Massachusetts Life Sciences Center awards $5m grant to support launch of LabCentral
The Massachusetts Life Sciences Center, a quasi-public agency of the Commonwealth of Massachusetts, said that it has awarded a $5 million capital grant to support the launch of LabCentral, a state-of-the art 27,000 square-foot facility that is scheduled to open in Cambridge in November.
A goal of LabCentral is to foster biotechnology startups by enabling them to rent small amounts of lab space. The lab will be located in Kendall Square, a hub of much life sciences activity.
LabCentral officials are projecting that the facility will create more than 500 new science jobs in startup companies operating at the site over the next 10 years.
Funding for the grant comes from the state’s 10-year, $1 billion Life Sciences Initiative. Governor Deval Patrick has made life sciences a priority of his administration’s.
“The LabCentral project will build on our state’s global leadership in the life sciences, grow jobs in the Commonwealth, and create new opportunities for early-stage companies,” Patrick said in a statement.Chris Reidy can be reached at email@example.com.