Company Brings Cancer Detection Test, Jobs
Hershey Center for Applied Research (HCAR) prepares to welcome another international company to its thriving research facility. Based in Dunedin, New Zealand, Pacific Edge Diagnostics, Ltd., a leading developer of cancer diagnostic and prognostic technology, plans to open its first US franchise to market the company's bladder cancer detection test, Cxbladder(R), to urologists in the United States by the end of the year.
Looking to build a better understanding of the US marketplace, Pacific Edge chose to bring its product to Hershey because of HCAR's direct engagement in nearly every aspect of the company's US commercialization to date.
"HCAR Executive Director, Jack Atchason, and his staff helped us understand the marketplace and the needs of our top prospects,"" David Darling, CEO of Pacific Edge, said. "His 18 plus years of Biotech/Pharma commercialization experience was a big asset in helping us build key elements of our plan."
"Convincing a company like Pacific Edge to open a facility in any location takes strong alignment of the location with the business needs, a strong value proposition aligned to these business needs, resources and support from all partners, and differentiators from other competitive locations," said Atchason. "Tenacity of the HCAR team to continue to build a relationship with Pacific Edge and show their executives why HCAR was the best choice made the difference. We work closely with the Office of International Business Development--a division of the Department of Community and Economic Development of the Commonwealth of Pennsylvania--to offer resources to help a start-up business like Pacific Edge achieve success quicker."
Darling added: "HCAR put us in touch with statewide groups whose main objective is to find support for international organizations looking to grow their business in Pennsylvania." HCAR currently has $2 million in non-dilutive capital still available for companies looking to locate to its Knowledge Community.
Pacific Edge plans to set up shop adjacent to HCAR's new Technology Suites. This EDA-supported (Economic Development Administration of the Department of Commerce) project will open in August and provide subsidized lab and office suites for technology companies. The 11,348 square-foot Pacific Edge facility will serve as an office and processing facility for the analysis of the Cxbladder(R) test. The test utilizes the expression of genes in the patients' urine to detect the presence of bladder cancer accurately and non-invasively.
Planning and construction for the new facility is currently underway. The launch of the company's franchise also calls for approximately 100 people to be newly hired and employed in Pennsylvania over the next three years.
ABOUT HERSHEY CENTER FOR APPLIED RESEARCH
As a Wexford Science and Technology, LLC and The Hershey Trust Company joint development project, the Hershey Center for Applied Research (HCAR) is building a Knowledge Community. Our strategic partnership with Penn State University and the Penn State Milton S. Hershey Medical Center offers domestic and international-based tenants access to advanced technology and other research resources, and immerses them in a climate of innovation.
With an ideal east-coast location convenient to New York, Philadelphia, Baltimore and Washington D.C., Hershey is an emerging research hotspot that offers a high quality of life and access to a well-educated and stable workforce. By leasing fully customizable research, manufacturing and office space while also providing integrated strategic business services tailored to each tenant, HCAR helps early stage to mature life sciences, nanotech and clean tech companies innovate and grow.
ABOUT PACIFIC EDGE
Pacific Edge Limited (nzx:PEB) is a New Zealand based cancer diagnostic company specializing in the discovery and commercialization of diagnostic and prognostic technology for the early detection and monitoring of cancer. Products in development and in clinical trials are accurate and simple to use genomic and proteomic tools for the earlier detection, improved characterization and better management of gastric, bladder, colorectal cancers and melanoma. The company has recently completed and released its first product for the detection of bladder cancer, Cxbladder(R) and is actively marketing the product to urologists in New Zealand, Australia and soon to be Spain and Portugal.
Source: Market Watch« Back