Rising rents and limited lab space are forcing biotech start - ups to move out of major cities and into the suburbs . Modern Meadow , which makes leather from synthetic animal protein , has secured lab space in Nutley , New jersey , and $ 200 m in state tax credits after facing a $ 200 million bill to build in central New York City . Exosome Diagnostics , which aims to deliver biofluid - based products , relocated to Waltham , across from downtown , to cut its rent by three to four times .
Rising rents and limited lab space are forcing biotech start-ups to move out of US cities and into the suburbs. Modern Meadow, which makes leather from synthetic animal protein, has secured lab space in Nutley, New Jersey, and $32.2m in state tax credits after facing a $200m bill to build in central New York City. Exosome Diagnostics, which aims to deliver biofluid-based diagnostics, relocated to Waltham, Massachusetts from Cambridge, to cut its rent by three to four times.