Listen to this article

The basics:

• Portal Innovations to manage 30,000 square feet of incubator space
• Incubator will support startups from Rutgers, Princeton, NJIT, and other regional research institutions
• Part of HELIX NJ’s H-1 building in New Brunswick Innovation Hub
• Portal will provide labs, capital and pharma investor access

The NJ Innovation Hub, a key component of HELIX NJ’s H-1, is partnering with Portal Innovations. The life sciences venture capital firm will design and manage innovation and lab incubation space at the upcoming New Brunswick base.

Chicago-based Portal will help support life sciences startups and entrepreneurs from area research universities, such as Rutgers and Princeton universities, and New Jersey Institute of Technology.

NJBIZ has reported extensively on the HELIX project. The development will establish a three-building, 1.6 million-square-foot Innovation District in New Brunswick. New Brunswick Development Corp. is developing the project. H-1, the first building, is slated for completion later this year.

Key features of the partnership include:

• Portal will design and manage 30,000 square feet of incubation space. The area will provide access to fully equipped lab space and seed capital. It will also facilitate introductions to investors and pharma partners
• Incubator space designed to allow researchers and entrepreneurs to access amenities such as
  • wet and dry lab space,
  • life sciences equipment,
  • coworking areas
  • private offices
• Portal’s ecosystem team will help find groundbreaking startups to take space. Meanwhile, it will also put on networking events and informational sessions

“Portal plays a critical role in early-stage innovation by partnering with world-class universities and medical systems to provide scientific founders and entrepreneurs with access to state-of-the-art lab space, strategic partners, talent, and capital,” said John Flavin, founder and CEO, Portal Innovations. “Our goal will always be the same – to act as a pipeline of growth for life sciences startups, enabling faster scientific breakthroughs for patients.”

DEVCO President Christopher Paladino said that the New Jersey Innovation Hub and the Helix Innovation District has always been about accelerating discovery and innovation to develop new therapies, medicines, medical devices and diagnostic technologies that drive the expansion of New Jersey’s economic — and have a societal impact.

“Portal Innovations is the perfect partner to help create and curate an innovation ecosystem that fosters collaboration among entrepreneurs, startups, academic research, and leading pharma and biotech companies,” said Paladino. “We are excited to get to work.”

Continuing a Jersey legacy

NJEDA Chief Executive Officer Tim Sullivan described the HELIX as a foundational piece of the governor’s economic plan for New Jersey.

“New Jersey has long been a national leader in the life sciences and innovation industries – and with Portal as a partner in this endeavor, we will help emerging companies bring cutting-edge technologies and inventions to the marketplace and create new jobs and long-term-economic growth,” said Sullivan.

Gov. Phil Murphy said, “The HELIX NJ is a hub for innovation and research, and the perfect place for Portal Innovations to place roots as they look to further their presence here in New Jersey.”

“We’re humbled to be working in New Jersey, a state that has successfully focused on innovation and drug discovery,” said Flavin.

The governor added, “I look forward to witnessing the impacts of the research and discoveries that will take place in their incubator lab space.”