WATERTOWN, Mass.— Labshares, Greater Boston’s shared laboratory provider for biotechnology companies, announced that it has signed a lease for a new 57,882-square-foot facility at 66 Galen Street in Watertown, more than doubling its total footprint to over 100,000 square feet.
The expansion will help meet surging demand for flexible, capital-efficient lab space that allows biotechs to scale smarter and focus on science.
The new facility will open in two phases—Phase 1 in Q2 2026 and Phase 2 in Q4 2026—and will complement Labshares’ existing locations at 55 Chapel Street and 90 Bridge Street in Newton. Together, these sites extend the company’s reach across Greater Boston’s thriving life sciences corridor.
“This expansion reflects the continued demand for lab solutions that help biotech companies grow sustainably in all market cycles,” said Philip Borden, CEO of Labshares. “Biotech R&D has evolved. Smaller teams, faster discovery cycles, and new technologies like AI require a different approach. Labshares offers cost efficiency and flexibility in equal measure—enabling companies to advance discovery faster and operate more efficiently.”
Growth Amid Industry Headwinds
At a time when much of the biotech real estate market is contracting, Labshares continues to grow. The company’s facilities are operating at nearly 90% occupancy, with a 77% renewal rate and an average member satisfaction score of 3.8 out of 4.0. Since 2022, more than 70% of members have expanded their footprint within Labshares’ facilities—demonstrating the appeal of its shared-lab model in a cautious funding environment.
Labshares’ turnkey laboratory and office spaces are fully equipped and supported by on-site operational, compliance, and technical teams. Members share access to more than $10 million in advanced lab instrumentation, including cell sorters and spectral flow cytometers, reducing operating costs by 60–70% compared with traditional leases or subleases.
A New Kind of Home for Biotech Growth
Unlike traditional incubators that focus on short-term tenants, Labshares offers a continuum of space and services that allows companies to start, stay, and scale in one place. The average tenure exceeds three years, reflecting a growing demand for long-term flexibility among biotech firms.
“As we advanced through preclinical discovery into a clinical company, Labshares gave us the flexibility to scale operations without the usual infrastructure hurdles,” said Dr. Kate Yen, Founder and CEO of Auron Therapeutics. “The capital efficiency of the model, combined with access to top-tier equipment and a supportive team, allowed us to stay focused on science instead of facilities.”
Watertown’s Growing Life Sciences Hub
The new Watertown site, owned by The Davis Companies, features state-of-the-art lab infrastructure, free underground parking, and multiple public transit and shuttle options. Located minutes from Labshares’ Newton facilities, 66 Galen Street offers a cost-effective alternative to Kendall Square and the Seaport, reinforcing Watertown’s rise as a key life sciences destination.
Founded in 2018, Labshares has supported more than 90 biotech companies to date, including 25 active members ranging from early-stage startups to publicly traded firms. Nearly 40% of current members are profitable or have raised over $100 million in funding.
