At life sciences incubator LabCentral, a change at the top in a challenging time
Fruehauf said he's stepping away from day-to-day management to spend more time on the global expansion of his two other businesses, for-profit BioLabs and Mission BioCapital, a venture capital firm.
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The change at the top comes as LabCentral, which has nurtured the growth of 278 life sciences companies over the past decade,
O'Toole, 56, who worked at about a dozen startups before joining LabCentral, has been deeply involved in its operations and growth since its founding. She's been responsible for space design, operations at six facilities, and community programming where entrepreneurs and researchers can network, swap tips, and share best practices.
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A major goal in her new role, she said, is to help address 'pain points' for member companies at a time of transition in the life sciences sector. Among other steps, she's working to match them up with investors, including many of the drug giants that are LabCentral sponsors.
Just last month, one of LabCentral's member companies, MIT-founded Gensaic, which uses AI-powered protein design to improve the tissue targeting of therapies,
O'Toole said she's also been talking with others in the sector about finding ways to offset the impacts of
'I want to think of creative ways that we can offset these challenges and not have innovation be limited as a result of the funding gap,' said LabCentral's incoming CEO Maggie O'Toole.
Lane Turner/Globe Staff
'In light of some of the challenges going on in the industry,' O'Toole said, 'I really want to find the right way for us to support our companies. ... I want to think of creative ways that we can offset these challenges and not have innovation be limited as a result of the funding gap.'
Fruehauf, who immigrated from Germany, said he's also concerned about whether the United States will continue to be the engine for scientific breakthroughs that has drawn scientists from around the globe.
'The basic science machine that's been going on very successfully over many decades has been put in jeopardy,' he said. 'We hope and we believe that it will become evident to the decision makers that it is in our common interest to not undermine this area where American leads. ... The innovation enterprise in this country is the envy of the world.'
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Maggie O'Toole, incoming CEO, and Johannes Fruehauf, outgoing CEO, in Kendall Square space of LabCentral, which now owns or manages a half dozen biotech coworking spaces spanning 243,000 square feet in Cambridge and Boston.
Lane Turner/Globe Staff
LabCentral has expanded from its initial site at 700 Main St. in Kendall Square, built with the help of two grants totaling $10 million from the Massachusetts Life Sciences Center. It now owns or manages a half dozen biotech coworking spaces spanning 243,000 square feet in Cambridge and Boston. They include a pair of lab incubators it manages for Harvard in Allston and the Longwood Medical Area in Boston.
More recently, however, occupancy rates are down at LabCentral and across Kendall Square and other Massachusetts biotech clusters. LabCentral abandoned plans for more sites even as it announced it was opening a new
O'Toole said she doesn't foresee a major shakeup at LabCentral but wants to improve its 'concierge level of service' to the startups that work there until they advance to the stage where they need larger spaces.
Even as she's managed LabCentral operations, O'Toole, a former college swimmer who competes in triathlons, has been an evangelist for the LabCentral model around the world, visiting with life sciences innovators in far-flung locales from Korea and China to Sweden and Australia.
She's also hosted hundreds of delegations from across the country and overseas that have visited LabCentral on trips to Cambridge over the years. Just last week, she met with 20 visitors from Oslo, Norway.
'They were trying to understand the secret of Kendall Square,' she said.
Robert Weisman can be reached at
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