CvilleBioHub to launch biotech accelerator as part of regional collaboration

One of Albemarle County’s target industries for future growth is the biotechnology sector and a nonprofit called CvilleBioHub has been nurturing efforts to create more jobs and attract more businesses.

Now the agency has announced the receipt of $4.3 million from an organization called GO Virginia to work with the University of Virginia to create a laboratory accelerator at the North Fork Discovery Park.

“GO Virginia’s investment in CvilleBioHub will enable a significant expansion of the biotech industry in the Charlottesville region,” said Nikki Hastings, CvilleBioHub’s executive director in a press release sent out Tuesday. “We are so excited to initiate and lead this project following years of strengthening the regional ecosystem.”

The grant is supported with a $300,000 match from the Albemarle Economic Development Authority. UVA is providing 6,500 square feet of space at North Fork for a three-year rent of $750,000. An additional $100,000 comes from the UVA Innovates initiative and the City of Charlottesville contributed $75,000.

“The total project funding exceeds $7.5 million with additional support from private donors and local economic development entities in Albemarle County and the City of Charlottesville,” states another section of the announcement.

The accelerator will also complement the Manning Institute of Biotechnology which is under construction at UVA’s Fontaine Research Park. Paul Manning called the additional space a “pivotal development” in the industry.

“This initiative will create a dynamic environment for life sciences companies to thrive, accelerating innovation and commercialization,” Manning said in the release.

The award to CvilleBioHub is one of three made across the state as part of Project VITAL with VITAL standing for Virginia Innovations and Technology Advancements in Life Sciences.

Before you go: This article was originally sent out as part of the Charlottesville Community Engagement newsletter in the January 15, 2025 edition. Both are functions of Town Crier Productions. You can support the work by purchasing a paid subscription or contributing monthly through Patreon. You can also send in a check or send an email, but drop me a line first.