Gov. Deval Patrick will join other officials and life sciences leaders tonight for the groundbreaking of a new biotechnology hub in Cambridge aimed at helping to create the next generation of leading biotech companies in Massachusetts.
Funded in part through a $5 million Massachusetts Life Sciences Center capital grant, LabCentral is a private, not-for-profit institution that will provide fully equipped, shared lab space and services for up to 70 scientists from as many as 25 startups.
"Since the financial crisis in 2008 and 2009, the amount of capital available to biotech startups has diminished," said Johannes Fruehauf, the founder and executive director of LabCentral. "That is the real change that has happened on the ground and that creates the need for this kind of space. Investors are demanding more efficient use of capital."
A state-of-the-art, 27,000-square-foot facility in development in the heart of Kendall Square, LabCentral will provide expert facility and administrative support, and round-the-clock access to skilled laboratory personnel, as well as the other services and support that startups need to transition to a successful commercial-stage enterprise.
LabCentral is modeled after similar efforts, including the University of California at San Francisco's facility (QB3) and Cambridge BioLabs, which together have helped create more than 80 companies in the past six years.
LabCentral will begin accepting applications for tenancy on June 30 and will open in November.
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