LAFAYETTE — Ichor Therapeutics has purchased the former LaFayette Family Health Center at 2561 Route 11 to expand its operations with plans for additional hiring. Ichor (pronounced EYE-core) Therapeutics is a biotechnology company that develops therapeutic interventions for age-associated disease. The firm, located at 2521 Route 11 in LaFayette, on Aug. 2 announced it was […]
Get Instant Access to This Article
Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.
- Critical Central New York business news and analysis updated daily.
- Immediate access to all subscriber-only content on our website.
- Get a year's worth of the Print Edition of The Central New York Business Journal.
- Special Feature Publications such as the Book of Lists and Revitalize Greater Binghamton, Mohawk Valley, and Syracuse Magazines
Click here to purchase a paywall bypass link for this article.
LAFAYETTE — Ichor Therapeutics has purchased the former LaFayette Family Health Center at 2561 Route 11 to expand its operations with plans for additional hiring.
Ichor (pronounced EYE-core) Therapeutics is a biotechnology company that develops therapeutic interventions for age-associated disease.
The firm, located at 2521 Route 11 in LaFayette, on Aug. 2 announced it was getting the building for additional research and development (R&D) work. Ichor is purchasing the 5,400-square-foot building just north of its 8,400-square-foot office on Route 11, Kelsey Moody, CEO at Ichor Therapeutics, said at the announcement event outside the Ichor office that day.
The Syracuse Community Health Center (SCHC) closed the LaFayette Family Health Center on Aug. 1, 2017, according to an SCHC news release.
Ichor Therapeutics bought the building from LaFayette Commons III, LLC and expects “to have everything finalized within a few weeks,” Moody said in an email reply to an Aug. 7 CNYBJ inquiry.
Petersen Cor Associates, LLC of Van Buren will handle the construction work on the project. The renovations will support Ichor Therapeutics’ R&D efforts, including clean rooms, laboratory space, and some office space, Moody added.
“We’ve closed on a $2 million infrastructure investment that will allow us to grow our company to 13,000 square feet and put on an additional 14 full-time employees… Our goal with this is to be able to partner with higher [education] institutions and other early-stage companies to help them move promising technology from a discovery stage and into an actual product pipeline and get that to the clinic,” Moody said in his Aug. 2 event remarks.
Ichor has secured the funding for the expansion from its “founding investor who’s a self-made millionaire and entrepreneur in the United Kingdom,” Moody said.
Besides the planned expansion, the firm also heralded the formation of Grapeseed Bio, which it describes as a life-science “strategic fund and accelerator program.”
Ichor is also partnering with SUNY College of Environmental Science and Forestry (SUNY-ESF) in Syracuse to train graduate students in researching drugs that could combat age-related illnesses.
Ichor Therapeutics is “arguably the most successful” life science start-up in Central New York, having raised millions to support various translational research programs since its founding in 2013. “It continues to double in size annually,” according to a news release about Grapeseed Bio.
Grapeseed Bio
Ichor has created an investment fund called Grapeseed Bio, a seed fund that will support companies that have “very early, probably non-fundable, early-stage ideas,” said Moody. Besides his role as Ichor Therapeutics CEO, Moody is also a managing partner of Grapeseed Bio.
Ichor Therapeutics has earmarked $1 million in funding for the program, the firm said in its news release about the fund.
Through this program, life-science entrepreneurs receive up to $100,000 in seed funding, technical training, full access to Ichor’s research laboratory, and mentorship in exchange for equity.
“To kick start this program, we’ve actually done a $75,000 placement in a virtual biotech company out of Texas called Repair Biotechnologies, which is doing some excellent work in the treatment of atherosclorosis and also reversing age-associated loss of immune function,” said Moody.
Atherosclerosis is the build-up of fats, cholesterol, and other substances in and on the artery walls.
The Texas firm plans to move to LaFayette and work with Ichor and occupy its laboratory “to move their programs forward.” The firm plans to bring two or three full-time employees for its work with Ichor, according to Moody.
Ichor, SUNY-ESF partnership
The educational component of the partnership will occur at SUNY-ESF, where students will focus on biochemistry, chemistry, or bioprocess engineering, according to an ESF release. Their laboratory research will primarily happen at the Ichor facilities.
The scientific study of human aging has “exploded” in recent years, driven by a “growing understanding” of age-related disease and associated molecular pathways. The use of drugs for targeted purposes, such as selectively destroying toxic senescent (aging) cells, has been identified as a “method” for increasing mammalian lifespan. It’s resulted in a “demand for qualified,” post-graduate-level scientists to support “emerging pharmaceutical companies, such as Ichor Therapeutics,” ESF said.
“This initiative will allow graduate students to leverage their work experience at Ichor Therapeutics with the scientific expertise of the world-class faculty at ESF. This represents an ideal industrial-academic collaboration,” Chris Nomura, VP of research at ESF, said in the school’s news release.
