CONTACT: Jessica Trzyna
410.727.6855 or [email protected]

BALTIMORE, MD (2/7/08) --- To accelerate the growth of Baltimore’s bioscience industry, Wexford Science + Technology – developer of the University of Maryland, Baltimore BioPark Building Two and Three – and Baltimore City’s technology incubator, the Emerging Technology Center (ETC), have signed an agreement to coordinate incubation and leasing activities for early-stage bioscience companies.

Under the agreement, the ETC will provide business mentoring and incubation service assistance to early-stage life science and bioscience companies located at the University of Maryland BioPark. In return, the BioPark will promote the ETC services to tenants and prospects and offer laboratory space to ETC tenant companies.

While the ETC traditionally has provided physical office space and needed business equipment for IT and other technology companies, it does not have wet labs and other facilities required by bioscience companies.

“This agreement will allow start-up biotech and life science firms to locate at the University of Maryland BioPark in physical space which can accommodate their unique needs, while still receiving the business mentoring, technical, and networking services that traditionally have been provided by the ETC and that are essential to helping these companies grow,” says ETC Executive Director Ann Lansinger.

Both Wexford and the ETC anticipate that the BioPark’s new BioInnovation Center, the first and only flexible, modular lab suites of its kind in the region, will be of particular interest to early-stage bioscience firms. The BioInnovation Center meets the requirements of the most demanding science environments, while offering short-term leasing arrangements, rapid move-in with pre-built wet lab and office space, lower rental rates that include utilities, shared room for equipment and conference facilities, and phone/internet connectivity.

“Wexford was very interested in collaborating with the ETC as they are well known for creating an environment in which like-minded start-ups can accelerate their potential through partnerships, joint ventures, and other collaborations. That is exactly the kind of atmosphere we want to replicate for the bioscience early-stage companies at the University of Maryland BioPark,” says Catherine E. Vorwald, Director of Business Development for Wexford Science + Technology.

According toVorwald, the new agreement will allow the ETC and University of Maryland BioPark to work together in a variety of ways, from referrals and co-promotions to actual tenant prospecting. “Bottom line, this is a winning proposition not just for the ETC and the BioPark, but for Baltimore’s growing bioscience sector,” she notes.

The ETC has a strong track record in generating successful companies. In 2007 alone, current and graduate ETC companies raised nearly $520 million in outside funding.

Beyond, fully wired office space, and below market rates, the ETC now extends their reach to lab-based early-stage companies to help them access customized business and technical assistance – all geared to the specialized needs of each company. This assistance includes business mentoring, management advice, assistance in writing and implementing business plans, counsel with respect to HR issues, introductions  to professional services such as legal and accounting, and networking contacts.

The emerging companies in the BioInnovation center will have the mentoring muscle of the ETC Affiliate Member Program and the close proximity to the University of Maryland medical and pharmacy campus that serve to provide core facilities as well as efficient collaboration that will accelerate their path to the patient and marketplace.

Therefore, the University of Maryland BioPark has designed a particularly effective combination for emerging bioscience companies in Baltimore: University-affliated and integrated BioPark environment, the ETC customized high-end business resources, and Wexford’s pre-built modern labs and offices available on a short-term basis in the new BioInnovation Center.

About the ETC

The ETC is a non-profit business incubator, focused on growing early-stage technology and biotechnology companies. The ETC promotes economic development, providing business, technical, and networking connections to help these companies grow and prosper – adding to both the job and tax base of Baltimore City. To date, ETC client companies have received nearly $800 million in funding and have been issued over 200 patents. Since 1999 ETC has provided assistance to 142 companies and 80% of its graduate clients are still in business. ETC’s incubator facilities provide participating companies with direct, customized business assistance, including technical assessment, marketing assistance, business modeling, mentoring, and access to funding sources in addition to a wide array of physical amenities, including fully wired office space, flexible leases, shared basic services and equipment, and technology support. For more information, visit www.etcbaltimore.com.

About Wexford Science + Technology

A wholly owned subsidiary of Wexford Equities, LLC, Wexford Science + Technology is a privately held real estate investment and development company based in Baltimore, MD. With a team of real estate, finance and engineering experts, Wexford is devoted to developing innovative real estate solutions that inspire creativity and advance new technologies. For more information, visit www.wexfordequities.com.

About University of Maryland BioPark

The University of Maryland, Baltimore BioPark offers sophisticated laboratory and office space for early-stage to mature bioscience companies.  To date, the University of Maryland BioPark includes 360,000 square feet in two multi tenant buildings and one 638 space parking garage.  The project has created 200 jobs and $128 million in capital investment. Groundbreaking for a third building is scheduled for spring 2008.  The BioPark was named by the Association of University Research Parks as the best emerging research park of the year in October 2007.  For more information, visit www.umbbiopark.com.