Wednesday, May 22, 2024

Yvonne Hao, Massachusetts’ secretary of economic development, speaks Thursday at the launch of Co.Lab in Cambridge’s Inman Square. (Photo: Office of Senator Sal DiDomenico)

Bayer, the German pharmaceutical and biotech giant, launched Cambridge’s latest life-sciences incubator on Thursday in its space in Cambridge’s Kendall Square. Called Co.Lab Cambridge, the 26,000-square-foot facility operated by LabCentral is meant to give cell and gene therapies entrepreneurs state-of-the art labs and Bayer’s corporate and scientific expertise.

“Bayer will not only provide Co.Lab Cambridge residents access to expertise and proximity to CGT and innovation pioneers, it may also offer the opportunity to utilize Bayer’s cell therapy manufacturing programs and offer access to expertise related to industry-leading technologies,” the company said.

Resident companies may choose to stay independent after their time in Co.Lab, Bayer said.

This is the first Co.Lab incubator, Bayer said. It plans to open more in Berlin, Japan and China.

Opening remarks were provided by Yvonne Hao, the state’s secretary of economic development. State Sen. Sal DiDomenico, present at the launch, said he was happy to see the incubator “coming to Cambridge and Bayer recognizing our community as the perfect place to harness cutting-edge research and entrepreneurship.”

It puts start-ups shoulder to shoulder with more than 50 of the world’s leading pharma companies, as well as Harvard and MIT affiliate research institutions and venture capital firms, DiDomenico said.

“This investment will advance cell and gene therapy discoveries, spur economic development, create more jobs for my district and will emphasize Cambridge’s importance as an international life science hub,” DiDomenico said.

This post took significant amounts of material from a press release.