CHICAGO — Grove Biopharma has leased space for its headquarters and research and development (R&D) lab at 400 North Aberdeen in Chicago’s Fulton Market neighborhood. Trammell Crow Co. (TCC) owns the property, which is part of the Fulton Labs development. Grove Biopharma is a preclinical biotechnology startup that previously operated out of Portal Innovation’s Fulton Labs location. The startup recently closed a $30 million Series A financing round and is now moving into its own space within a 17,000-square-foot Science-Ready Lab suite.
“Grove Biopharma is the perfect example of the thesis we planned our Fulton Labs campus around. It’s a company that spun out of Northwestern, then moved to Portal Innovations for incubation and the support ecosystem and is now moving into a large Science-Ready Lab suite to accommodate further growth,” says Morgan Baer Blaska, vice president with TCC Midwest. “In the past, a company on this growth trajectory would have considered moving to one of the coasts, but both Portal and Fulton Labs have provided an environment where science startups can grow and thrive here in Chicago.”
Founded in 2020, Grove Biopharma is pioneering its Bionic Biologics platform to develop therapies targeting previously intractable intracellular disease targets. Dan Lyne of CBRE represented TCC in the lease. Jonathan Metzl and Chip Evans of Cushman & Wakefield represented the tenant.