Governor McKee, RI Life Science Hub Announce Five Foundational Companies for Ocean State Labs
Published on Wednesday, September 24, 2025
Managed by Portal Innovations, the state’s first life science incubator will officially open during the first quarter of 2026
PROVIDENCE, RI – Governor Dan McKee and the state-supported organization Rhode Island Life Science Hub (RILSH) today announced 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 foundational members of Portal Innovations at Ocean State Labs include:
- Pax Therapeutics, advancing gene-delivery technologies to optimize the healing of tendon and ligament injuries.
- XM Therapeutics, developing tissue repair and regeneration platforms for chronic disorders.
- P53 Therapeutics, pursuing a new class of small molecule therapeutics designed to overcome p53 tumor suppressor mutations in cancer.
- OncoLux Inc., a MedTech company developing advanced optical imaging and AI technology to improve surgical procedures in the field of oncology.
- MindImmune Therapeutics, a biopharmaceutical company focused on neuroinflammation and Alzheimer’s disease.
“Rhode Island is a prime environment for the life science sector, creating higher education pathways to support these highly skilled, well-paying jobs,” said Governor McKee. “From gene therapy and tissue regeneration to cancer therapeutics and surgical enhancements, the companies announced today are just the latest indicators that the Life Science Hub is attracting innovative businesses and top talent to Rhode Island.”
“Our mission is to make Rhode Island a destination for life science innovation. Welcoming these companies as the first tenants at Ocean State Labs marks an important milestone for building and sustaining Rhode Island’s life sciences ecosystem,” said Dr. Mark A. Turco, President and CEO of RILSH. “By pairing local innovation with Portal’s proven model for nurturing early-stage science, we are creating an environment where founders can build successful companies, bringing novel therapies and technologies to the market with the hopes of improving health and well-being across the globe.”
Portal Innovations at Ocean State Labs will provide critical infrastructure to support early-stage life science companies in Rhode Island as they grow and advance their technologies. The lab is currently being developed by L&G – Asset Management, America, RILSH, and the 195 District, in partnership with Brown University, and will provide more than 30,000 square feet of office and lab space and host up to 30 startup companies.
“Portal is proud to partner with Rhode Island to create Ocean State Labs and help catalyze the development of a life sciences ecosystem where ideas flourish and companies grow,” said John Flavin, Founder and CEO of Portal Innovations. “Rhode Island offers a rare combination of academic strength, buildable space, transformative science, and a right-sized environment where startups can move faster. By combining venture capital, lab infrastructure, and wraparound support under one roof, we are giving founders the resources they need to succeed from day one.”
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.