One of the main tenants at downtown’s VA Biotechnology Research Park is expanding its operations.

Activation Capital announced plans to expand its Virginia Bio+Tech Center on E. Leigh Street to include 13 new wet labs, a clean room and upgraded coworking space. 

The Bio+Tech Center was completed in the fall of 1995 and is currently roughly 25,000 square feet. The expansion and upgrades will cover 10,535 square feet, and are expected to be completed by mid-2027. 

According to Michael Steele, Activation Capital’s President and CEO, the company acts as a “life science innovation hub” for the greater Richmond area, including commercializing technologies coming from universities, entrepreneurs, and “soft landing opportunities” for companies looking to set up U.S. headquarters. 

Part of the way they support these efforts is providing workspaces, including co-working space, private offices, and wet labs. Upgrades will include private phone booths, updated conference room technology, modernized furnishings and “seven dedicated office pods for incubator companies,” according to a press release. Steele said the center will remain open during construction.

While there are no companies currently signed on to occupy the future square footage, Steele noted that part of the motivation for the expansion was repeatedly encountering “backlog situations.” 

He added the additional space will help companies “preserve their cash runway” by having a pre-built work area to use, rather than having to spend the money on building their own work site.

The project will be funded by federal grants, Activation Capital itself, and rental income. Construction officially began on July 6 with prep and safety work, and build-out will commence once the current demolition finishes. 

Steele emphasized the importance of the Bio+Tech Center’s focus on increasing commercialization, calling the research aspect “a means to an end.”

“If you spend dollars on research, but it never gets commercialized and turned into products that save or extend people's lives, what's kind of the point, right?” Steele asked.

Contact Intern Haidyn Brockelman at hbrockelman@richmonder.org.