A new hub and investment fund for biotech startups in Chicago is scooping up more space in Fulton Market.
Portal Innovations, a seed fund and accelerator program for life sciences companies, said Wednesday that it has expanded its operations by opening 35,000 square feet of wet and dry lab and office space at 400 N. Aberdeen in Fulton Labs, a life sciences campus in Fulton Market.
The expansion more than triples the size of its current space, which includes 11,000 square feet at 1375 W. Fulton St.
Founded in 2020 by John Flavin, a Chicago biotech entrepreneur, Portal Innovations aims to boost Chicago's life sciences startups through access to lab space, specialized equipment, management expertise and seed funding.
Portal's investments include Grove Biopharma, a Northwestern University spinout that's working to treat chronic inflammatory and neurodegenerative diseases, and Rhaeos, an Evanston startup that's creating a wearable skin patch that helps sufferers of hydrocephalus.
Portal is among several initiatives that are aiming to put Chicago's biotech community on the map as it competes with cities like Boston, Philadelphia and others for biotech talent.
Portal also announced Wednesday that it has hired Patrick Flavin, John Flavin's brother, to serve as president of its Chicago operation. Patrick Flavin was the founding Executive Director at MATTER, a health-tech hub in Chicago.
