Altitude Lab Relocates to Gateway’s BioHive Hub
25 Maio 2023 - 5:00PM
Altitude Lab announced today that its incubator program and
facility will leave Research Park to grow its operation in the
Gateway’s BioHive hub as part of Recursion’s recently expanded
headquarters. The health care incubator will join biotechs
Recursion and Perfect Day in the new location in June 2023.
Launched in 2020, Altitude Lab was founded to help build a
robust life sciences ecosystem in Salt Lake City by supporting
early-stage startups and historically underrepresented founders.
Altitude Lab, which is operated by The Recursion Foundation, has
incubated 17 startups to date. These rapidly growing companies have
successfully secured more than $92M in seed financing and, based on
available data, have earned more than 70% of all health care seed
financings in Utah.
“In our new facility, Altitude Lab continues to reduce barriers
to entrepreneurship and increase racial and gender representation
in health care innovation. Vestar has been a great partner to help
us get our new location up and running quickly. We are now rapidly
scaling our entrepreneurial resources, lab facility, and ability to
connect our community and investor network to accelerate Utah’s
health care economy,” said Chandana Haque, executive director of
Altitude Lab.
The new facility will provide over 15,000 square feet of
incubation space which includes shared and private labs, tissue
culture facilities, over $1M in molecular and cell biology tools,
and extensive site services to manage equipment and train resident
scientists. In an effort to build more scientific connection,
Recursion has extended use of its cafeteria to resident
startups.
“We launched Altitude Lab to help build a critical mass of
biotech and health care innovation in Utah,” said Chris Gibson,
Ph.D., Co-founder and CEO at Recursion. “Other leading geographies
across the country, like San Francisco and Kendall Square,
purposefully build spaces for scientists from many companies to
congregate. Recursion is proud to be able to host more scientists
in our own space to encourage this kind of collaboration and
exchange of ideas. It’s an early model for the kind of supportive
community we envision for Utah’s life science sector.”
Altitude Lab's new location at The Gateway’s BioHive Hub will
also provide easy access to public transportation and various
dining options to support social and networking events. In
addition, the new space design fosters creativity and closer
collaboration, focusing on providing a comfortable, modern, and
centrally accessible workspace for founders.
This year, Altitude Lab graduated five companies from its
program, including Teiko Bio, 3Helix, Nexeos Bio, Peel
Therapeutics, and Rebel Medicine. Peel Therapeutics and Rebel
Medicine plan to continue operating in private labs within
Altitude’s new facility.
“Incubating at Altitude Lab helped Peel to meet scientific
milestones, recruit board members, and build deeper relationships
in the scientific community. Now, the private lab offering fills a
much needed gap in Utah’s current real estate market. By offering
additional private space to graduating companies, Altitude is
enabling our biotech to scale its operation while minimizing build
out costs and construction delays. We are thrilled to continue our
growth alongside the Altitude community,” said Joshua Schiffman,
MD, cofounder and chief executive officer of Peel
Therapeutics.
Altitude Lab is currently accepting applications. For more
information about Altitude Lab visit altitudelab.org. To register
for the Fall Open House, click here.
About Altitude Lab
Altitude Lab is building a new, representative generation of
founders to seed the next cycle of health care innovation in Utah's
BioHive. Currently located in University of Utah Research Park,
Altitude Lab is an incubator focused on early stage life science
and health care companies. The initiative is part of a larger city
plan and collaborative vision from Recursion to foster
socially-responsible entrepreneurship, job creation, and economic
productivity. The Recursion Foundation, under which Altitude Lab
operates, is a 501(c)(3) nonprofit organization.
Learn more at altitudelab.org or connect on Twitter.
About Recursion
Recursion is a clinical stage TechBio company leading the space
by decoding biology to industrialize drug discovery. Enabling its
mission is the Recursion OS, a platform built across diverse
technologies that continuously expands one of the world’s largest
proprietary biological and chemical datasets. Recursion leverages
sophisticated machine-learning algorithms to distill from its
dataset a collection of trillions of searchable relationships
across biology and chemistry unconstrained by human bias. By
commanding massive experimental scale — up to millions of wet lab
experiments weekly — and massive computational scale — owning and
operating one of the most powerful supercomputers in the world,
Recursion is uniting technology, biology and chemistry to advance
the future of medicine.
Recursion is headquartered in Salt Lake City, where it is a
founding member of BioHive, the Utah life sciences industry
collective. Recursion also has offices in Toronto, Montreal and the
San Francisco Bay Area. Learn more at www.Recursion.com, or connect
on Twitter and LinkedIn.
Ryan Kelly
Recursion
Media@Recursion.com
Recursion Pharmaceuticals (NASDAQ:RXRX)
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