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Alexandria Real Estate Equities launches co-working for science guys

Alexandria Real Estate Equities, the owner and developer of the Alexandria Center for Life Science on the East Side of Manhattan, has just launched an incubator space for biotech start-ups.

JOEL MARCUS
JOEL MARCUS

The new life science laboratory and office platform, which will be called Alexandria Launchlabs, promises 15,000 s/f of space that provides “the necessary resources and collaborative environment to start transforming novel ideas into innovative, early-stage companies that develop products to improve human health.”

“New York City is rapidly emerging as a dynamic ecosystem for life science,” said Joel Marcus, the chief executive officer and founder of Alexandria Real Estate Equities, Inc.

The Alexandria Center is setting aside 15,000 s/f for science start-ups
The Alexandria Center is setting aside 15,000 s/f for science start-ups

“We recognize the urgent need for affordable, scalable and turnkey startup laboratory/office space in New York City, and we innately understand the complex and diverse support services required to build a life science startup. Just as our collaborative Alexandria Center campus has driven innovation and value for early, growth-stage and mature biopharmaceutical companies – accelerating the development of treatments and cures for patients – Alexandria LaunchLabs represents another initiative to foster and support life science innovation among seed-stage companies in New York City.”

Aside from the start-up space, Alexandria is also looking to raise $10 million to $25 million through its venture capital division Alexandria Venture Investments.

The money from the effort will be rolled into a seed fund for supporting entrepreneurs and emerging life science companies. LaunchLab tenants will have priority access to the funds.
“The most palpable source of momentum across New York City’s life science cluster is from new entities spinning out of the city’s leading academic medical institutions,” said Jenna Foger, senior principal of science and technology of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments.
“As the quality of science and entrepreneurship is reaching new heights, it is our collective responsibility to solve the funding bottleneck that local seed-stage companies currently face in order to catalyze innovation and strengthen this important segment of the New York City community.”
Prospective tenants for the incubator space will be required to undergo a vetting process. According to Alexandria, they will take into account the management team, intellectual property portfolio and the financial plan of before accepting tenants. LaunchLabs is expected to open in the summer of 2017.

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