Incubator graduates wave of biotechs
Startups move on, with most staying in county
Tom Fedor/The Gazette
Maureen Gearheart of Histo-Scientific Research Laboratories digitizes bone imagery in the company's incubator lab.
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With two success stories already, Frederick County's business incubator is graduating six more companies, most of which are setting up shop in the county.
Frederick Innovative Technology Center Inc., known as FITCI, opened in a 10,000-square-foot space at Hood College in Frederick in early 2005. It opened a second location in an 11,000-square-foot space off Buckeystown Pike in 2007 and, with 25 more offices and 10 research laboratories, quickly filled to capacity.
While the sudden wave of graduates will leave the facility under-occupied for several months, director Michael J. Dailey said FITCI officials are "very fortunate and are absolutely delighted in the quality of these companies."
"They're all graduating for different reasons," Dailey said. "Obviously, the program is working. We are very pleased and are looking to our next crop of candidates."
FITCI is one of roughly 20 business incubators in Maryland offering administrative support and counseling to promising high-tech startups. The incubator, with a goal fostering high-tech job growth, receives support from Frederick County, the city of Frederick, the Maryland Technology Development Corp. and the state Department of Business and Economic Development, plus private investments.
FITCI's first two graduates were BioElectronics Corp., which has developed an electronic skin patch for post-surgical and other healing purposes, and Akonni BioSystems, which is developing a diagnostic tool for physicians called TruArray. Both companies remained in Frederick.
Histo-Scientific Research Laboratories started its lab with three employees at FITCI in 2007 to analyze animal tissue. Serge Rousselle of Woodsboro, director of pathology, said recently that he anticipates the company will bring 20 jobs to its 10,000-square-foot quarters on Frederick Road in Thurmont next month. The new building will allow the company to eventually triple in size.
"They've had dramatic growth," Dailey said. "HSRL is an amazing example of the need for pathology services in Frederick. They really took advantage of a major market."
Snagging $6 million in grants and procurements, Integrated BioTherapeutics, which researches vaccines against toxins, recently moved to Germantown for larger lab space, signing a two-year lease. The company was recently named Maryland Incubator Firm of the Year, an award sponsored in part by DBED and Tedco.
"IBT graduated, quite frankly, in record time," Dailey said. "In my opinion, they are on track to become the next MedImmune in Maryland." MedImmune was Maryland's largest biotech before it was acquired for $15 billion in 2007 by AstraZeneca of England.
Imagilin Technology, which develops three probiotic products to boost immune systems in animals, has seen exports to Japan and Taiwan dramatically increase and will move next month to quarters on Monocacy Avenue in Frederick. The company is working on a similar product for humans.
APE-BridgePath — a result of a recent merger between two incubator companies, Advance Product Enterprises and BridgePath Scientific — will move to warehouse space near FITCI's second location on Metropolitan Court. Advance Product Enterprises' services focused on both AIDS research and testing biofuels, while BridgePath assisted companies with the logistics of opening new laboratories.
ChromoTrax, which is developing diagnostic and treatments for genetic-based diseases such as cancer, is expected to partner soon with APE-BrigePath's efforts, Dailey said.
Cybrdi, which provides human tissue arrays for scientists, will move to Potomac this month.
A seventh company, Tox Path Specialists, started by Mark Butt, has been receiving business support services from FITCI and is expected to become independent this year. Butt, a local newspaper columnist and author, founded the veterinary pathology company in July 2007 in Walkersville.
With 34 remaining clients at FITCI, Dailey said last week that he was processing four applications from startups and receives about three inquiries per week about opportunities there.
fitci entrepreneur seminars
FITCI will hold a free lecture series for aspiring entrepreneurs on Thursdays from Sept. 18 through Nov. 20. Seminars will be held from noon to 1:30 p.m. at the Frederick County Community College's Conference Center, Room E124AB. Lunch will be served. The first seminar is on success stories from technology entrepreneurs. Registration: 301-694-2999.