Phoenix Biotechnology Accelerator, LLC, or ‘P-Bio,’ got the go-ahead and a lease agreement from the Phoenix City Council last week for the first phase of development of its downtown incubator, which will be located on the northeast corner of 7th Street and Van Buren.
The parent company of P-Bio, Ribomed Technologies, will lease one-third of the 30,000 square-foot office building, and the remainder will house fledgling biotech companies seeking to get a foothold in the growing Valley biotech market.
The City Council agreed to an eight-year leaseback agreement on the 2.1-acre site, which is located at the heart of the future biosciences sector of downtown Phoenix. The sector will also house the Translational Genomics Research Institute, the Arizona Biomedical Collaborative of the three state universities, and the Phoenix Biomedical Campus, a joint effort between the University of Arizona medical school and Arizona State University.
For more information:
“Ribomed to move near TGen, offer bio accelerator,” 08/25/2004