The University of Toronto (U of T) has found a new partner to operate the life sciences lab space that pharmaceutical giant Johnson & Johnson left behind last year.
Cambridge, Mass.-based BioLabs is adding the space, which sits inside MaRS Discovery District, to its global network of shared labs and co-working spaces—its first in Canada. U of T says the 40,000-square-foot space is Toronto’s largest shared lab incubator.
Johannes Fruehauf,
“BioLabs University of Toronto expects to become a magnet for world-class biotech companies.”
BioLabs
Johnson & Johnson opened the space nine years ago in partnership with MaRS and U of T to support up to 50 early-stage pharmaceutical, medical device, consumer, and digital health startups with lab space, programs, and potential investment partners through its JLabs incubator program.
Johnson & Johnson announced in August that it would pull support for the space by the end of 2025, leaving MaRS and U of T to seek a new partner. When reached for comment at the time, Johnson & Johnson spokesperson Angelique Navarro did not explain why the company was pulling out.
U of T said in a statement on Thursday that the launch of BioLabs University of Toronto, which is open to startups from the university’s talent pool, ensures that the more than 30 early-stage life science startups already relying on the lab’s equipment can continue their work, while expanding their access to BioLabs’ global networks of sponsors and investors.
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Leah Cowen, U of T’s VP of research and innovation, and strategic initiatives, said in a statement that the partnership preserves “a critical life sciences innovation asset by addressing an acute shortage of wet lab innovation space in the downtown core.”
BioLabs’ model provides startups with laboratory benches, shared equipment, and on-site support, reducing barriers to both discovery and commercialization, according to U of T. A fall 2023 report from commercial real estate group CBRE stated that only 0.6 percent of the 12.3 million square feet of lab space available in what it calls the Greater Toronto and Hamilton Area is vacant.
“BioLabs University of Toronto expects to become a magnet for world-class biotech companies,” BioLabs founder and CEO Johannes Fruehauf said in a statement. “This collaboration will have significant impact on the Toronto innovation ecosystem by stimulating job growth and continuing to support this vibrant community.”
BioLabs has 18 other locations across the United States, Europe, and Japan. The organization claims to have supported over 500 life science companies, which have collectively raised more than $5 billion in funding.
Feature image courtesy BioLabs.