DALLAS (WBAP/KLIF)- BioLabs, a top biotech laboratory operator, has selected Dallas as its first location in the central United States.
Following recently unveiled plans by J. Small Investments, in partnership with Lyda Hill Philanthropies, BioLabs is opening a 23-acre, mixed-use office campus located in Downtown Dallas Pegasus Park.
BioLabs at Pegasus Park, a new fully equipped 37,000 square foot flexible life science co-working facility offering shared and private laboratory and office spaces for early stage scientific ventures, will be strategically located in the heart of the rapidly expanding innovation district. The lab will contribute to the building of the already thriving start-up community in North Texas and positions Dallas as the next major hub for biotech and healthcare innovation. The lab, scheduled to open in 2021, will have premium scientific equipment and will offer additional services and amenities for resident companies.
“BioLabs is one of the biggest names in the biotech start-up industry. Their decision to choose Dallas as their first location in the central U.S. is significant for our city, region, and state. We are excited to team up with BioLabs as the key operator of the biotech laboratory and co-working facility,” says Nicole Small, CEO, LH Capital, Inc. and Lyda Hill Philanthropies. “Their presence is a signal of what is to come and will help accelerate our burgeoning North Texas biotech ecosystem already ripe with top-tier universities, corporate partners, and investors.”
Small added that “attracting entrepreneurs, scientists, companies, and investment funds to our community will bring high-paying jobs, big ideas, new technologies, and overall game changing innovation to North Texas.”
Commenting on BioLabs participation in the Biotech+ Hub, BioLabs Founder and President Johannes Fruehauf, M.D., Ph.D. said, “We understand just how hard it is to take great academic science from the bench into the clinic and ultimately improve human health, because — as entrepreneurs, startup founders, and funders ourselves — we’ve experienced this many times. Considering current extraordinary challenges in healthcare, the launch of BioLabs at Pegasus Park couldn’t be timelier and more relevant. We have no doubt that our proven business model will foster cross-creativity and collaboration with the region’s premier life science and healthcare innovators in North Texas. We are excited to partner with Lyda Hill Philanthropies to launch a BioLabs site in Dallas.”
“Pegasus Park is a big win on all counts — an economic engine bringing highly desirable STEM jobs to Dallas and West Dallas, a community for nonprofits to collaborate for the greater good, and a hub for corporate enterprise,” said Dallas City Council Member Omar Narvaez. “Best of all, J. Small Investments and Lyda Hill Philanthropies are renovating abandoned buildings in my district and transforming them into a state-of-the-art campus unlike any in North Texas. A key component of the Pegasus Park vision, the Biotech+ Hub will develop innovation across life sciences and enhance the region’s reputation for healthcare excellence. I am elated to have such an asset in my district.”
The total economic impact of operations is projected to include almost $49 million in annual gross product and provide at least 4,000.
