Jeremy Lenz, vice president of BioBusiness Alliance of Minnesota, is joining the board of the bioscience incubator University Enterprise Laboratories Inc.
"UEL is in a great position," Lenz said in a statement released on Thursday by the BioBusiness Alliance of Minnesota. "They are implementing their mission by serving dozens of early stage companies...This is an exciting time to join the board- staying true to its mission and looking toward the next phase."
The University Enterprise Laboratories (UEL) currently has 125,000 square feet of space, and plans to add an additional 40,000 square feet. UEL gives "wet lab space to bioscience companies emerging from the University of Minnesota or elsewhere," BioBusiness Alliance of Minnesota said.
Lenz said UEL is "profitable and almost fully leased."
Last year, the Star Tribune reported UEL was struggling to find its identity amid a recession and a diluted relationship with the University of Minnesota. The paper reported that none of the 25 companies in bioscience incubator in June 2009 originated from the U's research, despite its $2 million contribution to the project and several university offices located there.
