California’s Silicon Valley is known for its tech companies. In North Carolina, Raleigh-Durham boasts The Research Triangle – a hub for product development and education. Now, Virginia Beach wants to draw more than tourists and the military. The city is hoping to attract top health care and pharmaceutical companies.
Plans to create a biomedical park will take a major step forward tonight if council members vote to give 155 acres in Princess Anne Commons to the city’s Development Authority. It would be the first tangible move for an initiative that Mayor Will Sessoms announced two years ago to lure health care and biotech companies to diversify the economy.
The city’s efforts to become a home for biomedical research have started to pay off.
Sanyal Biotechnology, a Richmond-based company that works with lab mice, will relocate its headquarters to Virginia Beach in July. The company will take over space at Tidewater Community College’s Wet Lab, pending approval Tuesday from the Virginia Beach Development Authority, which will also vote on a $25,000 grant for Sanyal.
The move plays into the city’s push to diversify its economy with a health care hub. The Development Authority owns 155 acres in Princess Anne Commons and plans to build a biomedical park there.
Sanyal Biotechnology has announced plans to move its corporate headquarters and research facility from Richmond to Virginia Beach. The company will occupy the new 1,500-square-foot VABeachBio Accelerator, located at the Regional Health Professions Center at Tidewater Community College.
Sanyal Biotechnology was founded to further the work of Virginia Commonwealth University (VCU) professor Dr. Arun Sanyal, who spent a decade developing methods to test the impact of drugs designed to fight non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH). Dr. Sanyal will remain at VCU, where he treats patients and has a research lab, after the company moves to Virginia Beach.
Virginia Beach launched an initiative Tuesday aimed at boosting the biomedical and life science industries.
VABeachBio, a program approved by the Virginia Beach Development Authority, includes an agreement with Tidewater Community College to create a Bio Accelerator in the college’s Regional Health Professions Center, 1700 College Crescent, according to a news release.
Beach officials said they are hoping to build biomedical momentum in the Princess Anne Commons corridor, where the accelerator will be located. That area is home to LifeNet Health’s world headquarters and Institute for Regenerative Medicine, Operation Smile’s world headquarters, Sentara Princess Anne Hospital and two facilities operated by Children’s Hospital of The King’s Daughters.
Virginia Beach is looking to attract more biomedical and life science businesses by creating a Bio Accelerator at Tidewater Community College.
The economic development department approved a facility use agreement for 1,500 square feet of offices, meeting rooms and lab space in the college’s Regional Health Professions Center at 1700 College Crescent, according to a news release.
The initiative called VaBeachBio is designed to help bioscience companies get started in the city until they’re ready for a more permanent location. Entrepreneurs can also tap into college resources and expertise.
Earlier this month, the Virginia Beach Department of Economic Development launched VABeachBio (vabeachbio.com), an initiative to attract biomedical and life science businesses to the city.
The initiative is a creation of Virginia Beach Mayor Will Sessoms’ Bio Task Force, assembled in 2014 to “establish Virginia Beach as a destination for groundbreaking research and development and headquarters of some of the world’s leading innovators in health care, biotechnology, pharmaceutical development and health care delivery systems.”
The VABeachBio initiative seeks to capitalize on assets in the city’s Princess Anne Commons corridor, the current home of several bio and life science businesses and institutions of higher education.
Last week, the Virginia Beach Department of Economic Development launched VABeachBio, an initiative to attract biomedical and life science businesses to Virginia Beach and to create jobs, at the same time the Virginia Beach Development Authority approved a facility use agreement with Tidewater Community College (TCC) to create a Bio Accelerator in TCC’s Regional Health Professions Center.
VABeachBio also includes plans to develop a new business park in the Princess Anne Commons area along with a menu of incentives available to new and expanding businesses.