Biotech Big Bangs Its Way Into New York City Via Beacon Capital's Incubator
NEW YORK: Beacon Capital released the introduction of a unique NYC incubator initiative "Beacon Pharma." The Incubator will provide seed funding office, lab and manufacturing space for Life Science companies seeking JV and licensing partnerships to further develop their IP. Beacon Pharma will have 50,000 square feet of flex office and lab space in NY and NJ.The incubator/seed fund will place $30 million to $50 million into various startups selected by Beacon Pharma, as well as others in the New York and New Jersey area. According to Beacon Capital CEO, Nancy Torres Kaufman, Beacon is considering to launch similar initiatives in Virginia, Florida, and Mexico in the upcoming year. "Bringing the focus back is the reason why we decided to invest in biotech. Beacon Capital's goal is to be a catalyst in minimizing drug to market time, while helping biotech companies remain well funded," said Nancy Torres Kaufman.
The Beacon Pharma seed fund will be backed by Beacon Capital and its group of families as well as other unspecified strategic and life science investors. The size of investment per startup will be between $30,000 to $1 Million, structured mainly as convertible debt. Tenants at our facilities in NY and NJ will have access to seed funds; lab space, and manufacturing. We are currently reviewing applications for all companies interested in exploring our incubator structure. For more information please contact [email protected]
Our goal is to make it affordable for biotech startups of modest financial means. We hope to support the tri-state community of biotech microcap companies. We feel this is an area where we could truly make a difference. Our focus expands into novel and bioequivalent IP in oncology, neurodegenerative, and rare diseases therapeutics.