LabCentral Companies Raised $2 Billion and Started 30 New Clinical Trials
CAMBRIDGE, Mass., March 27, 2025 /PRNewswire/ -- LabCentral, the premier Massachusetts-based network of coworking labs designed to accelerate high-potential biotech startups, today announced the release of its 2024 Impact Report. It showcases the cumulative achievements of LabCentral resident companies who are advancing therapies across oncology, neurobiology, cardiovascular diseases, immunology, traumatic brain injuries and more.
In aggregate, LabCentral's resident and alumni companies' contributions to the Massachusetts economy are significant and include:
- $2 billion in new investment funds raised during 2024, bringing their total to $20.6 billion since LabCentral opened its doors in 2013;
- 839 new jobs created in Massachusetts, bringing the total to 7,178 since LabCentral started;
- 30 new clinical trials started in 2024; and
- 282 new patents granted.
The report outlines overall progress and spotlights the way LabCentral supports resident founders to advance their science, build their companies and support their people. It also illustrates LabCentral's role as the biotech industry's leading convener, bringing together a thriving community around key topics throughout the year, ranging from "The Dish Live featuring George Church" and the inaugural Mind Matters Scientific Symposium on neurodegenerative diseases to highly regarded art openings blurring the boundary between art and science.
"We are enormously proud of the work that both current LabCentral residents and alumni are doing, and their potential for real-world patient impact," said Johannes Fruehauf, MD, PhD, CEO and co-founder LabCentral. "With numerous clinical trials under way, including seven therapies in Phase 3 studies, our community is making real progress toward life-changing treatments; our 2024 Impact Report paints the picture of that relentless pursuit of new science and therapeutic solutions."
About LabCentral
A private, non-profit institution, LabCentral is a launchpad for high-potential life-sciences and biotech startups with 243,000 square feet of space across Kendall Square in Cambridge, Mass., and the Harvard University campus. Founded in 2013, LabCentral offers a full complement of programming and networking to life sciences entrepreneurs in addition to fully permitted laboratory and office space for early-stage and growing life sciences companies. In its first decade, LabCentral residents raised more than $18b in funding and created more than 6000 jobs. More information is available at www.labcentral.org.
SOURCE LabCentral
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