ST. PAUL-MD Biosciences, a spin-off of a Swiss medical firm, is coming to St. Paul's new biosciences incubator project in development on the west side of the city.MD Biosciences has signed a lease for temporary space in Energy Park and will be permanently locating in the life sciences incubator at 1000 Westgate when that facility opens in 2004. The life sciences incubator facility is a joint project of the City of St. Paul, the University of Minnesota and several corporate sponsors including Xcel Energy, 3M and Medtronic.
MD Biosciences has already leased 650 sf and has hired someone to manage its St. Paul operations. The company is considering substantial additional expansion in St. Paul once it is situated here.
“We chose St. Paul over Boston and the West Coast due to its central accessibility, the close association with the University of Minnesota and the area's commitment to bioscience development,” said Eddie Moradian, executive at MD Biosciences, who is setting up the firm's operations in Minnesota. Company officials were attracted by the area's educated work force.
MD Biosciences is the first outside company—that is, a company beyond about 10 commercial start-ups expected to come out of the University of Minnesota—to commit to the new bioscience incubator that the city of St. Paul bought and hopes to turn over to a new University Enterprise Laboratories operation next year.
“MD Biosciences is the kind of company that Minnesota is trying to attract,” says Ray Frost, executive director of MnBIO, a Minnesota biosciences trade association.
Founded in Switzerland in 1999 as a division of Morwell Diagnostics GmbH, MD Biosciences is a rapidly growing, globally active company providing solutions to the pharma-biotech sector. Morwell has facilities in Europe, US, Canada and Israel.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
