By Ann Marie DiSerafino
Business incubators to nurture fledgling companies can be traced back as far as 1959, with real growth in the concept emerging in the 1980s. When you take that successful business platform, and infuse it with scientific support and academia, the result moves the concept to the next level: a program designed to accelerate not just the company, but the science behind it.
Last summer when the Chemical Industry Institute of Toxicology (CIIT) evolved into The Hamner Institutes of Health Sciences, one the three integrated units formed was The Hamner Accelerator for Translational Bioscience. Its goal is to go beyond the classic start-up facility and create a campus for translational research, education and training.
Rick Williams, the Accelerator’s Chief Business Officer, explained that what makes the Accelerator program different is scientific collaboration. “We look for a synergy. We are bringing together companies that can work with The Hamner’s scientists and scientists from academia,” he said.
Conveniently situated near three large research universities, the Accelerator puts high priority on incorporating academic scientists into the program. Recently, the University of North Carolina at Chapel Hill announced an agreement with The Hamner to collaborate on basic, transitional research. Through this agreement, Accelerator start-ups will have the opportunity to work closely with UNC's schools of medicine, pharmacy and public health, and its Kenan-Flagler Business School, to develop new research leads.
In contrast, companies in the classic model of incubators share real estate but remain independent. These companies at most have some communication, but primarily utilize the same space, supplies and equipment.
At The Hamner’s Accelerator facility, in addition to working with scientists from The Hamner and academia, companies are encouraged to co-develop among themselves.
The Hamner’s resources also set it one step beyond other programs. Here on a 56-acre campus in Research Triangle Park, new businesses enjoy onsite, fully equipped and staffed research support units established within a “good laboratory practices” validation framework.
Business Expertise
While there is a strong focus on the science behind companies, that still goes hand-in-hand with business development. Williams said, “We provide business expertise – but more in a collaborative, consultative partnering role.”
As an example, the new agreement with UNC includes the university’s Kenan-Flagler Business School, which will provide business analysis and support. Williams explained that the Accelerator program opens doors for its new companies, enabling them to get assistance they would probably not have access to otherwise.
Unlike many other incubator models, the Accelerator is not tied to a venture capitalist. This means that while the eventual goal is to spin off companies, there is not a time pressure. Instead, they take the status of collaborative research into consideration.
The Hamner Institutes has equity in Accelerator companies, so they have a vested interest in their success. “These funds come back to The Hamner to support further research and development,” said Williams.
Companies Currently at the Accelerator
When a company approaches The Hamner about joining the Accelerator program, it goes through a screening process to see if it is a good fit. Two start-ups are now in the program.
BioMedomics, the Accelerator’s first company, joined the program in November 2007. It is a bioscience and medical device company that develops and sells advanced research and clinical reagents, assay instruments and data processing tools. The company’s commercial products and services meet the needs of a broad range of biomedical applications related to drug discovery and development, as well as clinical diagnostics.
B3bio joined the Accelerator program in March 2008. B3bio is a biotechnology company founded in 2007 with an expertise in RNA therapeutics. The goal of the company’s technology, licensed from Duke University and the University of Texas, is to develop an entirely new class of medicines using small RNA molecules to target individual cells and tissues with remarkable precision. If successful, it could be used to treat cancer, inflammation and infection, as well as improve upon current treatments by reducing unwanted side effects.
Plans to Grow
Currently the Accelerator has room for two more companies. The program is in the process of raising capital to build new space that can house more start-ups.
“Our goal is a connected, integrated environment for strong daily collaborations,” said Williams. “We will design to do that.”
According to Williams, the Accelerator’s role in scientific development is rare. He explained that it positions The Hamner Institutes as a science and business development catalyst – plus adds an academic side.
In this, The Hamner works closely with the NC Biotechnology Center, which he said shares the distinction of being a neutral fourth party – not academia, industry or government – acting as a means to bring companies together based on science.
“When we can increase the number of successful companies in the area and state, it leads to more jobs and strengthens the economy,” said Williams.
