The Biotechnology and Biomedical Technology Institute aims to be a resource for individuals and organizations interested in starting up new biotech or biomedical companies or further developing the industry locally.
The institute plans to provide information, educational opportunities and research and serve as a forum for discussion about the biotech sector.
"After years of planning this venture, we are pleased by the formalization of BBTI and are gratified by this show of confidence by the UW-Bothell administration and faculty," the institute's executive director, Michael Stiber, said in a written statement. "We anticipate a great partnership with our local government and area life sciences industries."
Stiber, a professor with a background in computer science, engineering and biology, was traveling this week and was not reached for further comment.
Even before it won formal approval, the Biotechnology and Biomedical Technology Institute partnered with the city of Bothell and local businesses to develop the Bothell Biomedical Manufacturing Corridor, which officially was designated as an Innovation Partnership Zone last fall by the Washington state Department of Community, Trade and Economic Development.
As a result of its designation, the Bothell corridor is eligible for state funding and other resources. The state also has named 10 other Innovation Partnership Zones, including another one in Snohomish County that's centered around the aerospace industry.
Once home to about a quarter of all life sciences companies across the state, south Snohomish County and especially Bothell still host the greatest concentration of such companies outside downtown Seattle. More than half of the publicly traded companies based in the county are either biotech firms or medical device makers.
Reporter Eric Fetters: 425-339-3453 or firstname.lastname@example.org.
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