H-1, the first phase of the Health & Life Science Exchange of New Jersey district in New Brunswick, is under construction at Albany and Spring streets and is slated for substantial completion by year-end. — Courtesy: New Brunswick Development Corp.
By Joshua Burd
The landmark Health & Life Science Exchange of New Jersey campus in New Brunswick has found a key partner for the project’s incubator space, announcing a pact with Portal Innovations to spearhead a facility for startups and entrepreneurs from nearby universities.
The operator, which invests in and supports early-stage life sciences companies, will design and manage 30,000 square feet of innovation and lab incubation space within the 12-story, 574,000-square-foot building that’s under construction at Albany and Spring streets. That will include providing access to wet and dry lab space, cutting-edge equipment, collaborative working areas and private offices, as well as crucial seed capital and introductions to investors and pharmaceutical partners.
Life sciences startups and entrepreneurs from research universities such as Rutgers, Princeton University and New Jersey Institute of Technology figure to be among the biggest beneficiaries.
“New Jersey is the state of innovation. From life sciences to generative AI, we are building the future right here in the Garden State,” Gov. Phil Murphy said in the announcement last week. “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. I look forward to witnessing the impacts of the research and discoveries that will take place in their incubator lab space.”
Developed over several years by New Brunswick Development Corp., or Devco, the HELIX will create a three-building, 1.6 million square-foot innovation district directly across from the New Brunswick train station. The initial phase now rising downtown will include the New Jersey Innovation Hub alongside new homes for both Rutgers Robert Wood Johnson Medical School and Rutgers’ elite translational research center.
Portal Innovations, for its part, will also provide programming to ignite the ecosystem and deliver support to the entrepreneurs and companies working at the HELIX by connecting them to its global network of investors and innovators to advance breakthrough discoveries toward commercialization, according to a news release.
“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 expansion of the New Jersey economy and have a global societal impact,” said Christopher Paladino, Devco’s president. “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. We are excited to get to work.”
Officials noted that, to date, Portal has helped more than 90 innovative startups grow by delivering crafted capital that includes seed funding, specialized equipment, lab space and management expertise for high-potential, early-stage companies. At the innovation hub, it will work hand in hand with core partners including the state Economic Development Authority, Rutgers, Hackensack Meridian Health, RWJBarnabas Health and Middlesex County.
“The HELIX is a foundational piece of Governor Murphy’s economic plan to drive New Jersey’s economy forward and support new innovations that will have an impact for generations to come,” Economic Development Authority CEO Tim Sullivan said. “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.”
HELIX, which is transforming the site that long housed the Ferren Mall and parking deck, will also include a 360,000-square-foot lab and office tower built by SJP Properties that will become the new home of Nokia’s iconic Bell Labs division.
“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, CEO and founder of 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. We’re humbled to be working in New Jersey, a state that has successfully focused on innovation and drug discovery.”
