August 16, 2017 Comments Off on States Fight for Biotech Start-Up Views: 1368 New York News, Tri-State Area New York

States Fight for Biotech Start-Up

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Both New Jersey and New York won the battle to provide space to Modern Meadow, a “biofabrication” company with a mission to re-imagine animal materials, such as leather, by applying design and engineering to biology.

Modern Meadow will move its headquarters to a new 72,900-square-foot space at ON3, the former Hoffmann-La Roche campus in Nutley, NJ owned by Prism Capital Partners. Cushman & Wakefield represented the tenant.

Founded in 2011, the firm will leave its BioBAT location at Brooklyn Army Terminal in Brooklyn’s Sunset Park neighborhood, lured in part by Grow NJ tax credits of up to $32 million approved by the New Jersey Economic Development Authority. With $53.5 million total funding to date and room to grow, the firm is now hiring and planning to add 200 new employees by 2020.

Modern Meadow will also maintain a design and applied research studio in New York City, as part of the advanced manufacturing community at New Lab in the Brooklyn Navy Yard. “We’re eager to grow our headquarters in New Jersey while retaining a connection to the vibrant design and innovation ecosystem of New York,” said Andras Forgacs, CEO of Modern Meadows.

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