West Hampfield-based Lynthera Corp. plans to implement the $ 4 million Life Science Incubator project on 753 Indian Springs Drive, which will create 15 jobs and help make Lancaster a center of life sciences.
The company was approved to receive a $ 2 million grant from the state under the Pennsylvania Restructuring Capital Assistance Program, or RACP. Grants were announced last week for four projects in Lancaster County. Other grants go to the Lancaster Visitor Center, Rock Lititz and the Lancaster YWCA.
Lynthera said it would correspond to a grant of $ 2.14 million in private funds, including $ 1.2 million from land.
Lynthera wants to build a two-story building on a 9.3-acre site at the Stony Battery Corporate Center. The structural steel building will have a total of 26,000 square feet.
Lynthera Corp. is a biomedical company specializing in research and development of drug delivery and development technology. His initial focus is on eye diseases and the development of a number of concomitant therapeutic tools / diagnoses. Its headquarters and primary medical research point is located in Lancaster County.
Lynthera stated in its RACP application that the Lancaster Life Sciences Incubator (LLSI) will allow it to expand its capabilities and scope of medical research, integrate core research functions into an integrated facility and improve the engagement of research talent. It will provide laboratory facilities, mentoring and start-up services to other start-ups in the life sciences in the digital health, medical devices and related technologies sectors.
“An important component of our research mission is medical education / training,” Lynthera writes in her application. “The project will ensure the successful growth of the company, contribute to the future expansion of production / commercial operations in Lancaster County and the further development of the region as a center of life sciences.”
The extension will house a large wet laboratory for Lynthera medical research; a 500-square-foot conference room; and a flexible office space to be equipped for future conversion to a laboratory or for other use if necessary.
Lintera said the LLSI design is being developed following the success of the Leiden Biopartner Center in the Netherlands.
“Biopartner has successfully developed five facilities on its campus, which is a leading Dutch biotech hub and serves as a consultative role for Lynthera,” Lintera wrote.
Lynthera wrote that the grant will provide start-up capital to create an LLSI so that it attracts investment capital through a technology-based investment fund.
As of October, the company had a contract to purchase the site, the application said. Construction is expected to be completed six months after obtaining building permits. She has not yet applied for permits.
The State RACP is a general funding program aimed at regional economic, cultural, civic, recreational, and historical projects that are not eligible for primary funding under other government programs. Applications are made and commented on by the public. Awards are announced twice a year.
To qualify for funding, a project must increase or maintain current levels of employment, tax revenue, or other economic performance, and the developer must contribute to the project at least as much money as the grant amount.