UNC Chapel Hill plans to build a life science incubator by 2019 in a bid to convince more faculty spinouts to remain based at the university.

University of North Carolina (UNC) at Chapel Hill is to build a life science incubator to convince more faculty spinouts to base themselves locally by increasing available working space, the Hill WCHL reported yesterday.

UNC Chapel Hill is seeking a 10-year lease for the incubator at Carolina Square, a $120m mixed-use apartment block situated close to the university. It is expected to launch in 2019.

Building the incubator will help UNC Chapel Hill reach 33,000 square feet of lab space,…