Icogenex Expands Its Biotech Incubator Space


SEATTLE, Aug. 22 /PRNewswire/ -- Icogenex Corporation announced
that it has expanded its biotech incubator space available for
sublease to start-up biotech companies.

Icogenex supplies full service biotech incubator space including
office and laboratory space as well as access to equipment for
molecular and cell biology investigations. This includes sterile
hoods, cell culture incubators, chemical fume hoods, glass wash and
autoclaving services, as well as centrifuges, PCR machines, water
bathes, and other equipment essential for basic molecular or cell
biology work. According to Dr. Frederick S. Hagen, founder,
President, and CEO of Icogenex, "With the acquisition of disposable
supplies, companies subleasing space in our facility have immediate
access to large and small laboratory equipment and can begin
experimentation within a few days." In addition, there are
intangible benefits to Icogenex sublessees of advice and counseling
from Icogenex executives who have many years of experience in the
biotech and pharmaceutical industries.

Icogenex's biotech incubator facility space supplies a niche
market to
start-up companies who are not yet highly capitalized. These
companies may be
financed with Small Business Innovation Research (SBIR) or Small
Business
Technology Transfer (STTR) grants from the National Institutes of
Health
(NIH), may have small amounts of independent financing in place, or
want a
fast start with venture investment funds. At these early stages, it
is often
very difficult to acquire all the equipment and secure independent
space for
initial operation. By subleasing biotech incubator space, a small
business is
able to provide proof of principle of their idea on a very low cost
budget,
allowing them to leverage their idea to greater capitalization. Dr.
Hagen
stated, "I know how difficult it was to find good biotech incubator
space when
I was founding Icogenex and how grateful I was when I secured the
initial
space."
Icogenex has been supplying biotech incubator space to start-up
biotech
companies in the Seattle area since 2002. Initially many of these
companies
are one to two person businesses. As they grow they rent additional
space from
Icogenex and eventually move out to larger independent facilities.
In addition to its biotech incubator business, Icogenex as a
Seattle-
based, privately held company is identifying and developing
therapeutic
compounds for the treatment of human diseases.

SOURCE Icogenex Corporation
Web Site: www.icogen.com

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