2016 Impact Report

2016 IMPACT REPORT life-science companies are built.LabCentral isproud to have establishedthe our third year of growth, we canconclude confidently that LabCentral hastruly changedthe way Dear Friends, Gallery 1832. We lookforward to seeing you! social, community, andnetworking events, or come enjoy the work of thelocal artistsfeatured at incredible team at LabCentral. to lookthrough thisreport andjoin meinthankingour sponsors,residents, andmostof all,our our community andhelpmore entrepreneurs launchtheir startups.Pleasetake afew minutes more thantwice our current size. The additionof thesecond andthird floors will allow us to grow science. new partnerships- while developing lifesaving medicinesandcreating breakthroughs in medical over $300M inadditional financing,adding402new jobs to theeconomy, andbuildingdozens of their community. Our LabCentral companies continued their successful trajectories in2016,raising the Pagliuca Harvard Life Labonthecampusof Harvard BusinessSchool to offer thisnew model to life-science co-working facilities worldwide. We collaborated with Harvard University inopening

The results are inandthere’s nodoubt aboutit:2016 was another banner year for us.In If you have not visited recently, Iinvite you to signupfor apublictour, joinoneof our many This year, we will grow LabCentral substantially aspartof our on-campusexpansion to

Thank you, President and Executive Director Johannes Fruehauf, M.D., Ph.D. de-facto standard for $1.1 BILLION *On a scale of 1-10, 9.3 was the average score given by entrepreneurs who were asked whether they would recommend LabCentral to others THE LAST THREEYEARS RAISED BYOURCUTTING-EDGE COMPANIES OVER

SINCE 2014 NET PROMOTER SCORE* 9.3 PATENTS GRANTED 45 PATENTS FILED 261 JOBS CREATED 717 ALUMNI COMPANIES 28 COMPANIES SERVED 51

to approximately $1.1billion. million, bringingthegrand total of fundingraised since our openingin2014 LabCentral resident andalumnicompanies raised approximately $331 highlighting their positionasplayers inthenational biotech scene. In2016, continued to raise significant financing from leading venture capital firms, of which have beenacquired). Since moving out,our companies have resident companies, andtheproud By theendof our third full year of operation, LabCentral was hometo 25 A CLEARIMPACT

**Selfreported all on data investment fundraising and *Selfreported all on data investment activity fundraising and from of 86% any not include resident does data this - companies alumni & totals for companies successful with exits

$ Total (Millions) 0 100 200 300 400 500 600 700 800 900 1000 2016 U.S.. BIOTECH SERIESAFUNDING*

MA alma mater alma CA

of 28companies (two LabCentral $150.4 M MD Region NC NY NJ VENTURE CAPITAL SINCE2014 CLOSED INSERIESA MILLION $351 2016 FUNDINGRAISED* By LabCentral Residents and Alumni WA PA $12 M $88 M OTHER

$23 M

GRANT $43 M

PARTNERSHIP $253 M

VENTURE CAPITAL TECHNOLOGY SOURCES OF COMPANY laboratories or licensing agreements. in from international or out-of-state the remaining 17% hasbeenbrought Massachusetts, laboratories within While 83%of this technology isfrom and hospital research laboratories. are builtonisrooted inacademic intellectual property thesecompanies strategy profiles. Most of the many technology andbusiness LabCentral attracts companies with Self-Invented hospitalMassachusetts Massachusetts academicinstitution Commercial License CRO for our companies and sponsors. and strengthening of thisnetwork It isour role to facilitate thegrowth startups to theinnovation ecosystem. the web we have builtto connect These sponsorsare a vital partof involvement of industry sponsors. Our model relies heavily on COMPANY-SPONSOR RELATIONSHIPS 154 IN THE NEWS 2016 was an exciting time for the LabCentral community. Resident and alumni companies achieved notable accomplishments and met critical milestones in their progress.

THIRD ROCK VENTURES LAUNCHES HUMAN HEARING LOSS COULD AFFINIVAX PROVES YOU CAN FULCRUM THERAPEUTICS WITH BE REVERSIBLE “ ” “ LAUNCH A BIOTECH WITHOUT THE ” “ ” $55 M SERIES A INVESTMENT HELP OF VCS -Business Wire, July 2016 -The Atlantic, July 2016

-Boston Business Journal, February 2016 In 2016, LabCentral resident company, Audion Therapeutics, used funds In February 2016, Affinivax received a $2.5 million investment from the Bill & from Series B and grant funding from the Horizon 2020 program in Europe Melinda Gates Foundation. This funding is being used to advance Affinivax’s for its ongoing lead program development. The company is on track AQUINNAH PHARMACEUTICALS vaccine targeting Streptococcus pneumoniae toward clinical testing. Its Multiple toward clinical trials to treat hearing loss caused by damaged or dead “ NAMED MOST INNOVATIVE ” Antigen Presentation System (MAPS) overcomes the limitations of current sensory hair cells. Audion has called LabCentral home throughout its NEURODEGENERATIVE RESEARCH conjugate vaccine technology and provides broader protection against invasive early research and proof-of-concept work. The facility gives this Dutch- disease colonization and transmission. This offers the potential to protect against COMPANY IN 2016 based company a physical presence in Cambridge’s epicenter of biotech -PR Newswire, December 2016 all pneumococcal serotypes, a significant advancement in pneumococcal research. prevention. Affinivax continues to progress its research at LabCentral as a company in residence since 2014.

VEDANTA NABS $50 M TO EXPAND UNUM THERAPEUTICS ANNOUNCES “ MICROBIOME INTO IMMUNE- ” YUMANITY THERAPEUTICS CLOSES ACTIVE INVESTIGATIONAL NEW BOOSTING THERAPIES $45 M SERIES A FINANCING “ ” -Xconomy, June 2016 “ ” DRUG APPLICATION... -Business Wire, February 2016

-Business Wire, June 2016 In June, Unum announced its first active Investigational New Drug (IND) application POLARIS CASHES IN ITS CHIPS AS for treatment of patients with relapsed/refractory CD20-positive B-cell non- LANGER-BACKED ARSIA IS Hodgkin lymphoma. This trial will be the first U.S. based clinical program for Unum. “ AUCTIONED OFF TO EAGLE FOR UP ” ENBIOTIX TO COLLABORATE WITH The company began its research at LabCentral with a single lab bench and a team TO $78M MAYO CLINIC ON ENGINEERED of two in 2014, and grew rapidly as it secured funding. The company built out its -Endpoint News, November 2016 “ PHAGE PROGRAM ” own facility and became a LabCentral alumni in the summer of 2015. -Business Wire, June 2016 IMPACT REPORT

AN ENGINE FOR JOB CREATION 2016 717 LabCentral companies continue to add value to the local economy. Since its inception, LabCentral has created a grand total of JOBS

717 new jobs. In 2016 alone, we saw 402 of these jobs created by resident companies who were able to focus startup resources on hiring additional scientific staff as progress warranted; and by alumni companies. Based on the 2016 Bureau of Labor’s Occupational Employment Statistics, these 402 jobs added roughly $43.7 million in annual wages to the local Massachusetts 2015 288 economy. LabCentral itself has added 23 jobs to the grand total of 717 jobs. JOBS 162 162 72 73% of resident 39 402 JOBS CREATED 2014 companies are By LabCentral alumni & resident companies in 2016 105 WOMEN (co)founded by JOBS comprise 44% of LabCentral residents, immigrants and 44% of these are leadership 193 positions1. Women make up 57% of the 96 LabCentral team 67

46 7 69% LabCentral companies are drawing their talent from local institutions such as OF RESIDENTS have a relationship with a Harvard University, MIT, Brigham and Massachusetts academic institution SCIENTISTS, PH.D LAB TECHNICIANS OPERATIONS EXECUTIVES Women’s Hospital, MGH & more.

1 Leadership position defined as C-level, VP, director, and senior and principal scientist WHERE ARE THEY NOW?

WALTHAM 11,000 SQ. FT. LABCENTRAL ALUMNI

BOSTON CAMBRIDGE 25,500 SQ. FT. CELEBRATING 183,640 SQ. FT. OUR COMPANIES In 2016, LabCentral saw the next generation of life-sciences companies MEDFORD 3,000 SQ. FT. graduate successfully into spaces of their own. Many of these companies have remained in the Cambridge area, with 93 percent within four miles of LabCentral. These companies continue to contribute to the thriving innovation ecosystem of Kendall Square. WATERTOWN 6,000 SQ. FT. 229,140 SQ. 25 FEET PATENTS 27 of real estate granted to residents NEW occupied 17.7 and alumni in 2016 113 LICENSING by alumni AVERAGE MONTHS NEW PATENTS companies in spent at LabCentral by 2016 alumni companies AGREEMENTS filed by LabCentral companies in 2016 formed by our teams in 2016 Massachusetts A THRIVING HUB FOR INNOVATION

10,098 150 EVENTS AND TRAININGS UNIQUE VISITORS TO LABCENTRAL

LabCentral hosted more than 150 events in 2016. Programming included seminars on technical and research trends, business development, and social events such as artist receptions and ping pong tournaments. At LabCentral, PROGRAM Technical/Scientific OFFERINGS fostering a sense of community that promotes openness and collaboration Industry Networking is an important part of how we accomplish our mission. We are excited that Community Event Business & Entrepreneurship for the first time, over 10,000 visitors benefited from this approach and were STEM Education exposed to new ideas.

ATTENTION FROM AROUND THE WORLD

LabCentral continues to serve as the new model for building early-stage

biotech companies. LabCentral was honored to host 24 international groups 24 in 2016, as well as other notable figures including representatives from theU.S. Department of Defense, France’s Minister of State for Higher Education & INTERNATIONAL TOURS Research, and ambassadors from Lithuania, Germany, Hungary and more. from across the globe, spanning from Kyoto to Saudi Arabia, Malaysia to Quebec, and more COMMUNITY ENGAGEMENT STEM

LabCentral has hosted many STEM events over the course of the past year, including the

graduation event for the BioBuilder High School Apprenticeship Challenge. This program trains high school students from Boston and Cambridge for 8-weeks in advance of summer 7 LOCAL ARTISTS internships in life science laboratories throughout Greater Boston. These internships were FEATURED supported in part by the Massachusetts Life Sciences Center.

For the third year running, LabCentral was home to YouthCITIES, and allowed the young

participants to gain hands-on experience solving big medical problems through innovation GALLERY 1832 and entrepreneurship. In addition, LabCentral welcomed visiting students from regional and Gallery 1832 is a curated gallery at LabCentral, hosting a rotation of international schools who got a glimpse of cutting-edge research and learned about the local artists. Built in 1832, this building has a notable history of science science and business of biotech from LabCentral’s entrepreneurs. and innovation. It was the home of the Edwin Land and Polaroid

laboratories, received the first long distance call from Alexander

Graham Bell, and saw the invention of the pipe wrench and the center

aisle railroad car. Gallery 1832 was created as a tribute to this colorful

history.

Gallery 1832 provides residents and visitors with new avenues to find

inspiration for innovation. LabCentral considers the gallery space an

important part of stimulating creative thinking and it is just one of the

many ways LabCentral is continuing to build community connections. GROWING TO MEET THE NEED

EXPANSION In Summer 2017, LabCentral is more than doubling its footprint at 700 Main Street to become home to even more early-stage life-science companies. This new space will offer additional options for growing teams with flexible laboratory and office solutions. Our expansion will also provide current and future resident companies with additional laboratory resources and technical capabilities in microbiology, mass spectrometry, and microscopy - more tools to advance breakthroughs for medical science.

PAGLIUCA HARVARD LIFE LAB

In the fall of 2016, The Harvard Innovation Labs opened the Pagliuca Harvard Life Lab with the direction of Lab Central. This curated wet lab co-working space, built using LabCentral’s design guidance and co-working philosophy, is located adjacent to the i-lab on the Allston campus of Harvard. It is designed to serve high-potential ventures founded by Harvard students, alumni, and faculty and is operated by LabCentral. Our team equips, oversees, and operates the facility on a day-to-day basis. A BIG THANK YOU TO OUR 2016 SPONSORS

FOUNDING

Triumvirate Environmental

PLATINUM

GOLD