From left to right: Kelly Shultz – Secretary of Commerce, State of Maryland; Luis Rugeles – Co-founder & CEO, I-270 Innovation Labs; and Doug Bane – Co-founder & COO, I-270 Innovation Labs.
The biotechnology and pharmaceuticals industry continues to heat up in Frederick, with startups launching and raising significant funding, and larger companies expanding beyond hubs like Gaithersburg and Rockville. And these companies all need lab space to grow.
Co-founders Doug Bane and Luis Rugeles are aiming to fill that need with a newly renovated 22,000-square-foot building in Frederick, specially outfitted to serve that growing pool of biotechs. The space, called I-270 Innovation Labs, is stationed in the Westview Business Park at 5107 Pegasus Court and provides researcher-grade facilities for growing companies in need of affordable lab space. Bane and Rugeles said the concept for the space came from a group of local investors — including themselves, but the rest of whom they did not name — who recognized the need for additional biotech-focused real estate assets.
The space is designed to be flexible, to accommodate members that may need to rent space only temporarily or for longer periods.