SPECIAL ADVERTISING SECTION
Why Purdue Research Park?
Located in West Lafayette, Ind., about two miles north of Purdue University's main campus, the Purdue Research Park is focusing its resources on companies in the fields of life sciences, information technology, and advanced manufacturing technology.
One of those resources is the largest, university-affiliated business incubation complex in the country. This incubator, administered by the Purdue Research Foundation, helps startups with flexible leases, reasonable rental rates, and facilities that feature state-of-the-art laboratories, videoconferencing, and high-speed Internet connectivity. Services important to the growth of new companies also are offered, including marketing, public relations, and human resources assistance.
Long known as a premier university in the areas of engineering, analytical chemistry and pharmaceutical sciences, Purdue is well-suited to spawn biotechnology companies in the areas of tissue engineering, pharmaceutical testing, medical devices, medical diagnostics, proteomics, and drug-delivery technologies.
Many new companies are forming at the park to take advantage of Purdue's life sciences strengths. This fall, the park's new $5.3-million Allen Chao Center for Industrial Pharmacy will begin production of "rare legacy drugs," pharmaceuticals that are in demand but on a far lesser scale than well-known, first-choice medications.
The park also is welcoming spin-offs from Improteo, a company formed with an investment from Indianapolis-based Eli Lilly and Co., Purdue, and Indiana University to fund academic research in the areas of proteomics tools. Tienta Sciences Inc. will bring proprietary technology to the marketplace that increases the sensitivity and utility of Raman, infrared and mass spectrometry for protein discovery and analysis.
While new life sciences-related companies are moving into the park, existing park ventures are expanding. Cook Biotech will begin increased manufacturing of its wound-healing tissue OasisTM when it opens its 55,000-sq.-ft. facility in September 2004. More than 200 new jobs are anticipated in conjunction with the expansion.
At a critical time in the company's development, the Purdue Research Foundation is providing new labs for Endocyte Inc., a company developing Purdue-licensed technology that uses the vitamin folate to target and destroy cancer cells without harming healthy tissues. Endocyte secured more than $15 million in its last round of funding -- leading Indiana's venture capital investment pack -- and anticipates another $30 million in the next round.
Endocyte is one of a dozen companies that benefit from the park's Life Sciences Council, a venue that provides opportunities for the exchange of information pertinent to the life sciences industry and for inter-company research collaborations. Council members include park companies SSCI Inc., MED Institute, Cook Biotech Inc., Bioanalytical Systems Inc. (BASi), Vista Biosciences LLC and Akina Inc. among others.
An important ingredient in the park's life sciences mix is to be found back on the Purdue campus with the unfolding of the university's five-year strategic plan. This plan cites both discovery and engagement as defining features.
As a result of the plan, Purdue's new $100-million Discovery Park is expected to provide the interdisciplinary structure essential for the creation and growth acceleration of university-generated entrepreneurial ventures in the areas of biomedical devices and nanotechnology.
One of those resources is the largest, university-affiliated business incubation complex in the country. This incubator, administered by the Purdue Research Foundation, helps startups with flexible leases, reasonable rental rates, and facilities that feature state-of-the-art laboratories, videoconferencing, and high-speed Internet connectivity. Services important to the growth of new companies also are offered, including marketing, public relations, and human resources assistance.
Long known as a premier university in the areas of engineering, analytical chemistry and pharmaceutical sciences, Purdue is well-suited to spawn biotechnology companies in the areas of tissue engineering, pharmaceutical testing, medical devices, medical diagnostics, proteomics, and drug-delivery technologies.
Many new companies are forming at the park to take advantage of Purdue's life sciences strengths. This fall, the park's new $5.3-million Allen Chao Center for Industrial Pharmacy will begin production of "rare legacy drugs," pharmaceuticals that are in demand but on a far lesser scale than well-known, first-choice medications.
The park also is welcoming spin-offs from Improteo, a company formed with an investment from Indianapolis-based Eli Lilly and Co., Purdue, and Indiana University to fund academic research in the areas of proteomics tools. Tienta Sciences Inc. will bring proprietary technology to the marketplace that increases the sensitivity and utility of Raman, infrared and mass spectrometry for protein discovery and analysis.
While new life sciences-related companies are moving into the park, existing park ventures are expanding. Cook Biotech will begin increased manufacturing of its wound-healing tissue OasisTM when it opens its 55,000-sq.-ft. facility in September 2004. More than 200 new jobs are anticipated in conjunction with the expansion.
At a critical time in the company's development, the Purdue Research Foundation is providing new labs for Endocyte Inc., a company developing Purdue-licensed technology that uses the vitamin folate to target and destroy cancer cells without harming healthy tissues. Endocyte secured more than $15 million in its last round of funding -- leading Indiana's venture capital investment pack -- and anticipates another $30 million in the next round.
Endocyte is one of a dozen companies that benefit from the park's Life Sciences Council, a venue that provides opportunities for the exchange of information pertinent to the life sciences industry and for inter-company research collaborations. Council members include park companies SSCI Inc., MED Institute, Cook Biotech Inc., Bioanalytical Systems Inc. (BASi), Vista Biosciences LLC and Akina Inc. among others.
An important ingredient in the park's life sciences mix is to be found back on the Purdue campus with the unfolding of the university's five-year strategic plan. This plan cites both discovery and engagement as defining features.
As a result of the plan, Purdue's new $100-million Discovery Park is expected to provide the interdisciplinary structure essential for the creation and growth acceleration of university-generated entrepreneurial ventures in the areas of biomedical devices and nanotechnology.
