Malvern Biotech Firm Opens 23,000-Square-Foot Life Sciences Incubator
The incubator was established by 8BioMed in unoccupied space, which had been set aside for future potential expansion at its headquarters in the Great Valley Corporate Center.
Hubert Ho, COO of 8HUB and 8BioMed, said the incubator is a result of Philadelphia-area biotech companies continuing to see an increased need for research and development space despite Covid-19.
The company invested $12 million for renovations to create the incubator, with advanced processing equipment, at 273 and 275 Great Valley Parkway. Further unspecified improvements are planned for later this year, Ho said.
The 8HUB incubator falls within a Keystone Innovation Zone, so companies leasing space are eligible for tax credits to assist with operating expenses.
About 12,000 square feet of finished lab, bioprocessing and office space is available for leasing on a flex- or short-term basis. Another 11,000 square feet of Class A office space is available to be converted into five flex labs and shared facilities.
The company is partnering on the project with the Chester County Economic Development Council’s i2n program, which works with life sciences and advanced technology companies across the region.