LabCentral Inc. has secured $22.4 million in sponsorship commitments for the development of LabCentral 238, a new co-working laboratory space in Cambridge.

The 100,000-square-foot project is slated to be part of the Massachusetts Institute of Technology’s South of Main Street Development in the Kendall Square neighborhood. LabCentral provides a shared laboratory space and was designed as a launching pad for biotech startups. LabCentral 238 is planned to be constructed in two phases, the first of which will consist of 50,000 square feet of fully permitted space. The first phase is expected to be completed in November of 2021.

The new sponsorships are being provided by Thermo Fisher Scientific and Waters Corp., which will join existing sponsor MIT and founding sponsor Astellas. The facility was designed by architectural firms Encore and Perkins + Will.

*Pictured above: An aerial view of the Massachusetts Institute of Technology.