Image courtesy of Griffith Properties

Another Cambridge biotech is following the well-trodden path from a Kendall Square incubator to its own dedicated lab space at a new Watertown development.

Satellite Biosciences leased 37,000 square feet at 580 Pleasant St., a flex building-to-life science conversion by Griffith Properties and a fund controlled by DRA Advisors.

Satellite Biosciences announced in April that it had received $110 million in previously undisclosed venture capital investments, including a series A round led by Israeli life science fund a Moon Growth. Founded by scientists from Boston University and Massachusetts Institute of Technology, Satellite Biosciences is researching implantable therapies to treat diseased tissue and organs.

In 2021, Griffith Properties announced plans to convert the 2-story, 145,000-square-foot industrial building, previously owned and occupied by Fluid Management Systems Inc., into lab space after acquiring the property for $21.5 million.

The base building improvements are scheduled to be completed in August, according to a marketing brochure by brokerage CBRE. The lease runs for eight years, according to a filing with the Middlesex County Registry of Deeds.

Editor’s note: This report has been updated to reflect that the Satellite Bioscences lease is for 37,000 square feet.