Biotech company selects Innovation Park for expansion

Penn State will welcome a new biotech company, BioMagnetic Solutions, to Innovation Park. BioMagnetic Solutions is a portfolio company of Gamma Biosciences, a global life sciences company serving the advanced therapy market. Their new subsidiary will locate at 310 Innovation Boulevard, where they will invest in a production facility that meets FDA regulations. The company recently signed a lease agreement with GLP Development, the exclusive developer of Innovation Park, under agreement with the Penn State Research Park Management Corporation.

The announcement follows BioMagnetic Solutions’ January 2021 acquisition by Gamma Biosciences. BioMagnetic Solutions is a next-generation cell selection and bioseparation technology company that develops advanced ferrofluid-based immunomagnetic cell selection systems. The late Dr. Paul Liberti and his son Ted Liberti founded the company in 2011 with assistance from Penn State’s incubation program, and have been cultivating cutting-edge ferrofluid technology that could revolutionize the diagnosis and treatment of cancer.

“BioMagnetic Solutions began operations in State College, and when we originally signed our investment deal, we knew that we would want to continue growing in Pennsylvania,” said Phil Vanek, chief technology officer at Gamma Biosciences. “When we connected with the Innovation Park and the Center of Excellence in Industrial Biotechnology teams at Penn State, we knew we had found the right partner to continue developing this game-changing technology while also contributing to this thriving ecosystem to support education and innovation.”

“BioMagnetic Solutions’ decision to continue its expansion in State College represents the tremendous potential for biotechnology emerging from among the university’s $1 billion research enterprise,” said Lora Weiss, senior vice president for research at Penn State. “The company’s business interests closely align with Penn State’s capabilities in research and in workforce and economic development and will facilitate robust collaboration between our faculty, staff, students, and the BioMagnetic Solutions team.”

The world-class facility will advance Penn State’s reputation as a destination for science and technology corporate partners. The selection of Innovation Park also underscores the University’s and the region’s depth in emerging Industry sectors, including materials, manufacturing, supply chain and bioprocessing. The company also plans to partner with the University for training and recruiting talent.

“We are inspired to carry forward the legacy of BioMagnetic Solutions to help manufacturers overcome the challenges in scale and security of supply that are hindering true progress,” Ted Liberti, chief business officer at BioMagnetic Solutions commented. “We have demonstrated that this technology is able to support process development and manufacturing efforts for new cell and gene-based medicines at scale, and the next step is working with developers to deliver security and reliability for their processes.”

“Following 10 years of incubation in our system, it’s great to have BioMagnetic Solutions continue their growth in a new location in the park,” said Innovation Park Director Dan Leri. “The decision illustrates the alignment of their business interests with Penn State’s capabilities to bolster commercial technology opportunities. Several potential workforce development and technical collaborations between faculty and the BioMagnetics Solutions’ team are already underway.”

The building at 310 Innovation Boulevard, also home to Morgan Advanced Materials and the Carbon Science Research Center of Excellence, was developed in 2017 and is designed to be a flexible-use building for research, labs, light assembly, and office activities. It was GLP Development’s fifth building in Innovation Park.

The site at Innovation Park is expected to be fully operational in mid-2022 with more than 13,000 square feet of purpose-built office, laboratory, and manufacturing space. The state-of-the-art facility will house up to 30 technical, operational and commercial personnel to support the launch of both research-use and clinical versions of the BioMagnetic Solutions Cell Separation platform. The product launch is expected in first quarter of 2022.