The 500,000-square-foot space at the Brooklyn Army Terminal will use the funds to upgrade their technology labs and space for tenant companies.
IRX Therapeutics is one of four companies occupying the space, along with Avatar Medical, International AIDS Vaccine Initiative, and Modern Meadow. Joining the biotech companies in the building is a STEM-education program for pre-K students.
IRX COO Jeffrey Hwang said the company was approached about being the first company to move to BioBAT, a partnership between SUNY Downstate and the Economic Development Corporation (EDC)
“When I came here it was walls and a lot of pigeon poop,” he joked.
But now the company has a fully functioning lab where they can research new cancer treatments. Councilman Carlos Menchaca called it shining example of world-class innovation.
“The enterprises at BioBAT are doing the work that will change our lives, create jobs, and sustain New York’s economy,” he said.
Adams said the investment is aimed at preparing the next generation of Brooklyn residents for the economy of the future. The $1 million was part of a larger $6 million economic development investment by the borough president's office.
“Many of our young people here in Brooklyn are not prepared to fill some of the high-tech jobs,” Adams said.