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Luna Innovations continues to grow |
Luna Innovations continues to grow
Wednesday, June 08, 2005 By Andrew Kantor Founded in 1990 as Fiber & Sensor Technologies, Luna Innovations is now the parent of several companies throughout Virginia. Until its move to the planned Riverside Centre for Research and Technology in Roanoke is complete, the company's headquarters is in Blacksburg, with branch offices in Charlottesville, Danville and Hampton Roads. When its four-story building is complete, Luna Innovations will be the first tenant at Riverside Corporate Centre, the first phase of a research park to be built at Reserve Avenue and Jefferson Street in Southwest Roanoke. The company expects to have about 50 people working in the new Roanoke offices by 2006, although spokeswoman Karin Clark said it wasn't clear how many of them would come from the Blacksburg facility (which employs 130 people) and how many would be new hires. "We will retain a strong research group in Blacksburg," she said, although Luna's administrative offices will move. Since its inception, Luna has spun off six companies, two of which have since been sold. • Luna Technologies, started in late 2000 and based at Virginia Tech's Corporate Research Center, manufactures equipment for measuring and testing optical devices. The work is based on research done at the National Aeronautics and Space Administration by the company's chief technical officer, Mark Froggatt. • Luna Analytics, formed in April 2001 in Blacksburg develops systems "to detect and measure proteins and their interactions." This kind of research, called proteomics, is done by medical researchers and drug designers to try to develop treatments for a variety of diseases. The company is also looking to apply the technology for environmental studies - for example, to detect pathogens in food. It may also be useful for homeland security by detecting the presence of biological agents. • Luna's nanoWorks division, begun in March 2004 and located in Danville, Va., manufactures nanomaterials - microscopic spheres of carbon. Those spheres are used as "cages" to contain other elements, which have a variety of uses, from communications to cancer treatment. • Charlottesville-based Luna Quest, the company's most recent spinoff, is developing drugs, diagnostic tools and other ways to detect and treat a variety of cancers. The company uses what it calls "targeted therapies" that work on the molecular level to control certain functions in cancerous cells. Researchers hope the therapies will lead to new treatments with fewer side effects. In addition to the four current divisions, two others - Luna Energy and Luna iMonitoring - were acquired by other companies. Houston-based Baker Hughes, which develops technology to find and extract oil, purchased Luna Energy earlier this year. And IHS Energy, an Englewood, Colo.-based consulting company for the oil and gas industry, acquired iMonitoring in October 2003; it maintains its offices in Roanoke. Additional tenants slated to occupy the first building in the Riverside Corporate Centre are: • American Biosystems Inc.: An established Roanoke company that markets enzyme-based products for industrial, agricultural and medical applications. • Medical Enzymatics LLC: This 2-month-old Roanoke company is developing an enzyme-based presoak for sterilizing medical equipment. • Carilion Biomedical Institute: A partnership between Carilion Health System, Virginia Tech and the University of Virginia to create jobs and economic growth in Western Virginia through the commercialization of health care products and services and other support given to medically oriented businesses. |