News & Announcements
University of Maryland BioPark Welcomes Ablitech, Inc. as the Newest Commercial Tenant
February 3, 2012
Biotechnology company specializing in the development and commercialization of platform technologies moves to Baltimore
BALTIMORE, MARYLAND, February 3, 2012 – The University of Maryland BioPark announced today that Ablitech, Inc., a biotechnology company developing polymer-based delivery systems for gene silencing, has signed a lease for laboratory space in the BioPark’s BioInnovation Center. With its move to Baltimore, Ablitech joins an impressive line-up of commercial tenants in the BioPark, a biomedical research park on the vibrant academic medical center campus of the University of Maryland, Baltimore. The BioPark’s community of life science companies and academic research centers is commercializing new drugs, diagnostics and devices and advancing biomedical research.
“After thoroughly researching the best location to continue growing Ablitech, the UM BioPark rose to the top of the list among East Coast locations as our ideal choice for relocating,” said Ken Malone, Ph.D., Ablitech’s Chief Executive Officer. “Located in the heart of West Baltimore City and Maryland’s leading biotechnology cluster and offering flexibility of laboratory and office space in buildings developed by Wexford Science & Technology LLC, the BIoPark offers the best of all worlds for a growing biotech organization.”
Ablitech moved its operation from Hattiesburg, Mississippi to Baltimore. The company is currently hiring for three positions and is seeking venture funding and development partners to advance the research and clinical program for Versadel, its polymer-based product that carries certain gene silencing bits of genetic material that can be directed to targets such as cancer cells.
About the BioInnovation Center
The BioInnovation Center is an ideal environment for companies that require their own dedicated wet lab and/or office space, but may not be ready to build out their own space or commit to a long-term lease. The BioInnovation Center, which is made possible in part due to a $1 million loan from the Maryland Technology Development Corporation (TEDCO), enables companies to expedite their time to market while conserving capital expenditures. BioInnovation Center companies can readily interact with the entrepreneurially charged research faculty of the University of Maryland—a leading public research university and medical center—and other life science companies in a collegial environment with high-level business services available and the research resources of the University nearby.
About the University of Maryland BioPark
University of Maryland, Baltimore is among the nation’s leaders in education, research, public service, and patient care. As the founding campus of the University System of Maryland, University of Maryland has celebrated more than 200 years of excellence. The 12-acre University of Maryland BioPark is driving the commercialization of new drugs, diagnostics and devices, bringing much-needed laboratory and office space to the area and encouraging collaboration among biotechnology companies and the university. Two multi-tenant lab and office buildings totaling 356,000 square feet and housing 24 tenants have been completed. A third commercial building is expected to begin construction in 2012. A new state of Maryland Forensic Medical Center—the most advanced in the nation—opened in summer 2010.
About Wexford Science & Technology, LLC
Wexford Science & Technology, LLC is a private real estate investment and development company that meets the growing and specialized facilities needs of for-profit and not-for-profit institutions, including universities, university-related research parks and healthcare systems. More information is available at wexfordscienceandtechnology.com.
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