Memphis Bioworks™ Foundation Opens New Lab Space for Bioscience Entrepreneurs

MEMPHIS, Tennessee, April 11, 2007 – Memphis Bioworks Foundation has renovated one of two buildings transferred to the nonprofit by Baptist Memorial Health Care this year into laboratory space for entrepreneurial companies to lease.

Baptist transferred the two buildings to Memphis Bioworks, located at 955 and 959 Madison in February. Renovations on the first building at 959 Madison, which was previously used as a medical laboratory, were completed early in April.

“There is a great demand for laboratory facilities for entrepreneurs in Memphis,” said Dr. Steven J. Bares, executive director and president of Memphis Bioworks Foundation. “The building was 100 percent leased within only a few weeks of announcing that the space was going to be renovated for use as a bioscience lab.”

Bares added that the 2,200-square-foot lab will serve entrepreneurial companies in addition to the Memphis Bioworks-managed laboratory and office facilities located in the 20 S. Dudley building.

The first tenant at 959 Madison will be ED Labs, which will take over its space later this month. RxBio will move into the lab in approximately six months. Both companies are focused on the commercialization of technology discovered by researchers at the University of Tennessee Health Science Center.

“We truly appreciate Baptist’s generosity in transferring these buildings to our organization,” said Bares. “Part of our mission is to provide the support and infrastructure new companies need to succeed. Having affordable laboratory space that meets basic regulatory and safety needs allows these companies to test and manufacture new, life-saving treatments and products.

Bares said additional laboratory space also is planned as part of future construction of the UT-Baptist Research Park. When complete, the research park will consist of 1.2 million square feet of laboratory, research, education and business development space located on 10 acres in the heart of the Memphis Medical Center. Baptist’s made the initial donation of land for the research park to Memphis Bioworks in 2001.

About Baptist Memorial Health Care

One of the largest not-for-profit health care systems in the United States, Baptist comprises 14 hospitals; more than 2,900 affiliated physicians; home, hospice and psychiatric care throughout the West Tennessee and North Mississippi area; minor medical centers and clinics; a network of surgery, rehabilitation and other outpatient centers; and an education system highlighted by the Baptist College of Health Sciences. Baptist has more than 2,400 licensed beds systemwide, employees more than 12,000 people and has approximately 86,000 patient admissions annually. For more information about Baptist, please visit www.baptistonline.org or call 800-4-BAPTIST.

About the Memphis Bioworks Foundation

The Memphis Bioworks Foundation, a not-for-profit organization, was formed in early 2001 to establish the Memphis region as an internationally recognized center for biomedical technology through education, infrastructure, workforce development, research and commercialization. To accomplish its mission, Memphis Bioworks is focused on three primary initiatives – Build the Infrastructure, Grow the Workforce, and Drive Entrepreneurship. Visit www.memphisbioworks.org to learn more about the Memphis Bioworks Foundation.