Oxford BioEscalator opens for medical startups
The University of Oxford has opened a new innovation centre for early-stage medical science companies.
The BioEscalator, located on the university’s Old Road Campus in Headington, is designed for small and growing medical science businesses and acts as a entrepreneurial biosciences hub for the university and the region.
Oxford University’s Professor Matthew Wood, Chair of the BioEscalator Management Board, said: “In order for these ideas to reach the clinic and make a real impact on people’s lives, it is vital that they are nurtured at the risky early stages – the BioEscalator now provides the environment and expertise to do just that.”
Minister for Local Growth Jake Berry said: “This major investment will help accelerate discoveries in medical science by providing researchers, clinicians and entrepreneurs a place to work together to develop new and innovative ideas which will benefit people across the globe.”
The BioEscalator includes shared labs, desk space and meeting rooms. Entrepreneurs can start with one lab bench in a shared lab and later move to a private lab.
The centre already has more than 12 companies working on novel diagnostics, therapeutics and platform technologies for diseases, including Theolytics, an oncolytic adenovirus company, and MoA Technology, a plant genetics company.
Collectively the tenants employ 55 staff and have received £43.2 million in investment.
The BioEscalator is one of four innovation centres in Oxfordshire supported by the government’s City Deal, which has contributed £11 million to the centre.
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