Spanish biotech company to locate U.S. operations in Virginia Beach
A Spanish biotech company, One Way Liver S.L. (OWL Metabolomics), plans to open its U.S. headquarters in the VABeachBio Accelerator in Virginia Beach as part of a strategic partnership with Sanyal Biotechnology.
In turn, Sanyal Biotechnology will open its European headquarters under the auspices of OWL at its location in Bilbao, Spain. The companies will share resources in their respective locations as they combine efforts serving their pharmaceutical clients.
The agreement was made at last week’s ILC/EASL Congress in Amsterdam in collaboration with Virginia Beach Economic Development.
OWL and Sanyal Biotechnology have worked closely together in the past on contract research.
Company officials say co-locating in Europe and Virginia Beach will allow both companies to better serve clients and expand their customer base.
Sanyal Biotechnology moved to the VABeachBio Accelerator last year, after securing an exclusive working relationship with Eastern Virginia Medical School.
The VABeachBio initiative, run by the Virginia Beach Department of Economic Development, is a business development program designed to grow the existing biomedical cluster in Virginia Beach.
The VABeachBio Accelerator, located on the Virginia Beach campus of Tidewater Community College, offers companies like Sanyal and OWL the chance to utilize office and lab space at a reduced rate, allowing them to focus on R&D and develop their businesses.