A planned Oro Valley biotech incubator has secured additional funding, with Pima County signing on to allocate up to $60,000 for development.
The biotech incubator, Oro Valley Innovation Labs, is intended to add to the growing high-tech industry in Pima County by providing space for nascent businesses to conduct research and product development, with a focus on medical diagnostics.
The allocation approved by the Pima County Board of Supervisors on Tuesday matches what the town of Oro Valley has already pledged, according to a county news release. Pima County will provide funding over the current and following fiscal years.
“There is a critical need in our region for accelerators to take innovative companies to the next level of growth,” said John Moffatt, director of the Pima County Economic Development Office, in a news release.
The planned biotech incubator will be built in Innovation Park in Oro Valley and operated by the nonprofit Oro Valley Innovation Labs.
A major operating partner of the facility will be the University of Arizona’s Campus Research Corporation, which operates the Arizona Tech Park on South Rita Road. Other partners include Venture West, Roche Tissue Diagnostics and Icagen.
