The U.S. Department of Commerce’s Economic Development Administration has awarded a $2 million grant as part of its "Build to Scale" program to Oakland-based LifeX, which will use the funds to further support life science startups in Pittsburgh.
LifeX said such funding will allow it to have a greater impact on the overall life science startup ecosystem on a local, national and global stage. The organization strives to support Pittsburgh-based life science startups via investment, coaching, mentorship and other means.
"We are extremely pleased to have our unique business model at LifeX recognized by the EDA to assist life science startups with support at varying stages of their commercialization process," Gerald J. Vardzel Jr., president & CEO LifeX, said in a statement. "LifeX’s continuum of expertise and funding from startup to later stage seed investment provides multiple entry points to work with the entire LifeX organization to ensure meaningful and measurable impact on their commercial success."
Pennsylvania Department of Community and Economic Development Secretary Rick Siger congratulated LifeX in a statement for receiving the award.
"LifeX’s collaborative model serves Pennsylvania’s innovators by encouraging sharing of resources and expertise through its accelerator and commercialization programs, as well as its capital funding across the board," Siger said.
The news for LifeX follows the development from a few weeks ago when it announced a move out of its now-former South Side office location on Sidney Street in favor of taking over most of the Avenu Revv: Oakland coworking space on the second floor of the building located at 218 Oakland Ave.
