Big news for bioscience startups in need of lab space: Delaware Innovation Space is expanding.
The space, formed from a public-private partnership between the State of Delaware, DuPont and the University of Delaware in 2017, will add another 50,000 square feet of Class A laboratory and office space available starting in April 2022.
It adds to an existing 100,000 square feet of multi-use lab space at DuPont’s Experimental Station campus in Wilmington. The forthcoming space is currently occupied by a large biotechnology client that will graduate from the space in early 2022, according to a press statement.
“We are very pleased to be able to intensify our commitment to the growth of science-based startup companies and drive economic growth,” said Bill Provine, CEO of the Innovation Space. “This space would be a perfect fit for biotech or chemistry-based companies and can support multiple smaller growth companies or be a great home for a rapidly scaling larger company.”
Some of the startups that have labs at the Innovation Space include Versogen, Carbon Reform and Prelude Therapeutics, which raised $60 million in VC funding in Q2 2019.
“The Innovation Space has been a critical partner for Prelude Therapeutics in support of our rapid growth,” said Kris Vaddi, CEO of Prelude Therapeutics. “We continue to gain value from their entrepreneur-first business focus and flexible engagement strategies which have provided us with the framework to expand our company with them from five employees in 2017 to over 100 employees today.”
In addition to lab space, the Innovation Space offers funding and business support for the companies based there. That includes its First Fund investment program, four-month Science Inc. accelerator and Spark Factory mentoring program.