Rib-X was issued a U.S. patent in October 2003 for its proprietary technology on the high-resolution crystal structure of the 50S sub-unit of the ribosome, a target for many classes of antibiotics, including those used to treat both community-acquired and hospital pathogens.
Rib-X is just three years old, but it has quickly become one of the most celebrated start-ups to come out of Yale University, and is a big part of New Haven’s burgeoning biotech cluster. The company moved into a new 27,000-sq.-ft. (2,508-sq.m.) facility in 2002 and thus far has raised US$73 million in funding from venture capitalists and private founders. Rib-X is one of more than 30 biotech companies to emerge in Greater New Haven in recent years. The cluster is diverse, with companies involved in drug discovery, information technologies, proteomics and other areas of research.
I have positive feelings about the bio cluster in New Haven based on the strong science coming out of Yale,
says Dr. Susan Froshauer, president and CEO of Rib-X.
When I was thinking of a place to situate, we realized the importance of being near the founding science and near a critical mass of other science coming from Yale.
Froshauer says the New Haven biotech community has a beneficial intimacy where companies share resources. She attributes this to the newness of the cluster and the commitment of company leaders.
Another really neat part of bio in Connecticut is that all the major pharmas have major research sites here,
Froshauer says.
That certainly is a draw for talent. Folks retire from these companies and we can take advantage of it by using them as consultants.
One of those pharmaceutical giants is Pfizer, which is building a $35-million, 50-bed clinical research unit to evaluate new medicines. The 60,000-sq.-ft. (5,574-sq.-m.) facility is set to open in 2005 and is bringing attention to New Haven’s bio community.
Yale has been producing three to five biotech companies per year over the last several years. Although the pace slowed due to the difficult economy the last couple of years, it’s gaining speed this year with the birth of three new companies during the first quarter – and more on the way.
They come in spurts and are obviously being driven by the investment market,
says Jon Soderstorm, director of Yale’s Office of Cooperative Research.