS, the company that owns bioLOGIC, announced Thursday that a new office will open in Cincinnati and another will operate in Colorado.
"bioLOGIC is alive and well," Nigel Ferrey said, adding that SIDIS paid its shareholders $4 million in dividends last year.
The Duke Energy Foundation presented a check for $25,000 to bioLOGIC, accepted by Managing Director Keith Schneider, for the company's Innovate for Health competition.
Rhonda Whitaker of the Duke Foundation was in Covington in recent weeks previously to announce $320,000 in grants for multiple residential developments going on in the city.
"That's a pretty big deal for Covington," she said. "That tells you that what is happening in Covington is getting noticed."
"This is a great city with great assets like the one behind me," said Chuck Scheper, gesturing to bioLOGIC's home inside a former Germania reception hall. "Retrofitting urban buildings will lead to opportunities for new jobs. I'm sure we're just seeing the beginning of it."
bioLOGIC moved to Covington in 2009, rented the space on Russell in 2009, and has since purchased the building and recently completed a renovation of its upper floors while currently working on more expansion for increased lab space.
Ferrey also announced a soon-to-come partnership with Gateway Community & Technical College for science education. No further specifics were immediately available.
The more than two-hour event closed the block of Russell Street between Sixth & Pike Streets across from Covington Station and included tours of the offices where visitors learned about the specific work happening inside.
Photos from the tour follow below.