CHICAGO & BOSTON--(BUSINESS WIRE)--Portal Innovations, a leading life sciences venture development engine, announced today that it will be expanding its operations to South Boston in April, 2023. The Company, which specializes in early-stage life sciences venture creation and investments, will be launching its initial lab and office space in the Southline Boston building.
"We are excited to bring our unique business model to an emerging part of the Boston life science ecosystem," said John Flavin, Founder and CEO of Portal Innovations. “Boston is home to world-class universities, premier life sciences venture capital firms, and an unsurpassed pool of diverse talent. Portal is eager to support entrepreneurs and founders by providing its Crafted Capital model of seed capital investment, access to strategic lab space, and management expertise to de-risk these early-stage ventures.”
Portal’s initial space at Southline Boston will consist of 22,000 SF of high-end wet lab and office space to facilitate growth for companies fundraising between Seed to Series B rounds, and will expand its footprint to 58,000 SF in the first half of 2024. Portal is partnering with Boston-based Beacon Capital and ZoE Life Sciences in a joint venture to build out the space and invest in promising life sciences companies.
“Massachusetts is unmatched in its life sciences research and development, and we join in Portal’s excitement about the promise that Boston’s neighborhoods bring to growing the industry and supporting innovation,” said Jason Cordeiro, MassBio Chief Operating Officer. “Southline Boston and Portal’s new space will deliver more opportunities for emerging biotech entrepreneurs and startups to advance their patient-driven science, be successful in their business, and contribute to the larger ecosystem.”
The Southline project is located in the former Boston Globe building off of the JFK/UMass Red Line “T” stop, near I-93, providing members with a variety of transportation options across the city.
"Boston is the leading hub for biomedical innovation and we're thrilled to partner with Portal to support early-stage venture firms and their portfolio companies,” said Fred Seigel, CEO of Beacon Capital. “Offering a fully developed life sciences ecosystem in a single building will catalyze the next phase of Boston’s impact on life sciences."
The entire Southline project will encompass over 700,000 square feet, primarily dedicated to opening an attractive option for life sciences companies starting and scaling in the South Boston area. The project has a food hall, gym, roof deck, brewpub, and a number of other amenities with a campus vibe, seeking to attract world-class biosciences talent in the area.
Portal Innovations is a premier venture development engine with a presence in Chicago, Atlanta, and Boston, that bridges scientific ideation in life sciences through commercial proof of concept by delivering Crafted Capital, including seed funding, specialized equipment, lab space, and management expertise to high-potential early-stage companies.
Beacon Capital Partners (“Beacon”) is a leading private real estate investment firm, owning and operating office and life science properties. The firm has a 75-year legacy of successful real estate development, management, and transformation of workplaces. For more information, please visit www.beaconcapital.com.
