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Committee Approves Yarmuth's $282,000 Request for MetaCyte Lab

 

Funding that will Help Create Louisville Laboratory for Development of Small Business Clears Legislative Hurdle


(Washington, DC) Congressman John Yarmuth (KY-3) announced today that the House Committee on Appropriations has approved his request for $282,000 for MetaCyte Business Labs to help launch health and science startup companies.

“This lab will help Louisville remain on the cutting edge of scientific advances and create good jobs for our community by supporting the backbone of our economy: our small business,” Congressman Yarmuth said.

The lab will help MetaCyte augment existing services for small businesses in Louisville that develop commercial technologies and emerging life science companies.  It will be equipped with resources to support discovery research, validation, and furthering of technologies in disciplines such as cell and molecular biology, biochemistry, biomedical, analytical, organic and inorganic chemistry. Small businesses will use the lab to conserve funding, dedicating most capital to technology development at these early stages.

“We are absolutely thrilled that Congressman Yarmuth was able to secure this funding, as it will provide an amazing boost for MetaCyte and our small life science businesses,” said Steve Gailar, MetaCyte President and CEO.

MetaCyte is a subsidiary of the Louisville Medical Center Development Corporation (LMCDC), which is a joint venture of Metro Louisville, the University of Louisville, Norton Healthcare, and Jewish Hospital and St. Mary's Healthcare.

The project was approved yesterday as part of the FY08 Financial Services Appropriations bill, which provides funding for the Small Business Administration.  The bill heads to the floor next week for consideration by the full House of Representatives.