Applied Pharmaceutical Innovation (API) and Explore Edmonton have finalized an agreement that appoints API as the leaseholder and manager of the Biotechnology Business Development Centre (BBDC) in the Edmonton Research Park.
The BBDC is a 72,000 sq. ft. building that offers life science companies in the Edmonton region space to incubate and grow their business in a space that understands their needs. These can range from specialized lab spaces with their own heat, water and air systems, to flexible lease arrangements, to shared access to equipment that is prohibitively expensive for one company to acquire.
“Managing this building is a great fit with API’s mission of helping life sciences innovators commercialize their ideas,” said Andrew MacIsaac, CEO of API. “The process of developing a new drug or medical product to market is highly regulated, which means it can take a great deal of time and investment before companies see a profit. Facilities that offer flexibility and support, like the BBDC, are crucial in helping local ideas succeed.”
“We are incredibly pleased that an organization like Applied Pharmaceutical Innovation has taken over the management of the BBDC facility. A true homegrown success story that will transform how the building is utilized, furthering bio-tech innovation in our city, said Traci Bednard, CEO of Explore Edmonton. “We look forward to working with them and other partners to support growth in the biotech sector.”
Owned by the Government of Alberta, the building was managed by Edmonton Economic Development and Explore Edmonton before API assumed the lease and management of the building in January 2023.
API is assessing the building and gathering information to understand current and future needs of current and future tenants. Life sciences companies interested in space at the BBDC are encouraged to contact API.