Bakar Labs helps companies raise more than $1 billion in its first four years of operation
Life science incubator part of UC Berkeley’s wider ecosystem, which has consistently ranked the number one university for entrepreneurs
BERKELEY, Calif., February 24, 2026 – Bakar Labs, UC Berkeley’s flagship incubator supporting innovation in life sciences, energy and materials, today announced that its companies have raised more than $1 billion in cumulative funding over its first four years of operation. This underscores both the quality of its science and the resilience of its entrepreneurial ecosystem during a period of time when early-stage biotech funding sharply declined. Since its official opening in February 2022, Bakar Labs has supported more than 50 companies developing therapeutics and diagnostics. Collectively, those companies have created more than 500 jobs across California, underscoring the incubator’s role in translating academic research into commercial ventures with tangible economic impact.
“This milestone reflects the purpose Bakar Labs was built to serve,” said David Schaffer, director of Bakar Labs and UC Berkeley professor of chemical and biomolecular engineering. “Our mission is to help scientific discovery move out of the lab and toward real-world impact. Seeing that vision come to fruition through company formation, job creation and sustained investment signals the strength of this model and the opportunity ahead.”
The $1 billion threshold was officially crossed following a $100 million Series A funding round by Addition Therapeutics, a UC Berkeley spinout and former Bakar Labs tenant. Co-founded by UC Berkeley professor Kathleen Collins, the company is creating one-time-dose therapies for chronic and rare diseases, an area where long development timelines make early and sustained funding essential. CEO Ron Park, MD said of the funding, “The fundamental truth about biotechs is you typically don’t have revenue until the drug is approved, which in many cases takes 10 years or longer. So this funding is necessary to go through the very expensive drug discovery and development process.”
Since its inception, Bakar Labs has provided lab infrastructure, mentorship and strategic connections within UC Berkeley’s innovation ecosystem, including Berkeley SkyDeck, the Life Sciences Entrepreneurship Center, CITRIS Foundry and eight campus-affiliated venture funds. In addition, affiliations with more than 25 large companies provide tenants with access to industry resources. The incubator plans significant expansion in the coming years, including two new biotech sites and Bakar Labs for Energy and Materials, which will open in 2028.
“Beyond benches and scientists, relationships and trust are essential to the business of drug development. Investors and pharma partners must know we will be responsible stewards of funding and engage in rigorous science. The ecosystem at Bakar Labs was the first to connect us with world-leading researchers, business advisors, investors and pharma” said Sophia Lugo, co-founder and CEO of Radar Therapeutics. “QB3, BEVC, Amgen, Lilly, AbbVie, J&J, members of our SAB and more came to us at Bakar Labs. We started with a single bench and desk funded by AbbVie and left with the talent, funding and connections to industry necessary in building our groundbreaking RNA therapeutics engine.”
While many tenant companies originate from UC Berkeley research, Bakar Labs also attracts founders from outside the university. Current tenant companies include startups co-founded by researchers from industry and other leading academic institutions, reinforcing the incubator’s broader pull across the California life science community and beyond.
“Bakar Labs has been instrumental in helping advance high-quality biotech research emerging from UC Berkeley into viable companies,” said Corey Goodman, managing partner at venBio Partners and a member of the Bakar Labs board. “That progress is particularly notable given the difficult fundraising environment early-stage biotech companies have faced in recent years, making the more than $1 billion raised across current and alumni companies a strong signal of the science and the ecosystem supporting it.”
About Bakar Labs
Bakar Labs is UC Berkeley’s flagship incubator supporting innovation in life sciences, energy and materials. Operated by QB3, Bakar Labs provides extensive equipment, lab and office facilities, and a community of like-minded entrepreneurs to help startups grow. Bakar Labs can support as many as 50 early-stage companies from around the world focused on translating innovations that promise to improve human and planetary health. No UC affiliation is required to join. For information about how to join or form a partnership, visit bakarlabs.org.
