A Medical Device Daily
Polymer Technology Group (PTG; Berkeley, California), a biomaterials company, reported the spin-off of a life sciences incubator, Emergence (also Berkley, California).
Emergence will have access to PTG’s staff and facilities for synthesis, characterization, processing, regulatory approval and manufacturing resources in the development of new devices, PTG said.
Initially, Emergence will conduct its business within PTG’s 53,000-square-feet facilities in the Temescal Business Park of Berkeley, California.
“The mission of Emergence is to identify cutting-edge technology around the globe and to enhance and apply these technologies to create life science companies,” said Robert Ward, president/CEO of PTG. “PTG will serve as a reservoir of human and technical resources for Emergence and these emerging companies. In short, PTG will begin to participate at the early stage in the evolution of these portfolio companies.”
“PTG has developed an entirely new generation of biomaterials and has thus been a catalyst in the advancement of some remarkable medical devices that are significantly benefiting mankind,” said George Pitarra, president of Emergence and PTG’s CFO. “PTG will lend this wealth of technical and human assets to Emergence and its spin-offs, as well as invest capital in these ventures along with carefully chosen outside investors.”
Emergence will initially focus on opportunities in tissue engineering, resorbable biomaterials and extracorporeal affinity therapies, according to PTG.