The largest biotechnology incubator of its kind in New York City has opened at 180 Varick Street in Hudson Square.
BioLabs @ NYULangone is designed to attract the nation’s most innovative companies working in early stage life sciences.
The co-working facility currently has 22 companies and is expected to house more than 40 early-stage biotechnology and life sciences companies, 160 scientists, business personnel and support staff, in 50,000 s/f of newly renovated and fully equipped laboratory and office space.
The BioLabs staff will provide educational programming and operational support, enabling startups to focus on science and innovation.
BioLabs @ NYULangone received $5 million from NYCEDC’s LifeSci NYC initiative, a $500 million commitment to establishing New York City as a global leader in life sciences R&D and innovation
NYU Langone Health, Empire State Development, Bristol Myers Squibb, and a number of other corporations also provided funding for the development of BioLabs @ NYULangone.
“Life Sciences is a fast growing-sector in New York and represents an opportunity to make ground-breaking discoveries and create good jobs for New Yorkers,” said NYCEDC President and CEO James Patchett.
“It’s why we’re thrilled to be a founding sponsor for BioLabs @ NYULangone, which will serve as an invaluable space for startups and companies to innovate, grow and thrive. .”
The opening builds upon a series of recent LifeSci NYC announcements including a new partnership with Deerfield Management to redevelop a 12-story building located at 345 Park Avenue South into a life sciences campus and an expansion of the Alexandria Center for Life Sciences North Tower on Manhattan’s East Side offering a 550,000 s/f facility to commercial laboratory and office space for growth-stage life science companies.
NYCEDC also approved a $10 million fund to help NYC companies expand in NYC and launched an internship program to train the next generation of life sciences talent.