Tech lab space opening in new 4MLK building, thanks to $2M in public funds

University of Maryland BioPark lands $2.2M

The combined money from the state and city supports a tech lab space in the soon-to-open 4MLK science and office building in West Baltimore. 

Maryland and Baltimore put forth $2 million and $200,000, respectively, in conditional loans for the development of 4MLK Connect Labs. The funding was secured by the state’s Commerce Department and the public-private Baltimore Development Corporation (BDC). 

Connect Labs incorporates 35,000 square feet of flex lab facilities within the University of Maryland BioPark’s forthcoming building. It will be run by a joint venture of the real estate firms Wexford Science and Technology in Baltimore and Ventas in Chicago. Its first tenants include biotech company and 2024 RealLIST Startup Irazú Oncology, as well as BDC venture ETC Baltimore and two of its portfolio companies, per Wexford. 

“We are very pleased to work with the University of Maryland, Baltimore leadership and Baltimore Development Corporation to support this project, which is critically needed to ensure Maryland remains competitive in the life sciences industry,” said Maryland Commerce Secretary Kevin Anderson in a press release. “We have tremendous innovation coming from our universities and our private sector and this new space will help those ideas to grow from the lab to the marketplace.”

4MLK is expected to formally open on Jan. 15, though some of its spaces are already in use.

Read the full story from Technical.ly Baltimore.