Venture capital firm ShangPharma Innovation is growing its life science incubator on the West Coast as it looks to help early-stage biomedical work get off the ground with more lab space.
The firm, which also provides access to its resident preferred contract services vendor for biopharma known as ChemPartner, has a growing portfolio of biotechs it’s worked with, including Circle Pharma and Rodin Therapeutics, according to its site.
Now it wants to stretch out, specifically by 40% in the Bay Area, with an updated facility that adds extra lab infrastructure and conferencing space.
It says this new facility is located in the heart of the South San Francisco biotech corridor and aims to “provide science-driven entrepreneurs with affordable access to the resources they need to advance their discoveries through preclinical proof-of-concept.”
As part of its plan, ShangPharma will expand its incubator to 32,000 square feet, adding 9,000 square feet to accommodate a number of additional emerging companies.
RELATED: ShangPharma plots a $60M splash for biologics R&D in China
“ShangPharma is answering the call for more space and essential resources for healthcare innovators in the San Francisco Bay area,” says Walter H. Moos, Ph.D., CEO of ShangPharma Innovation, and former chairman and CEO of MitoKor.
“This region is brimming with potentially transformative ideas for new drugs, diagnostics and other healthcare discoveries. But without the right support, these ideas run the risk of dying on the vine.”
The VC helps out startups and collabs with academia, specifically zeroing on early work where other firms may be a little too risk-averse to fund.