NEW YORK (GenomeWeb News) – The National Center for Advancing Translational Sciences has leased a 75,000-square-foot space at the Shady Grove Life Sciences Center in Rockville, Md., Alexandria Real Estate Equities said today.
The chairman, CEO and founder of Alexandria Real Estate Equities told GenomeWeb Daily News that New York's academic and nonprofit research institutions will be among those who stand to benefit from the life sciences campus, the first phase of which it recently completed on Manhattan's East Side.
The decision, made less than a year after Pfizer penned the deal, reflects a study of its space needs in light of its planned $68 billion acquisition of Wyeth, as well as simple economics. The departure is also a setback for Mission Bay and the Bay Area's lab space market.
HCP and BioMed Realty, two of the nation's largest publicly-traded owners of life sciences space, offered largely upbeat updates on their businesses this week following the release of their quarterly financial results.
An influx of managerial and scientific talent due to layoffs from financial institutions and pharmaceutical companies, coupled with new incubator space, could help build a university-fueled life sciences cluster in the New York region, said tech-transfer experts at last week's New York Biotechnology Association meeting.
Shire Owings Mills (Md.) Plant, Alexandria Real Estate Equities, Takeda Pharmaceutical, Wareham Development, PATH, Fall River (Mass.) Executive Park, University of Massachusetts/Dartmouth Bioprocessing Facility, Silicon Border, Sapphire Engineering, Campanelli Business Park, University of California-Davis M.I.N.D., Institute, Doe & Ingalls of North Carolina, Covaris, Life Technologies, BioMed Realty Trust, Shasun Pharma Solutions
The state said it will spend $463 million to add 40,000 square feet to the Jacob K. Javits center, among other space, bringing the total exhibit area to 715,000 square feet and making it the nation's 18th largest convention center.
The deal brings to six the number of academic institutions from which Fate has licensed IP related to using small molecules to induce pluripotency in stem cells for therapeutic effect, drug discovery, and matched cell-replacement therapies.