Former Pfizer Building In Plymouth To Become Pharma Incubator
A former Pfizer Inc. laboratory in Plymouth Township will become the Michigan Life Science and Innovation Center under a plan announced Wednesday from the Michigan Economic Development Corp., Ann Arbor Spark and the Greater Wayne Economic Development Corp.
The aim of the center is to connect well-funded, experienced entrepreneurs with business accelerator organizations and start-up companies.
The proposed center is a 57,518-square-foot building that offers office space, laboratory facilities and vivarium areas. The MEDC, Ann Arbor Spark and the Greater Wayne group have contributed a combined $3.5 million to purchase the building from Pfizer.
The actual purchase would be made by a to-be-formed non-profit who would also operate the facility.
The building is located at 46701 Commerce Center Drive. It was acquired by Pfizer to house Esperion Therapeutics Inc. after Pfizer's 2003 purchase of Esperion. It was left vacant after Pfizer decided last year to stop all research efforts in the Ann Arbor area.
"The state of Michigan and its partners strongly support the development of our life sciences industry," said James Epolito, MEDC president and CEO. "The collaboration propelling the Life Science and Innovation Center will ensure its long-term success and present an exciting opportunity for life sciences businesses throughout southeast Michigan."
The center's plan calls for the funding of ongoing operational costs through a combination of public, private and foundation support.
Business acceleration services offered at the Life Science and Innovation Center will include peer-to-peer mentoring that will connect experienced entrepreneurs with start-up ventures. Several tenants have committed to occupying the Center with announcements to be made at a future date. Additional business acceleration services offered will include access to wet lab and research space, funding support and other critical services.
"The Life Science and Innovation Center fills a need for entrepreneurial support and incubator space in southeast Michigan," explained Roger Newton, founder, president and CEO of newly restarted Esperion Therapeutics, Inc. "It's exciting that this initiative will connect entrepreneurs and established business owners; entrepreneurial experience can benefit start-up companies throughout their formation and growth."
Ann Arbor Spark and Greater Wayne EDC have worked closely to bring together the resources needed to support the acquisition and ongoing operation of the Life Science and Innovation Center.
"The Life Science and Innovation Center represents the region's next step in diversifying our life sciences economy beyond Pfizer," said Michael A. Finney, Spark president. "Ann Arbor Spark and our partners in this effort are committed to attracting and retaining high-value knowledge workers and leading-edge life science companies."
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