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LabShares Newton Selects L Stem Therapeutics as Winner of Second Launch@LabShares Competition Valued at $50K

July 3, 2019 Off By BusinessWire

LabShares, MassCONNECT and the MTTC awarded L Stem Prize at MALSI Day

NEWTON, Mass.–(BUSINESS WIRE)–LabShares Newton, a shared office and laboratory incubator for emerging biotechnology and life science companies, announced at Thursday’s MALSI Day that L Stem Therapeutics is the winner of the second Launch@LabShares competition, providing a $50K year-long membership, including scientific and operational support, to this novel diagnostics startup. The Launch@LabShares award was sponsored by Labshares, MassCONNECT, a life science focused entrepreneur mentorship program, and the MTTC, Massachusetts’ quasi-public agency that accelerates academic technology transfer.

“We are excited to be able to welcome L Stem to the growing LabShares community,” said Jeff Behrens, co-founder and CEO of LabShares Newton. “As our 13^th member and the second winner of our Launch@LabShares award, we are thrilled to support L Stem as it develops its exciting technology focusing on the treatment of blood cancers.”

L-Stem is a graduate of the MassCONNECT mentorship program and is led by Dhvanit Shah of Nationwide Children’s Hospital. The company was selected based on its proprietary technology which aims to address a largely unsatisfied R/R-AML blood cancer.

“L Stem is grateful and honored to receive the Launch@LabShares Business Plan competition award and the laboratory space. We are glad that leaders in Massachusetts innovation ecosystem, MassBio and MTTC, have recognized our commitment, technology, and business focus to treat blood cancers,” said Dhvanit Shah, L Stem CEO and Founder. “L Stem is looking forward to becoming part of the vibrant innovative community at LabShares and generating opportunities for mutual success.”

LabShares presented the award in front of more than 400 people to L-Stem at the MALSI Day on June 27^th after a rigorous selection process led by LabShares, MassCONNECT and MTTC. “We were delighted to support Launch@LabShares as part of MALSI,” said Vinit Nijhawan, Interim Executive Director of MTTC. “L-Stem is another example of Massachusetts leading the nation in translating basic research to the market.”

About LabShares Newton

LabShares Newton is an office and laboratory incubator for emerging biotechnology and life science start-ups. The shared space provides a collaborative, affordable and entrepreneurial research environment for early-stage companies in a convenient location close to Cambridge and Boston. LabShares has developed a state-of-the-art facility that is fully permitted and professionally maintained, offering a variety of support services and amenities. For more information on LabShares, or to arrange a tour, please contact Hannah Schram at [email protected] or visit www.labshares.com.