PA DCED Secretary Announces Five Economic Development and Technology Investment Projects That Will Create Nearly 500 Biosciences Jobs in Pennsylvania

    HARRISBURG, Pa., June 13 /PRNewswire/ -- Pennsylvania Department of
 Community and Economic Development (DCED) Secretary Dennis Yablonsky today
 announced Governor's Action Team (GAT) projects for five Biosciences companies
 that were offered approximately $5 million in state assistance to create and
 retain nearly 500 jobs in Pennsylvania.
     "The bioscience industry is transforming the commonwealth's economy by
 supporting new companies, creating jobs and contributing to community growth,"
 Yablonsky said. "Today's announcements demonstrate the commonwealth's
 commitment and tradition to innovation through our forward thinking and
 dedication to the life sciences industry. Projects like these ensure our
 continued growth and success in this constantly evolving industry throughout
 Pennsylvania and beyond."
     Yablonsky announced the following GAT projects:
 
     Agentase LLC is expanding its Allegheny County operations by relocating to
 a new facility in Harmar Township. The chemical engineering company completed
 the Research & Development (R&D) phase for its new products and needs to
 relocate to a facility with wet chemistry lab space. At least 54 jobs will be
 created within three years and 22 existing employees will be retained. The
 Governor's Action Team (GAT), economic development professionals who report
 directly to Gov. Edward G. Rendell and Yablonsky, and the Allegheny County
 Department of Economic Development worked with Agentase on this project. DCED
 offered the company a $328,300 funding package that includes: a $200,000 Small
 Business First (SBF) loan; a $50,000 Opportunity Grant; $24,300 in Job
 Training Assistance (JTA); and $54,000 in Job Creation Tax Credits (JCTC).
 Agentase is focused on the development and implementation of biocatalysts. Its
 products include anti-chemical warfare/terrorism sensors and pesticide
 remediation.
     Charles River Laboratories has outgrown its current Exton facility and
 plans to relocate to a new 60,000-80,000-square-foot facility in southeastern
 Pennsylvania. A location has not yet been determined. The company, a provider
 of solutions that advance the drug discovery and development process, will
 create at least 36 jobs within three years and retain 92 existing employees.
 DCED offered the company a $1.08 million financial package that includes:
 $450,000 Machinery and Equipment Loan Fund (MELF); $300,000 Opportunity Grant;
 $150,000 JTA; and $180,000 JCTC. Charles River Laboratories' products and
 services are designed to enable its clients to bring drugs to market faster
 and more efficiently.
     Integrated BioSciences Inc. (IBS) is expanding its existing Lewisberry,
 York County facilities and infrastructure by purchasing additional equipment
 and hiring new employees. At least 65 jobs will be created within three years
 and the company, which is a complete contract manufacturer of medical devices,
 automated equipment and "box build" electronics, will retain 22 existing
 employees. DCED offered the company a $705,000 funding package that includes:
 a $500,000 loan through MELF; a $75,000 Opportunity Grant; and $130,000 JCTC.
 IBS is an FDA registered, ISO 9001:2000 certified manufacturer that offers
 total project management for class I and II medical devices for companies
 looking to outsource the manufacture of their products, automated equipment or
 entire manufacturing programs.
     Isolagen Inc. has expanded operations by relocating its Texas headquarters
 and R&D to its existing Exton, Chester County, facility. The company, which
 specializes in the development and commercialization of cellular therapies for
 soft and hard tissue regeneration, will create at least 140 new jobs within
 three years. DCED offered Isolagen a $1.7 million financial package that
 includes: a $500,000 loan through MELF: a $400,000 Opportunity Grant; $100,000
 JTA; and $700,000 JCTC. The company's technology process has potential
 applications in cosmetic dermatology, cosmetic surgery, periodontal disease,
 reconstructive dentistry and other therapies. Isolagen has five secured
 patents and five additional patents pending.
     NanoDynamics Inc. has four existing business units and is creating a new
 division in the City of Pittsburgh - ND Life - in collaboration with the
 McGowan Institute of Regenerative Tissue. At least 50 jobs will be created by
 the company, which will leverage existing expertise in nanotechnology-based
 products to address needs and opportunities in the life sciences marketplace.
 DCED offered NanoDynamics a $1.15 million funding package that includes: a
 $500,000 loan through MELF; a $200,000 loan through SBF; a $200,000
 Opportunity Grant; $100,000 JTA; and $150,000 JCTC. NanoDynamics is a leading
 manufacturer of nanomaterials to improve the form, function and performance of
 industrial and consumer products. The new division is located in the
 Pittsburgh Life Sciences Greenhouse.
 
     "Today's announcements further demonstrate the commonwealth's leadership
 in supporting this important industry," said Fritz Bittenbender, president of
 Pennsylvania Bio, the state biosciences trade association. "From tradable R&D
 tax credits, to the Life Sciences Greenhouse Initiative, venture capital
 programs and more, Pennsylvania has created an environment that helps grow and
 sustain bioscience companies. With the continued support of the governor and
 the legislature, Pennsylvania will be a global leader in the biosciences."
     BIO International handpicked the commonwealth as the 2005 host state for
 the BIO 2005 Annual Conference, taking place June 19-22 in Philadelphia.
     For information on DCED funding, visit http://www.newpa.com. For
 additional information on Pennsylvania Bio, visit
 http://www.pennsylvaniabio.com.
     For information on each of the five companies announced today, visit the
 following websites:  http://www.agentase.com; http://www.criver.com;
 http://www.ibiosci.com; http://www.isolagen.com; http://www.nanodynamics.com.
 
     CONTACT:  Penny Kline, Pennsylvania Department of Community and Economic
 Development, +1-717-783-1132.
 
 

SOURCE Pennsylvania Department of Community and Economic Development

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