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FOR IMMEDIATE RELEASE
CONTACTS:
Alan Fogg
Fairfax County Economic Development Authority
Director of Communications
afogg@fceda.org, 703-790-0600
Lisa Smith
ANGLE Technology LLC
Senior Executive
lss@angletechnology.com, 703-326-9185
FCEDA Selects ANGLE Technology LLC to Develop Area's First Bioinformatics Incubator
Springfield center to kick start new industry for northern Virginia
Fairfax County, Virginia, October 18, 2001 — The Fairfax County Economic Development Authority (FCEDA) has selected ANGLE Technology LLC to design and run northern Virginia's first incubator that targets a segment of the biotechnology industry. ANGLE is an international venture management company with U.S. headquarters in Herndon and with worldwide experience in developing and managing research parks and technology incubators.
The 8,500-square foot incubator plans to open in early 2002 near the Franconia-Springfield Metro Station and Northern Virginia Community College's medical education campus. It will accelerate the growth of start-up companies involved in bioinformatics, a field in which computer hardware and software is used to further the study of biotechnology issues such as the human genome and development of new drugs and other biotechnology products.
The center will be a catalyst for growth of the bioinformatics and biotechnology industry in Fairfax County and northern Virginia, create a new employment base for the Springfield community, and further diversify the Fairfax County economic base, said Gerald L. Gordon, president and CEO of the FCEDA.
"I see bioinformatics in the Fairfax County of 2010 to be the same economic force that telecommunications and the Internet have been for the last decade, and the Springfield incubator will be central to that vision," Gordon said. "ANGLE Technology is a leader in this type of program management and will be a tremendous asset to this effort."
ANGLE will design and operate the incubator, select companies for the center and design a work program for them. The incubator will cost about $1.5 million to run over three years.
"We are delighted to be working with Fairfax County," said Dr Gary P. Evans, CEO of ANGLE Technology. "Fairfax is uniquely positioned to exploit a range of inherent advantages, including the world-class information technology and telecommunications capabilities of its companies, which can provide a platform for the bioinformatics industry; proximity to federal agencies involved in biotechnology and life sciences, and higher-education resources. We believe that the incubator can serve as a focal point for the growth of bioinformatics in Fairfax County."
About ANGLE Technology LLC Established in 1994, ANGLE Technology (www.angletechnology.com) is a venture management and commercialization firm with strengths in biotechnology, information technology, environmental and materials sciences and telecommunications. ANGLE develops and manages research parks, accelerators and incubators; creates, manages and finances technology-based companies; and collaborates with companies, universities and government institutes to create companies based on protected intellectual property. ANGLE is based in Guildford, England, and has its U.S. headquarters in Fairfax County.
About the FCEDA The Fairfax County Economic Development Authority (www.FairfaxCountyEDA.org) promotes Fairfax County as a business and technology center. Domestic and international marketing staffs work with U.S. and foreign companies interested in establishing and expanding operations. A market research and real estate division help clients learn more about real estate and business opportunities. The FCEDA runs a capital attraction program to link entrepreneurs and start-up firms with financing sources. Another program assists small, minority- and women-owned businesses. The FCEDA has marketing offices in London, Frankfurt and Tokyo. It also established an incubator for information technology start-up firms.
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