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9/25/2025
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Shekarchi, Lawson join officials to announce inaugural members of Ocean State Labs
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 STATE HOUSE — Speaker of the House K. Joseph Shekarchi and Senate President Valarie J. Lawson joined Gov. Dan McKee and the state-supported organization Rhode Island Life Science Hub (RILSH) Wednesday to announce five inaugural members at Ocean State Labs, the state’s first life science incubator designed to support and accelerate the growth of innovative companies in the life sciences sector.
The incubator, which will be located on the fourth floor of 150 Richmond Street in the center of Providence’s Innovation District, will serve as a hub for entrepreneurs, researchers, and investors, providing the infrastructure and community needed to turn breakthrough ideas into transformative solutions. Ocean State Labs will be managed by Portal Innovations, a venture development firm that specializes in incubating early-stage companies.
“The life sciences sector is a growing engine for our economy, creating good-paying jobs and attracting investments in our state,” said Speaker Shekarchi (D-Dist. 23, Warwick). “Rhode Island has a unique ability to connect and collaborate, and today’s announcement is a result of our efforts working together. That spirit of collaboration is why the life sciences industry will continue to grow and thrive in Rhode Island, helping to shape the future of medicine and health care. Together, we are building a healthier and stronger future for our state.”
“Ocean State Labs has incredible potential, and it represents what is possible when we bring all stakeholders together behind a shared vision for Rhode Island,” said President Lawson (D-Dist. 14, East Providence). “On behalf of my Senate colleagues, I want to express my appreciation to everyone whose hard work made today’s announcement possible, and I want to welcome the new tenants of this state-of-the-art facility.”
The foundational members of Portal Innovations at Ocean State Labs include:
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Pax Therapeutics, advancing gene-delivery technologies to optimize the healing of tendon and ligament injuries.
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XM Therapeutics, developing tissue repair and regeneration platforms for chronic disorders.
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P53 Therapeutics, pursuing a new class of small molecule therapeutics designed to overcome p53 tumor suppressor mutations in cancer.
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OncoLux Inc., a MedTech company developing advanced optical imaging and AI technology to improve surgical procedures in the field of oncology.
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MindImmune Therapeutics, a biopharmaceutical company focused on neuroinflammation and Alzheimer’s disease.
Portal Innovations at Ocean State Labs is the centerpiece of a broader strategy to expand Rhode Island’s life sciences capacity, with additional space planned in Providence’s 195 District and across the state to accommodate future innovation and industry growth. Backed by an initial $45 million investment from the State of Rhode Island, RILSH is building and supporting a high-impact portfolio of life science startups advancing transformative science. By partnering with the state’s academic institutions, health systems, and industry leaders, RILSH is working to ensure Rhode Island becomes a nationally recognized hub for life science innovation, where breakthrough ideas translate into jobs, economic growth, and new therapies for patients.
For more information, contact:
Larry Berman, Communications Director for the Office of the Speaker
State House Room 322
Providence, RI 02903
(401) 447-2655
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