Invest in Our Economy October-December 2020 Invest in Our Economy October-December 2020 - Page 4




The former East Arlington Branch Library will soon have new life as home to Nanoscope Technologies , a company that develops novel devices and therapies for biomedical applications .
The Arlington City Council approved a 10-year lease agreement with the company in October to use the former library building at 1624 New York Ave . for cGMP product manufacturing space and headquarters .
Nanoscope Technologies , founded in 2009 , focuses on developing groundbreaking science and technology that is designed to fulfill unmet needs in health and medicine . The research and development company , for example , is currently developing innovative biomedical technologies for diagnosis and therapy for patients with severe retinal / neurodegenerative diseases , according to its website .
“ The company is in pursuit of innovation and translation of its platform technologies for changing lives of millions suffering from devastating diseases ,” said Samarendra Mohanty , Nanoscope founder and president .
As part of its research , the company is partnering with local universities and industries and is seeking to expand and establish new partnerships in the North Texas region .
Mohanty said the company selected the 11,000-square-foot location because it was well-positioned in the Dallas-Fort Worth Metroplex and because of the untapped potential related to biomedical innovations .
“ Further , the city is welcoming and cost of living is low , while offering lots of entertainment ,” Mohanty said .
The Nanoscope Technologies headquarters , the first project in the City ’ s federally designated Opportunity Zone , is a welcome addition to east Arlington , Deputy City Manager Jim Parajon said . In addition to bringing new well-paying jobs and repurposing an older city facility , Nanoscope Technologies ’ investment could serve as a catalyst for other companies to relocate and invest in one of Arington ’ s most culturally diverse areas , Parajon said .