Biotech’s rising Austin prominence reflected in latest ATI graduates
From the Austin Business Journal:
Austin’s emerging biotechnology industry is reflected in the latest graduating class of the Austin Technology Incubator. Six of the 19 companies recognized during a (Sept. 7) event at the University of Texas operate in the biotech sector.
Factors such as the creation of the Dell Medical School at UT, the construction of more wet labs at Austin Community College and funding from sources such as the Cancer Prevention and Research Institute of Texas are fueling the growth, ATI Director Isaac Barchas said. “All this stuff happening together has gotten us to this point,” he said.
This year’s class of ATI graduates, which refers to companies that have been in business for at least two years, have raised $223 million in investment capital. One of them, Aeglea BioTherapeutics Inc., completed an initial public offering earlier this year. Two others have been a part of mergers and acquisitions.
Other local biotechnology graduates included Alafair Biosciences Inc., which is ramping up manufacturing of its lead medical device after receiving federal clearance and $2 million in venture capital, and Curtana Pharmaceuticals Inc., which has been awarded more than $7.6 million in grants and will participate in a startup demo day in Washington, D.C., on Sept. 20 hosted by the National Council of Entrepreneurial Tech Transfer.