Local Biotech Cos. Benefit From Dot-com Decline

CAMBRIDGE, MA-Biotechnology companies here are reaping the benefits of the dot-com fallout as they are able to snatch up space the failing high-tech companies put on the market at a fraction of the price. According to the Council, a new biotech starts up in this state every other week.

“Until a few months ago, there was no space to be had here,” a spokesperson for the Massachusetts Biotechnology Council tells GlobeSt.com. “Now, with the dot-coms going out of business there is space available.”

Initially, space requirements for a biotech startup are small–usually between 5,000 sf to 20,000 sf. As a company makes the transition from research and development to process development–where they figure out the best way to make the product–to manufacturing, space needs go up. Many companies here are in tight quarters and contract out for their manufacturing needs.