When it announced several months ago that it was shutting its doors but not closing down completely, Cincinnati biotech incubator BioStart said the show would go on — albeit in a different way.
The show went on for a little while longer, but no more: BioStart will now cease all operations, according to a statement from the group.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
After closing its wet lab space, BioStart was hoping to continue to provide business development and support services — such as market research, business model assistance and team-building support — to biomedical startups in the Cincinnati area.
But BioStart CEO Carol Frankenstein said that other state-backed economic development groups, such as BioOhio and CincyTech, could provides those business services instead, according to the statement.
BioStart’s problems stemmed from the nature of its facility: 80 percent of the incubator’s space was devoted to wet labs. As more and more drug and device startups operate as virtual companies and outsource development work, that wet lab space simply wasn’t as valuable to young companies as it once was, Frankenstein told MedCity News last year.
Over the past 15 years, BioStart helped 130 companies launch their businesses and raise $180 million in grants, seed and other early stage investments, and industry partnerships, according to the organization.
