LifeX Greenhouse (“LifeX”), the designated Life Sciences Greenhouse for Western Pennsylvania, is excited to announce the news from Governor Tom Wolf of a $14,758,859 award for the future funding of Life Science companies in the region.
LifeX Greenhouse, part of the LifeX Global entities, including LifeX Ventures, is accelerating the growth of Western Pennsylvania’s life sciences ecosystem by creating a supportive regional habitat to nurture locally developed life science startups while also attracting early-stage companies to the region. LifeX Global, an incubator established by the University of Pittsburgh, does this by delivering educational programming, commercialization expertise, and investment capital, as well as helping startups to develop strong partnerships with industry and the financial community.
“We are appreciative of this significant capital infusion which will allow us to continue to implement our business model to support startups from concept to commercialization,” said Gerald Vardzel, CEO and President of LifeX Global. “We have now successfully aligned LifeX to execute on its model as a capital growth company by de-risking time, resources, and investment as an extension of their organization.”
The LifeX Global entities work synergistically to increase the likelihood of success for portfolio companies. This team provides expert guidance throughout the commercialization process, enhancing the capabilities of startup leadership teams with individuals who are highly committed to strengthening each company’s business development strategy. Our ability to supplement training with capital, from pre-seed funding and beyond, provides vital early-stage investment.
“LifeX has transformed into the premier Life Sciences Hub in the region. The new investment capital will be instrumental in its continued growth and outreach within Western Pennsylvania,” said Evan Facher, Vice Chancellor of Innovation and Entrepreneurship and Associate Dean for Commercial Translation in the School of Medicine at the University of Pittsburgh. “We look forward to working with other partners in the region and beyond to make a meaningful impact on the success of these early-stage Life Science companies and accelerate the growth of the region’s life science sector. Thank you to Governor Wolf and Neil Weaver, the Acting Secretary of the Department of Community and Economic Development for making these funds available to support small businesses in Pennsylvania.”