Inside Eli Lilly’s Gateway Labs Newest Incubator for Biotech Startups
The San Diego-base Incubator Plans to Support up to 10 Local Biotech Startups
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Eli Lilly and Company (NYSE: LLY), a 150-year-old pharmaceutical giant which has a growing presence in San Diego, is seeking to support the next generation of biotech startups working at the cutting edge of innovation.
In November last year, the company announced it would open the first Lilly Gateway Labs in San Diego – a coworking lab and accelerator space – in partnership with Alexandria Real Estate Equities.
The Indianapolis-based drug powerhouse is the latest major corporation to double down and invest capital into San Diego’s thriving startup and innovation scene.
“Lilly’s Gateway Labs is a model that started about five years ago,” said Julie Gilmore, Global Head of Lilly Gateway Labs at Eli Lilly and Company. “It began as a concept of ‘How can Lilly better engage with biotech companies and support them?”
“The goal is to build relationships with life science companies, help them progress, and eventually partner when they are ready to transact,” she said.