Beacon Capital’s incubator boosts New York City’s burgeoning biotech scene
Updated: May 15, 2020
Credit to Fierce Bio "Beacon Pharma will offer 50,000 square feet of office and lab space, which will help the city toward its goal of quadrupling its R&D space to 4 million square feet. (Melissa Mahon)
Beacon Capital unveiled a new biotech incubator scheme in New York City. Called Beacon Pharma, it will offer seed funding and office, lab and manufacturing space in a city aspiring become the next big biotech hub.
The incubator has $30 million to $50 million up for grabs, but won’t limit it to its handpicked startups—it will also be invested in other companies in the New York and New Jersey area. The investments will range from $30,000 to $1 million per startup. Beacon Pharma will also provide 50,000 square feet of office and lab space in New York and New Jersey, Beacon Capital said.
Beacon Pharma’s seed fund comes from Beacon Capital and its group of families as well as other, undisclosed strategic and life science investors. read more"