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PHILADELPHIA-Having been granted an exclusive license from the University of Pennsylvania for a technology invented by researchers at the university’s Scheie Eye Institute, Acuity Pharmaceuticals moves into the Science Center Port Building in West Philadelphia. About 40,000 sf of the 140,000-sf Port Building is dedicated to “incubating” start-up companies in the biosciences.

Acuity will be the only occupant of 1,500 sf in the building and will also have access to “specially equipped, shared lab space and other technical capabilities,” David Noteware, COO of the Science Center, tells GlobeSt.com.

The Port building is owned by a partnership between the Science Center and a Baltimore-based private developer, according to Noteware. “There is no way to put a value on the lease by traditional real estate measures,” he said. “It combines a cash component with equity in the company that takes the space,” he explained. “The term typically runs for two years, expandable after that on a month to month basis.”

Calling the Acuity technology “innovative” with “the potential to help millions of people retain their sight,” Jill Felix, president and CEO of the Science Center, said: “This is what the Science Center is all about.” In addition to providing space and access to equipment, the center also provides “commercialization services,” she said, such as “business mentoring.”

Since 1963, the Science Center has helped to launch more than 350 new technology companies.

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