BUCKS COUNTY – April 22, 2022 – State Senator Steve Santarsiero (D-10) announced nearly $2 million in state funds he has secured from the Redevelopment Assistance Capital Program (RACP) for two investments in science and medical technology to improve lives and grow our regional economy.
The awards are as follows:
- Thrombolex, Inc.: $1,200,000
- Bucks County Biotechnology Center: $722,500
“I’d like to thank Governor Wolf for supporting my request to dedicate RACP funds for these key investments to improve science and health outcomes,” said Sen. Santarsiero. “These projects will help our region continue to grow as a leader in biotechnology and scientific research.”
Thrombolex, Inc., located in New Britain Borough, will use the $1,200,000 state investment to build out a warehouse facility to expand the manufacturing capabilities of the company. Founded in 2016, Thrombolex, Inc. is engaged in the design, development, manufacture, and distribution of endovascular catheters used in interventional procedures.
“When I talk time and again about the potential we have in Bucks County to create a biotechnology corridor, I am talking about companies like Thrombolex who are on the cutting edge of discovery and development with a medical device to help save the lives of individuals with blood clots,” said Sen. Santarsiero. “This investment will help grow and expand Thrombolex’s capacity, while creating jobs right here in New Britain Borough.”
“Receiving this generous grant from the Commonwealth will enable Thrombolex to expand manufacturing so as to meet the anticipated demand for our medical device, the Bashir Endovascular Catheter,” said Marvin Woodall, Thrombolex CEO. “This catheter platform creates a channel for immediate blood flow through a blood clot to allow for precise and targeted delivery of clot busting drugs (thrombolytics) directly to the clot. Pulmonary Embolism is the third leading cause of cardiac death. With this funding, we can now proceed with plans to meet the demand for our life saving devices. We are most appreciative of Senator Santarsiero’s support.”
The Pennsylvania Biotechnology Center (PABC) is a life sciences incubator in Buckingham Township dedicated to advancing biotechnology in Bucks County and the region by maximizing synergies between nonprofit scientists and their commercial colleagues and launching new ideas and discoveries. The $722,500 will be used to build multiuser labs and teaching facilities in a newly constructed building.
“The continued growth and development of the Pennsylvania Biotechnology Center is attracting new and established companies to our region, putting people to work and helping build Bucks County as a biotech corridor,” Sen. Santarsiero said of the funds for the Biotech Center.
Timothy M. Block, president and founder of the PABC, said. “Sen. Santarsiero has been a great advocate for the Center and this further vote of confidence in us is very extremely encouraging. This support will allow the PABC to further expand our state-of-the-art research facilities for entrepreneurs from our area, to keep generating lifesaving innovations and, of course, to create new jobs. It also will help us continue to teach young people about science, research and entrepreneurship. The PABC is a world-class research center and this kind of support will allow us to maintain the momentum we’ve built in recent years.”
RACP is a Commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects. RACP projects have a regional or multi-jurisdictional impact and generate substantial increases or maintain current levels of employment, tax revenues, or other measures of economic activity. RACP projects are state-funded projects that cannot obtain primary funding under other state programs.
To learn more about RACP projects and grants, visit the Pennsylvania Office of the Budget website.