PEORIA, Ill. (WMBD) — The Peoria NEXT Innovation Center is an incubator for smaller start-up businesses.
Wednesday, the building welcomed Midwest Bioprocessing Center into two more wet labs, in addition to the one they currently are leasing.
The start-up company was created in 2019 and focuses on human health and nutrition.
Employees at the company offer rare sugars, natural ingredients, and custom bioprocess solutions. Through a $1.85 million grant, they were able to expand from one wet lab to three at Peoria NEXT.
In addition to Midwest Bioprocessing expanding to three wet labs, Veloxity Labs signed a brand new lease with the facility.
Veloxity Labs is a 100% employee-owned startup which will occupy two Peoria NEXT wet labs beginning in January.
Veloxity uses technology to speed up the continuum of drug development.
“There’s such a need right now for the services that we provide, and there’s a big hole right now, and we’re going to fill that very quickly,” said Shane Needham, President, and CEO of Veloxity Labs.
Needham signed the lease for the new wet labs Wednesday and plans to move in on Jan. 3, 2022.