Friday, September 4, 2015

FITCI to Graduate BioFactura and Poochon Scientific

The Frederick County Office of Economic Development was joined by Maryland State Delegate Kathy Afzali, former U.S. Congressman Roscoe Bartlett and other state and local representatives to tour BioFactura and Poochon Scientific's new manufacturing facility located on Progress Drive in Frederick, MD this week.

Both companies will be graduating from the Frederick Innovative Technology Center, Inc (FITCI) and co-locating to 5500 sf of space located at 8435 Progress Drive with plans to occupy their new space in October 2015. They expect to double their workforce this year to 15 employees and plan to add additional employees next year.

For over 10 years, BioFactura has been advancing life-saving medicines from the research bench to the patient using its innovative drug development and manufacturing technologies. Current and past programs include biodefense drugs against smallpox and Ebola, novel medicines for cancer, and low-cost/high-quality biosimilars for autoimmune and infectious diseases.  In September 2014, the company along with its collaborators was awarded an NIH Partnership grant to develop a drug for Ebola.

Founded by research scientists in 2012, Poochon Scientific is a protein analysis company with expertise in the fields of protein biochemistry, molecular and cellular biology, mass spectrometry, and bioinformatics, and are capable of combining these fields together to maximize the power of mass spectrometry (MS)-based quantitative proteomics technologies.

About the Frederick Innovative Technology Center, Inc
FITCI is a non‐profit organization created for local entrepreneurs seeking offices, laboratory facilities, and business support services. FITCI’s main goal is to foster entrepreneurship in Frederick County and accelerate the development of commercially viable businesses generating continued job growth.

FITCI’s all-inclusive office space offers the entrepreneur a fully equipped office in conjunction with a complete array of administrative support services. Office spaces range in size from 100 - 220 square feet and currently, office spaces are 90% leased.  Wet lab spaces range from 225 – 525 square feet and are 100% leased at the time.

Since 2013, FITCI has assisted over 35 Frederick-based businesses that have generated:
  • 268 direct jobs
  • $16.6 million in annual payroll
  • 76,500 square feet of leased space in Frederick County
  • $27.6 million in annual revenues
  • Annual direct tax base (real estate and county income tax) contributing over $395,110 annually to Frederick County
  • Multi-million dollar downstream economic impact that includes indirect jobs, sales tax, rent, and local purchases from other businesses for supplies, materials, etc. totaling $74.7 million annually