In 2024, North Texas solidified its position as a burgeoning hub for life science, marked by remarkable growth, strategic initiatives, and new, innovative developments. Here is an overview of the notable events that shaped the region’s life science landscape:
Major Developments:
1. Texas Research Quarter Receives Approval from City Council
The Texas Research Quarter, a 215-acre life science real estate development in Plano, TX, marks a key milestone with the approval of a development agreement from Plano City Council. The agreement establishes a tax increment reinvestment zone (TIRZ) which incentivizes investment and redevelopment. The City approval is a pivotal step in a broader public-private partnership that would establish Plano as a major hub for life science. Source: PR Newswire
2. Verily moves HQ from California to Dallas
Verily, Alphabet’s health tech division, is relocating its headquarters to Dallas-Fort Worth. Originally based in California, Verily chose Dallas-Fort Worth after considering other locations like Boston and Raleigh-Durham, citing the area’s strong business environment and growth of the Life Science industry. Source: Dallas Innovates
3. Vesalio’s U.S. Launch from New North Texas Base
Vesalio, a medical device company, announced the U.S. launch of its non-surgical blood clot removal system from its new base in North Texas, underscoring the region’s growing appeal to innovative medical technology firms. Source: Dallas Innovates
4. BioNTX’s 2024 Rising Stars
BioNTX recognized eight innovative North Texas companies as the 2024 Rising Stars during the iC³ Life Science & Healthcare Innovation Summit, highlighting the region’s commitment to fostering groundbreaking advancements in life sciences. Source: Dallas Innovates
5. iC³ Life Science and Healthcare Innovation Summit
The annual iC³ Summit served as a dynamic platform for the North Texas bioscience and healthcare community, facilitating discussions on product development, funding, market strategies, and scaling, thereby promoting collaboration and innovation within the sector. Source: Biontx
