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LabShares Newton, a Faber sponsored biotech lab incubator, recently announced Savran Technologies as the winner of the first Launch@LabShares competition. “We are thrilled to be able to welcome Savran Technologies as a member of the LabShares community,” said Jeff Behrens, co-founder and CEO of LabShares Newton. “As our tenth member and first winner of our Launch@LabShares award, Savran was selected based on their exciting microfluidic technology, which focuses on whole cell isolation for both prenatal and oncology diagnostics.” Other finalists included Excelsior Genomics, an early stage biotech company focused on gene editing.
Savran will receive a $50K year-long membership to LabShares, which includes access to a state-of-the-art, professionally maintained office and laboratory incubator, along with a variety of support services and amenities, including scientific and operational support. The Massachusetts-based biotech company has a mission to revolutionize non-invasive diagnostics via isolation of ultra-rare cells. The company is developing applications for use in prenatal and oncology testing.
“We are honored to be selected as the first Launch@LabShares winner and want to thank LabShares for this meaningful award as we grow the company,” said Kathryn Roy, CEO of Savran Technologies. “LabShares’ support is extremely valuable to us as we develop non-invasive diagnostics to transform oncology and prenatal testing.”
Faber Daeufer & Itrato co-sponsored this initial Launch@LabShares award. Firm Principals Kurt Machemer and Mark Cooper participated in a five-person panel to judge the three finalists. They reviewed written business plans and helped interview some of the finalists. According to Machemer, the factors considered in determining a winner included the composition and experience of the management team, potential commercial opportunities, and the likelihood of the candidate to receive third party funding.
“Savran is a promising technology spun out of the Purdue University focused on isolating rare cells in blood samples for prenatal diagnosis and cancer monitoring,” Machemer said. “They have an experienced CEO at the helm who has previous experience working with and investing in early stage companies.”
LabShares also announced a second Launch@LabShares competition, offered in collaboration with the Massachusetts Technology Transfer Center’s 12th annual Massachusetts Life Sciences Innovation (MALSI) Day and the MassBio MassCONNECT Program. A second life science startup will be selected for a one-year membership also valued at $50K, with the winner announced at the MALSI conference in June. The competition is open to biotechnology startups that are less than three years old, have raised less than $2M, have fewer than five employees, are headquartered in Massachusetts, and have a minimum of $250K in money raised or grants won. To apply for the new LabShares competition opportunity, visit www.labshares.com/apply-for-lab-space.
LabShares Newton is an office and laboratory incubator for emerging biotechnology and life science start-ups. The shared space provides a collaborative, affordable and entrepreneurial research environment for early-stage companies in a convenient location close to Cambridge and Boston.
Another useful resource offered to LabShares tenants is a monthly lunchtime speaker series, featuring successful biotech executives, scientific thought leaders, and professional advisors. Lawyers from Faber will be featured at the November 2019 LabShares event to discuss start-up stage financing and deal making.