BioLabs LA at The Lundquist Institute, a co-working and incubator facility for high-potential bioscience start-ups, has reached 100% capacity ahead of schedule. This critical milestone demonstrates the strong demand for entrepreneurial startup opportunities in the bioscience sphere in Los Angeles.
There are so many to thank for reaching this milestone. Without the generosity of LA County's Second Supervisorial District, under the leadership Mark Ridley-Thomas, and Melanie and Richard Lundquist, coupled with the organizational talents of Lundquist's Sr. VP Keith Hoffman, PhD, we would not be here to celebrate this outstanding achievement. The rapidity of this success is a true indicator of the desire by top companies to establish themselves in the L.A. area."
David Meyer, PhD, President and CEO, Lundquist Institute
BioLabs LA at The Lundquist Institute now houses 30 start-up bioscience companies. With over $2MM in shared equipment in 18,000 sq ft of lab and office spaces, including unique private labs, BioLabs LA allows startups to conduct their science on day one. Extending the value of their investment, entrepreneurs are able to focus on milestones without the hassle of navigating waste management, vendor and purchasing account setup, and the procurement of basic supplies and equipment. Being part of an instant community of peers through fellow members and researchers on the campus of The Lundquist Institute provides mentoring and collaborations that can support and excel a startup forward.
"With its state-of-the art bioscience incubator as one of our region's most dynamic new assets, the Lundquist Institute is poised to put Los Angeles in first position to recruit and retain the best investigators and provide world-class labs and workspaces for emerging companies to develop new treatments and therapeutics what will benefit countless generations to come," said L.A. City Councilmember Mark Ridley-Thomas, who was instrumental in garnering support for the incubator. "Reaching 100% capacity for the incubator ahead of schedule shows just how important this asset will be to the region and the industry, and I wish to extend my congratulations to the Lundquist Institute and Biolabs for this accomplishment."
"I'm delighted with the resounding success of our bioscience startup facility and the rapidity of this highly significant capacity milestone" said Keith B. Hoffman, PhD, Senior Advisor for Business Development and Technology Transfer at TLI.
"Two years ago, it took a sizeable leap of faith to implement this project, which makes this milestone even more gratifying," Hoffman added. "The startup members are leveraging millions of dollars in shared equipment and facilities, business mentoring from the Larta Institute, and services and contacts provided by BioLabs to swiftly and effectively develop solutions for extremely important medical needs such as multiple cancers, microbial infections, detection of diseases before the onset of symptoms, gene therapy, immune competency, macular degeneration, dermatitis, and bowel diseases. The synergies fueling these medical advances are a direct consequence of the moral and financial support provided by Councilman Mark Ridley-Thomas, the entire Los Angeles County Board of Supervisors, philanthropists Richard and Melanie Lundquist, the Economic Development Administration, Amgen, Larta, and Gilead. Their support has enabled TLI and BioLabs to develop the premier bioscience co-working space in Los Angeles. We are justifiably proud to be helping Los Angeles finalize its' transformation into one of the most desirable bioscience destinations in the world."
In another sign of the importance of accelerating bioscience start-ups, Amgen recently awarded BioLabs LA a three-year Golden Ticket sponsorship, which provides winners with one year of lab space plus facility benefits and connections to Amgen's worldwide network.
"Watching the site grow from zero to one hundred in just over two years has been an incredible journey," said Gary Olsem, Vice President of Operations and Client Experience for BioLabs. "While most of the companies are focusing on therapeutics or diagnostics, about 30% of our residents are exploring a wide range of solutions to improve life, health, and the planet. The diversity of the Los Angeles ecosystem is its major strength and seeing it in action at BioLabs LA day to day amplifies the reason we were drawn to the region: Great companies are born here. BioLabs is proud to be the operator of this impressive facility."
BioLabs LA at The Lundquist is housed in 18,000 square feet of space on the third floor of the Institute's new 80,000-square-foot Medical Research Laboratory, a premier scientific laboratory and biomedical center. The Institute is planning to build a new BioCenter business park on its campus which will offer space and facilities to a wide range of bioscience companies, including new startups and those graduating from incubator facilities.