Event Highlights Regional Growth in the Biotechnology Sector

Charlottesville, VA, October 25, 2018 - The CvilleBioHub partnered with UVA and the City of Charlottesville to secure an $80,000 grant from GO Virginia to promote the growth of the biotechnology industry in the region. A collaborative panel including representatives from UVA, GO Virginia, the CvilleBioHub, and Virginia Bio participated in a kick-off event to discuss this new initiative and how it will help advance progress in our community.

About the Panel:

• Nikki Hastings is a co-founder of the CvilleBioHub who has played a leading role in the operations development of biotech companies (Hemoshear, Contraline) in the region.
• Jim Cheng is former Virginia Secretary of Commerce and Trade in the McDonnell Administration and is Vice-Chair of the Council for GO Virginia Region 9.
• Pace Lochte is Assistant Vice President for Economic Development at the University of Virginia.
• Jeff Gallagher has been CEO of Virginia Bio since 2012 and has played a leading role in developing the biotech industry statewide.
• Martin Chapman is President and CEO of Indoor Biotechnologies and a Co-founder of the CvilleBioHub.

About the Discussion:

Panelists described the GO Virginia award process, highlighting this project's successful partnership across private industry, the University, and the city. GO Virginia has made entrepreneurship and innovation projects a priority for the state, with $1 million per year to fund economic development projects in our region alone. The CvilleBioHub grant is a great example of the kind of projects needed to take full advantage of the state's investment and to create impact in our region.

The award is a "capacity building" grant, meaning the Bio Hub  will be able to expand on their current mission of connecting and promoting the more than 50 existing life science companies currently operating in Charlottesville. The grant will allow the Bio Hub to develop a long-term strategic plan to increase the number of local biotechnology companies, attract top executive and scientific talent to existing companies, and engage with stakeholders to increase awareness of opportunities in the region. The event encouraged the community to take part in the conversation around shaping the future of the CvilleBioHub and the biotechnology industry in Charlottesville.

About UVA's Role:

A large portion of the University's research funding is related to biotechnology, making UVA a natural player in accelerating and sustaining industry growth. This project aligned with the University's economic development goal of leveraging University assets to support the region's innovation ecosystem and emerging industry clusters. UVA's AVP for Economic Development Pace Lochte stressed that UVA views this project as an opportunity to increase connections between the University and the local biotech community, which is an important and growing component of the local economy.

Program Director for Economic Development Denise Hubbard has committed a portion of her time over the next year to help drive a higher level of engagement between UVA and local biotech companies.

Robert Creeden from UVA's LVG Seed Fund, multiple licensing associates from LVG, Dr. Gordon Laurie from UVA's Biotechnology Training Program, and Dr. David Driscoll from the School of Medicine's Research Development Office were all present and acknowledged as additional UVA partners for biotechnology companies.