Harvard, MIT and Boston-area hospitals get $76M for health innovation center

Harvard University and the Massachusetts Institute of Technology's joint biological innovation center has secured $76 million and signed a lease for a new facility in Watertown, Mass., according to a Jan. 14 news release.

Harvard and MIT partnered with several Harvard-affiliated teaching hospitals including Massachusetts General and Brigham and Women's in November 2019 to launch the Center for Advanced Biological Innovation and Manufacturing. 

The new funding will go toward building the 40,000-square-foot facility and support 40 full-time employees. The center expects to begin operations in early 2022.

CABIM will focus on developing new gene and cell therapies, medicine and technologies. In addition to Harvard and MIT, Fujifilm, Cytiva and Alexandria Real Estate Equities contributed equal investments to launch the center.

Additional hospitals partnering with the center include Beth Israel Deaconess Medical Center, Boston Children's Hospital and the Dana Farber Cancer Institute.

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