updated: 4/30/2009 1:11:43 PM
A life sciences company once based in Cincinnati is moving to a new home at the Purdue Technology Center in New Albany. IKOTECH LLC was originally a spin-off from Indiana-based TechShot Inc. President David Kennedy says the company's business will focus on helping clinicians who are interested in getting into cellular therapeutics. Kennedy expects the company to be fully moved in to the Technology Center by May 1.
Source: Inside INdiana Business
NEW ALBANY, Ind. and WEST LAFAYETTE, Ind. – A life science company relocating from Cincinnati will move into the Purdue Technology Center of Southeast Indiana, officials announced Thursday (April 30).
IKOTECH LLC, established in 2005, has developed an advanced magnetic cell sorting technology used in cancer diagnostics, diabetes therapeutics, cellular therapeutics and other healthcare applications. The company is a spinoff of Techshot Inc., a technology development company based in Greenville, Ind.
"Indiana is good location for IKOTECH because of the state's strong life sciences initiative," said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation, which manages the Purdue Research Park system. "One of our strategic initiatives is to advance life sciences in the state and we can do this by fostering positive collaborations among Purdue University researchers and other companies in and around the state of Indiana."
David Kennedy, president of IKOTECH, said the company has already formed a research partnership with James F. Leary, professor of basic medical sciences and biomedical engineering in the Bindley Bioscience Center in Purdue's Discovery Park.
"We wanted to be part of the Purdue Technology Center of Southeast Indiana because it represents the central focus for innovation in the area and because of the opportunities available through the Purdue Research Park system," Kennedy said.
Also announced is the hiring of Paul Moses as the center's business development manager. The New Albany, Ind., resident will work with entrepreneurs and owners of growing companies interested in moving into the Purdue Technology Center of Southeast Indiana.
"We have a great opportunity with the economic engine this center has created for us," Moses said. "This facility will provide the amenities and support system that entrepreneurs and expanding companies need to succeed and I am excited to help my community take advantage of these opportunities."
The Purdue Technology Center is one of four Purdue Research Park centers around the state that serve as incubators for startup or expanding companies. The other centers are in Indianapolis, West Lafayette and Merrillville.
The 40 acres of land used for the Purdue Technology Center of Southeast Indiana were donated to the Purdue Research Foundation by John and Jane Shine. John Shine is the president of Samtec Inc., an electronic interconnect manufacturer. Sam Shine, John's father, is the founder.
The center also will be used in cooperation with Indiana University Southeast to expand the Purdue College of Technology's academic offerings. The College of Technology at New Albany uses space in the center for classrooms, labs and faculty offices for its computer graphics technology, electrical engineering technology and mechanical engineering technology programs. Purdue's College of Technology offers bachelor's degrees in computer graphics technology, electrical engineering technology, industrial technology, mechanical engineering technology, and organizational leadership and supervision.
About Purdue Research Park
The 725-acre Purdue Research Park (http://www.purdueresearchpark.com) has the largest university affiliated business incubation complex in the country. The park is home to more than 160 companies. About 100 of these firms are technology-related and another 39 are incubator businesses. The Purdue Research Park is part of the Purdue Research Foundation, a private, nonprofit foundation created to assist Purdue University in the area of economic development.
Source: Purdue Research Park