BioEnterprise, a biotech business incubator, is being taken over by Cleveland Clinic, University Hospitals and Case Western Reserve University, cleveland.com reported April 10.
The university and the health systems, all based in Cleveland, originally formed the business incubator in 2000. Case Western will buy up the incubator’s real estate and work together with the health systems to assume operations.
BioEnterprise had claimed to help 350 companies during its existence.
In 2021, the incubator agreed to pay a settlement of $127,000 related to overbilling allegations.