CHICAGO — Chicago’s life sciences industry is about to get another much-needed shot in the arm. The University of Chicago signed a partnership agreement with CIC, a Massachusetts-based operator of shared workspaces and labs, to incubate dozens of faculty-led startup companies within the university’s leased space in Hyde Park Labs, a flagship science building under construction at the corner of 52nd Street and Harper Avenue.
Although life sciences researchers at the Chicago area’s many universities often develop new therapies and drugs, the region’s lack of lab space often forced many to take their discoveries, and the jobs eventually created, to research hubs in cities like Boston or San Diego, said CIC founder and CEO Tim Rowe. But the university’s new lab space, and the opportunity to share ideas with like-minded scientists, should help change that.
“Hopefully, when they see the tools are here, more of these startup companies will stay in Chicago and more will be formed here in the first place,” he said.
