MBI awarded $3.5M for new incubator space

Courtesy of Cogmedix Massachusetts Biomedical Initiatives will open an incubator space at Cogmedix' facility.

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Worcester-based Massachusetts Biomedical Initiatives has been awarded nearly $3.5 million in a capital grant from the Massachusetts Life Sciences Center to redevelop part of the Cogmedix building into a life science incubator space.

The incubator will operate more than 20,000 square feet in the building to expand its incubator operations, including 19 additional suites and supporting office space.

The “Stage II” incubator space will give MBI the ability to create up to seven suites of around 1,000- to 3,000-square-foot spaces for growing companies.

Medical device manufacturer Cogmedix, a subsidiary of Coghlin Companies, will be relocating from the space, according to a real estate listing. Cogmedix is located about a block away from MBI's space on Prescott Street in Gateway Park. The company did not immediately return a request for comment.

The grant is part of nearly $31 million to the state’s life sciences sector. Other recipients include Baystate Medical Center, Boston Children’s Hospital, Boston University Medical School, Brigham & Women’s Hospital, Gloucester Marine Genomics Institute, MassBay Community College, Massachusetts General Hospital, North Shore InnoVentures, Northeastern University and Quincy College.