Biotechnology / Real estate / Science

Modern Meadow to leave Brooklyn for Jersey, but will keep R&D in New Lab

But the biofabricated leather company will keep an R&D studio at New Lab.

Modern Meadow founder Andras Forgacs shows off some synthetic skin. (Image via YouTube)
Correction: Modern Meadow's leather is not synthetic, as was previously reported, it is biofabricated. The story has been updated. (8/21/17, 10:04 a.m.)

One of Brooklyn’s largest tech firms is shipping off to the lush pastures of New Jersey, lured by abundant space and a generous tax break.

Modern Meadow announced this week it will move its headquarters from Sunset Park to Nutley, N.J., not far from the Meadowlands. The company said it will take more than 70,000 square feet there, to go along with a Grow NJ tax credit worth up to $32 million.

Modern Meadow is a “biofabrication company.” Its principal product is leather grown on a petri dish rather than on a cow.

To date, Modern Meadow has raised $53.5 million, including a massive $40 million round last year.

The company will retain a Brooklyn presence, with an applied research studio at New Lab, the manufacturing and design campus at the Brooklyn Navy Yard.

Companies: New Lab / Brooklyn Navy Yard
Series: Brooklyn

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