A planned Oro Valley biotech incubator has secured additional funding, with Pima County signing on to allocate up to $60,000 for development.
The biotech incubator, Oro Valley Innovation Labs, is intended to add to the growing high-tech industry in Pima County by providing space for nascent businesses to conduct research and product development, with a focus on medical diagnostics.
The allocation approved by the Pima County Board of Supervisors on Tuesday matches what the town of Oro Valley has already pledged, according to a county news release. Pima County will provide funding over the current and following fiscal years.
“There is a critical need in our region for accelerators to take innovative companies to the next level of growth,†said John Moffatt, director of the Pima County Economic Development Office, in a news release.
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The planned biotech incubator will be built in Innovation Park in Oro Valley and operated by the nonprofit Oro Valley Innovation Labs.
A major operating partner of the facility will be the University of ÃÛèÖÖ±²¥â€™s Campus Research Corporation, which operates the ÃÛèÖÖ±²¥ Tech Park on South Rita Road. Other partners include Venture West, Roche Tissue Diagnostics and Icagen.
