While capital and funding environments for biotech companies are gradually showing signs of improvement, LabCentral's community is grateful to persevere, steadfastly advancing science and expanding knowledge frontiers in 2023. As we navigate these challenges, LabCentral and its affiliated companies boldly strategize ways to address investment needs and attract skilled personnel. We remain thankful for the opportunity to make impactful capital contributions within the demanding biotech landscape, driving innovation and progress forward. The below metrics and initiatives highlight our unwavering commitment to catalyzing positive change in biotechnology.
2023 ANNUAL IMPACT REPORT
Financials + Growth
2023 FINANCIALS
LabCentral Companies Raised $1.7BN in Funds
2023 Venture Impact
LabCentral companies raised $765M in early-stage funding.
16.27%
Of the total early-stage biopharma venture funding in the US
28.3%
Of the early-stage biopharma venture funding in Massachusetts
2023 Life-Science Industry Snapshot
447+
New life-science jobs created in Massachusetts
7
Mergers & acquisitions involving resident/alumni companies
2023 Patient Impact
16+
Clinical trials launched
3,589
Patients dosed/enrolled
30+
Patents granted
Bayer Co.Lab Opening
LabCentral, Inc. played a pivotal role in planning and developing Bayer AG's new life-science incubator, Co.Lab Cambridge. Situated in Kendall Square, it aims to empower cutting-edge cell and gene therapies (CGT) entrepreneurs with unparalleled expertise and top-notch facilities. The 26,000 square-foot facility operated by LabCentral, Inc. stands at the heart of Cambridge's strategic innovation ecosystem, offering direct access to leading pharma companies, research institutions, and venture capital offices. Leveraging its success and experience, Bayer chose LabCentral as its strategic partner to steer the build-out and operation of the Bayer Co.Lab. With LabCentral's involvement, Co.Lab residents will tap into Bayer's global expertise and network, driving scientific breakthroughs while preserving their independence amidst plans for global expansion.
"I am thrilled to see this new life-science incubator coming to Cambridge and Bayer recognizing our community as the perfect place to harness cutting edge research and entrepreneurship. This investment will expand business opportunities, spur economic development, create more jobs for my district, and will emphasize Cambridge’s importance as an international life-science hub."