Eli Lilly and Company (NYSE: LLY), a US-based pharmaceutical company, announced on Tuesday that it is planning to open its first-ever Lilly Gateway Labs location in San Diego, California in the first half of 2024.

Gateway Labs is the company's shared innovation accelerator that provides participating companies with lab space and access to Lilly scientists, researchers and executives and exposure to the firm's functional and scientific expertise.

The new site is situated at Alexandria's University Town Center (UTC) campus, and provides around 62,000 square feet of rentable, flexibly-designed lab space, and open workstations to foster scientific exchange and collaboration among participating companies. It is expected to accommodate 10 firms and over 120 biotech and Lilly employees.

Julie Gilmore, PhD, vice president and global head of Gateway Labs, said: "Lilly has been supporting early-phase external innovation for decades, and we are excited to continue to expand our Gateway Labs shared innovation spaces to a larger network of life science startups. The expansion of our Gateway Labs model will grant scientists access to Lilly's research operations, mentorship and expertise in an environment made to foster scientific breakthroughs."