AngeloueEconomics Backed BioTech Center Opens in Austin Area

AUSTIN, Texas; January 3, 2008

AngelouEconomics (AE) is pleased to announce a success story in Georgetown, Texas. After statistically supporting and validating the Texas Life Sciences Commercialization Center (TLCC) it has officially opened its doors with considerable achievement.

In 2006, AngelouEconomics was engaged by stakeholders in Georgetown, Texas to conduct a feasibility and validation study for a Texas Life Sciences Commercialization Center (TLCC) to house early stage biotech companies with commercially promising technologies. AE examined key biotech specific variables present in the City of Georgetown and Greater Austin region, and determined the area had strong potential for future biotech growth and absorption of commercialization center space. Since the completion of the report, the City of Georgetown has committed to provide $260,000 in funding for the TLCC as an engine of innovation-based economic growth for the City and its residents.

On November 29, 2007, the TLCC opened its doors during a ceremony and ribbon-cutting event attended by local, regional, and state leaders. The TLCC has already secured three tenant companies who have begun operations at the Center: Radix BioSolutions, Orthopeutics, and Quantum Logic Devices. The Center is designed to attract and support post-incubation stage companies that possess technology of demonstrated commercial potential. By providing these companies with state-of-the-art facilities – including wet lab, clean room, and conferencing space – and a supportive environment that fosters collaboration, the TLCC will facilitate the transfer of their technology from ideas to marketplace.

The first of its kind in the Greater Austin region, the TLCC provides the region with a venue for the incubation and development of early stage biotechnology companies. Successful companies at this stage of development typically experience rapid employment growth, thereby providing high wage jobs and additional tax revenue for the local community. Because biotech companies tend to “cluster” in areas with high concentrations of similar companies, the development of a critical mass of companies can lead to a self-regenerating engine of high-tech economic growth. The City of Georgetown and surrounding areas are investing in this form of innovation-based economic development, and already seeing impressive returns.

For more information, call Daniel Klingler at AngelouEconomics or visit the City of Georgetown’s website: www.georgetown.org.