Xconomy New York — (Updated, 1:12 pm ET, see below) It’s no secret that one of the biggest things holding New York City’s biotech ecosystem back is lack of lab space for startups. The problem will take a broad effort to solve, not just a few buildings or incubators. But one of the city’s biggest real estate players, Alexandria Real Estate Equities, has announced a plan today to help out.
(Updated w/ comments from Joel Marcus) Alexandria (NYSE: ARE) disclosed two new New York City initiatives: what’s being called “Alexandria LaunchLabs at the Alexandria Center for Life Science—New York City,” and an associated seed fund. LaunchLabs will be a 15,000-square-foot lab and office space that will effectively serve as a startup incubator inside the Alexandria Center, a sprawling campus on Manhattan’s East Side.
