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ABI-Labs Receives $13 Million in Financing for Expansion from Rockland Trust

ABI-Labs Receives $13 Million in Financing for Expansion from Rockland Trust.

Natick, MA - December 11, 2023 – Accelerator Biotechnology Incubator (ABI) Labs in Natick secured $13.6 million in financing from Rockland Trust for a strategic expansion which will provide additional state-of-the-art lab space and resources research to partnering businesses. ABI-Labs supports startup businesses ranging from life sciences to biotech by offering access to best-in-class equipment and services enabling new entrepreneurs access to facilities that will help grow and develop their businesses.

“ABI is excited to expand on our campus with the addition of ABI-LAB 3 and continue our mission to create an innovative community for small to mid-sized emerging life science companies. Our goal is to shorten the process of early stage and newer expanding companies by removing operational and financial obstacles. We are grateful to continue working with Rockland Trust on our next project,” said Gary Kaufman, Chief Operating Officer at ABI Labs.

“Rockland Trust proudly supports ABI-Labs' mission to foster collaborative and innovative environments for the next generation of entrepreneurs,” said Charles Cope, Senior Vice President of Commercial Banking at Rockland Trust. “I'm grateful for the relationship we have built with Gary and the team at ABI-Labs. This expansion provides a thoughtful solution which will empower more entrepreneurs to conduct meaningful research locally.”

The proceeds from the financing will be used to raze an existing motel (currently on property) and build a new 2-story, 34,831 SF research lab building with a laboratory fit-up on the first and second floors. This building is at 1350 Worcester Street in Natick MA. The shared office amenities include conference rooms with AV equipment, lounge, break rooms, shared printers, huddle rooms and a staffed reception area. The expansion is expected to be completed by November 1, 2024.

About ABI-LAB

ABI-LAB is a three-building campus of BSL2 private lab suites and office space, designed for small to mid-sized emerging life science companies. ABI offers state-of-the-art private lab suites equipped with five pieces of foundation equipment (-80 Freezer, -20 Freezer, 4-Degree Refrigerator, a Double Stacked Incubator, and a 4-Foot Bio Safety Cabinet). ABI offers an all-inclusive lease which includes utilities, access to shared amenities such as conference rooms and phone rooms, and access to ABI’s innovation lab with world-class equipment. Located in Natick, MA, ABI-LAB is 20 miles west of the largest biotech hub in the world, Boston, MA. For more information, e-mail info@abi-lab.com, follow ABI-LAB on LinkedIn, or visit abi-lab.com.


About INDB and Rockland Trust

Independent Bank Corp. (NASDAQ Global Select Market: INDB) is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. With retail branches in Eastern Massachusetts and Worcester County as well as commercial banking and investment management offices in Massachusetts and Rhode Island, Rockland Trust offers a wide range of banking, investment, and insurance services to individuals, families, and businesses. The Bank also offers a full suite of mobile, online, and telephone banking services. Rockland Trust was named to The Boston Globe's "Top Places to Work" 2023 list, an honor earned for the 15th consecutive year. Rockland Trust has a longstanding commitment to equity and inclusion. This commitment is underscored by initiatives such as Diversity and Inclusion leadership training, a colleague Allyship mentoring program, and numerous Employee Resource Groups focused on providing colleague support and education, reinforcing a culture of mutual respect and advancing professional development, and Rockland Trust's sponsorship of diverse community organizations through charitable giving and employee-based volunteerism. In addition, Rockland Trust is deeply committed to the communities it serves, as reflected in the overall "Outstanding" rating in its most recent Community Reinvestment Act performance evaluation. Rockland Trust is an FDIC member and an Equal Housing Lender.

 



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