San Jose, California-based InCube Labs plans to establish a branch of its operations in San Antonio.

In addition, InCube Labs plans to launch five lifescience companies in San Antonio over the next five years.

InCube Labs is a Silicon Valley-based lifesciences research laboratory focused on developing medical breakthroughs that dramatically improve patient outcomes.

New Jobs

The development will result in new biotech jobs. As part of the agreement, the City expects that InCube will create at least 50 jobs within the business incubator with salaries ranging from $50,000 to over $200,000.

Based on InCube’s track record, the City expects that over a ten-year period, InCube companies will create approximately 400 jobs and will collectively spend approximately $100 million.

InCube plans to launch its San Antonio Innovation Centre in 2010.

Texas Governor Rick Perry said, “We look forward to many advancements and breakthroughs from InCube’s new San Antonio Innovation Centre.”

The City, County, Texas Research & Technology Foundation (TRTF), the University of Texas San Antonio (UTSA), and the University of Texas Health Science Center at San Antonio (UTHSCSA) are partnering to invest $10 million over the next five years to help fund InCube operations and spur the creation of local lifescience companies offering high salary biotech and healthcare jobs. InCube also expects to partner with TRTF, UTSA and UTHSCSA to identify and facilitate local technology development opportunities, as well as mentor and foster potential entrepreneurs.

As a key partner in this project, the TRTF intends to lease a facility to house InCube Labs Innovation Centre near the Medical Center area.

Leadership

The organisation is led by CEO Mir Imran. He has founded more than 20 companies and holds more than 200 patents. Imran and his partners also manage a venture fund, InCube Ventures, which invests in lifescience companies.

InCube actively develops start-up companies, guiding them through scientific and technical development, clinical trials, and early-stage commercialisation.

Based on InCube’s record, the InCube Labs companies are expected to accelerate the region’s growth and stature in the lifesciences industry.

Imran mentioned that the State of Texas invests significantly in medical research, and InCube’s mission will be to help translate some of that research into commercially successful enterprises that result in new standards of care.

“With San Antonio’s research institutions, City officials and our partners in the business community, San Antonio has a solid foundation to become a preeminent center for lifesciences innovation and entrepreneurship,” Imran said.