LEXINGTON, Ky. (April 19, 2013) — Biotech got a new home downtown today with the official opening of the headquarters of Transposagen Biopharmaceuticals Inc. in West Jefferson Place, Second Street.
“Transposagen is here with its cutting-edge research, technologies to improve drug discovery, its molecular biology laboratories and its high tech jobs,” Mayor Jim Gray said.
Dr. Eric Ostertag, founder and chief executive officer of Transposagen, said the company likes downtown because it is surrounded by college campuses and offers a high quality of life for employees.
“Transposagen’s new state-of-the-art laboratory in downtown Lexington will accommodate our rapidly increasing number of employees with room to expand,” Ostertag said. “The laboratory is located in Lexington’s trendy Jefferson Corridor, which is ideally located near Transylvania University, the new Bluegrass Community and Technical College campus and the University of Kentucky.”
Transposagen’s office encompasses about 5,000 s.f. The company, which employs 15 people, has doubled its work force twice since first moving to Lexington four years ago from Philadelphia.
Ostertag said he was attracted to Lexington by its central location, low cost of doing business, high quality of life and investments from angel investors.
Lexington has worked hard to create the environment to attract entrepreneurs such as Ostertag, the mayor said.
“Our top priority is to grow or attract new jobs,” Gray said. “We do that by making Lexington a place business wants to be. When a firm like Transposagen locates here we know we’re on the right track.”
“It’s always great to see one of our existing companies growing right here in our own backyard,” said Bob Quick, president and CEO of Commerce Lexington Inc. “It’s our job as an organization and as a community to create an environment that enables businesses to succeed. Transposagen’s new lab space in downtown Lexington is not only a testament to hard work, but also an affirmation that the partners of the Bluegrass Business Development Partnership are focused on strengthening our entrepreneurial community. We are very proud of Transposagen’s growth, and we’re glad they have chosen Lexington as their home.”
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