Portal Innovations, a Chicago-based life sciences venture development firm, is partnering with The NJ Innovation Hub, a cornerstone of The Health & Life Science Exchange of New Jersey (HELIX NJ), to design and manage 30,000 square feet of innovation and lab incubation space in New Brunswick.
The New Jersey Innovation Hub will be located in H-1, the first of three buildings comprising the 1.6 million-square-foot Innovation District of HELIX NJ. HELIX NJ is being developed by the New Brunswick Development Corp. and supported by its Core Partners, New Jersey Economic Development Authority, Rutgers University, Hackensack Meridian Health, Robert Wood Johnson Barnabas Health, and Middlesex County.
Business advocacy group Choose New Jersey said the state has the highest concentration of scientists and engineers per square mile in the United States. New Jersey is home to eight of the top 10 global biopharmaceutical companies, eight of the top 10 R&D companies, and more than 5,600 life-sciences establishments. The state’s current 22 million square feet of lab space is set to increase by 27% by 2026.
Portal said its goal is to help turn New Jersey’s life sciences market into a leading force for biotech and medtech innovation by establishing programming and lab space for world-class researchers, biopharma experts, investors, and entrepreneurs in the area. Combining HELIX NJ with the Portal’s national network will help transform the region into a hotbed of scientific research and discovery, according to Portal.
In terms of logistics, Portal’s lab and operations team will design the incubator space to allow for researchers and entrepreneurs to access amenities including wet and dry lab space, life-sciences equipment, co-working areas, and private offices. Portal’s ecosystem team will help find startups to take space, while also putting on networking events and informational sessions for members.
HELIX NJ will be an integral district in New Brunswick, providing scientists and entrepreneurs, the ability to build and collaborate. Because of its proximity to research universities and large metropolitan areas like Washington, D.C.; Philadelphia; New York City; and Boston, the area already has a deep talent pool of researchers, and the innovation campus and incubator space will help be a catalyst for early-stage scientific innovation.
“The New Jersey Innovation Hub and The Helix Innovation District has always been about accelerating discovery and innovation to develop new therapies, medicines, medical devices, and diagnostic technologies that drive expansion of the New Jersey economy and have a global societal impact,” said Christopher Paladino, president of New Brunswick Development Corp. “Portal Innovations is the perfect partner to help create and curate an innovation ecosystem that fosters collaboration among entrepreneurs, start-ups, academic research and leading pharma and biotech companies.”
Nancy Tyrell, director of academic partnerships at Portal Innovations, told ROI-NJ that “New Jersey has a strong life-science market and provides access to amazing regional life-science talent, VC funding, and successful science startup companies. New Jersey’s location is strategic for Portal Innovations as we build our presence on the East Coast.”
Portal has East Coast locations in Boston and Providence, R.I. “Expanding to New Brunswick allows us to develop in New Jersey, New York City, and Philadelphia,” she said. “New Jersey offers access to highly talented, educated professionals with its proximity to top universities including Rutgers, Princeton and NJIT, along with research institutions like Hackensack Meridian Health.”
Portal will help support life sciences startups and entrepreneurs from research universities by providing them with access to fully equipped lab space, seed capital, and introductions to investors and pharma partners. Tyrell added that Portal is serving as the manager for the University of Chicago’s science incubator and Brown University’s science incubator in Ocean State Labs.
“Portal plays a critical role in early-stage innovation by partnering with world-class universities and medical systems to provide scientific founders and entrepreneurs with access to state-of-the-art lab space, strategic partners, talent, and capital,” said John Flavin, founder and CEO of Portal Innovations. “Our goal will always be the same – to act as a pipeline of growth for life sciences startups, enabling faster scientific breakthroughs for patients.”
