LabCentral facility at MIT [Image courtesy of LabCentral]
LabCentral is a 501(c)3 nonprofit that serves as a springboard for life sciences and biotech startups. The model makes it easier for creative academics to transform an idea into a profitable business by addressing the initial need to invest in lab equipment and space.“Biotech startups have historically had to spend all of this money upfront,” said Dr. Johannes Fruehauf, co-founder and president of LabCentral. “And it is the most expensive money they will ever spend.”
Startups in the LabCentral network can accelerate the timeline to verify their scientific hypotheses without needing to own a lab. Once they have confirmed their research ideas, they can more easily attract venture funding. In fact, LabCentral companies has secured a quarter of all early-stage (seed and Series A) bio-pharma financing in 2021 in Massachusetts. I…