ProThera renting Brown building, subleasing to two tech startups

Dr. Yow-Pin Lim is the founder of ProThera Biologics, which moved to 349 Eddy St. last month in Providence, a Brown University building. / PBN FILE PHOTO/TRACY JENKINS
Dr. Yow-Pin Lim is the founder of ProThera Biologics, which moved to 349 Eddy St. last month in Providence, a Brown University building. / PBN FILE PHOTO/TRACY JENKINS

PROVIDENCE – Brown University has leased its 4,000-square-foot building at 349 Eddy St. to biotechnology firm ProThera Biologics.
ProThera also has letters of intent from two other startups, Ryon Technologies and 3prime Dx, to sublet some of the space during the three-year lease. ProThera, which moved in Feb. 15 and occupies about 3,000 square feet, also is in talks with a third company to sublet space, according to a Brown spokesman. ProThera moved to the city from East Providence.
ProThera CEO Dr. Yow-Pin Lim founded the company, which focuses on the role and commercial potential of inter-alpha inhibitor proteins for treating acute life-threatening inflammatory diseases, with Douglas C. Hixson in 2002. They are both researchers at Brown and at Lifespan, the largest health care system in Rhode Island.
John Luipold, Brown’s assistant vice president for real estate, said the new tenants mark a continuation of Brown’s vision for the building, acquired in 2007, of making it a welcoming home for local startups.
“Since 2010, Brown has used this building to help early stage startups by offering good space at attractive rents,” he said in a statement. “We have rented the building to Nabsys and also NuLabel Technologies during their early growth stages. Both companies, founded by Brown grads, outgrew the building and have moved elsewhere in Rhode Island.”
NuLabel, which has since moved to East Providence, was its most recent tenant.

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