Virginia announced $66.7 million in grants for three projects within the life sciences, biotech and pharmaceutical industries, nrvnews.com reported Feb. 15.
The three grant recipients:
- Charlottesville-based University of Virginia's Institute for Biotechnology will receive $36 million to accelerate drug discovery technologies. The grant is designed to attract 150 research scientists.
- The city of Roanoke will receive $15.7 million to create an incubator for new biotechnology companies across Southwestern Virginia.
- The Virginia Biotechnology Research Partnership Authority will receive $15 million to build a new life sciences building in Richmond.
"Life sciences are a critical sector for Virginia and a strategic target for growth in the Governor's 'Compete to Win' Agenda for Economic Development," Secretary of Commerce and Trade Caren Merrick said. "More than 150,000 Virginians are employed in the life sciences industry, and these new investments will spur additional growth and secure the Commonwealth's leadership position in these sectors."