Boston-based biotech Advanced Proteome Therapeutics (CVE:APC) said today that it is moving into Johnson & Johnson‘s (NYSE:JNJ) Innovation lab, JLabs, in Toronto.
The 40,000 square-foot incubator is home to a number of life science start-up companies, including Avrobio and Immune Biosolutions. Johnson & Johnson Innovation doesn’t take an equity stake in the companies occupying its lab space, but the start-ups can initiate external partnerships with Johnson & Johnson or other companies.
“Being selected by the Johnson & Johnson Innovation team to join JLabs @ Toronto and locating among a talented and diverse peer group is both an honour and extremely validating for our company,” CEO Randal Chase said in prepared remarks. “The work space and facilities allow us to continue advancing our research while being surrounded by fast growing and emerging companies.”
Advanced Proteome Therapeutics is developing antibody-drug conjugates to target cancerous tumors while avoiding healthy cells. The company said it is working to streamline the process by which these cancer-killing agents are prepared, since traditional methods are cumbersome.