Adaptimmune Therapeutics plc. (Nasdaq:ADAP), (“Adaptimmune” or the
“Company”), a clinical stage biopharmaceutical company focused on
the use of T-cell therapy to treat cancer, today announced plans to
locate its U.S. headquarters and clinical operations in a newly
developed facility to be constructed at The Navy Yard in
Philadelphia. The 47,400 square foot facility, located at 351 Rouse
Boulevard in The Navy Yard’s Corporate Center, will house a
state-of-the-art cGMP manufacturing facility designed to support
the clinical development and initial commercialization of the
Company’s novel engineered immunotherapies for cancer.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/0a4de5f1-9c8c-46ca-809c-20bca4b68597
Adaptimmune, represented by CBRE, has entered into a long-term
lease agreement for its U.S. headquarters building being developed
by Liberty Property Trust and Synterra Partners. CBRE’s Project
Management Group will also advise Adaptimmune in the construction
phase of the project. The official groundbreaking ceremony will
take place this morning at 11:00am EDT at The Navy Yard, and the
building is expected to be delivered in late 2016.
“Adaptimmune is in a period of rapid growth on both sides of the
Atlantic, and we are putting in place the facilities to enable us
to deliver our promising pipeline into the clinic and beyond,” said
James Noble, Chief Executive Officer of Adaptimmune. “This exciting
new Philadelphia facility allows us to expand our clinical and
early commercial manufacturing and control associated costs in
anticipation of the commercialization of our product candidates.
We are delighted to be working in partnership with key
players in Pennsylvania and we regard our commitment to The Navy
Yard as a vote of confidence in the city and the region as a
powerhouse for scientific and medical achievement. We started
Adaptimmune in 2008 through a partnership with the University of
Pennsylvania, and we have had roots in Philadelphia ever since. The
location provides us with an environment that promotes strong
business growth and innovation, as well as access to a rich pool of
scientific and clinical talent that we will use to place more than
110 new jobs to the area in the near future.”
Adaptimmune has also announced the construction of a major new
laboratory and office building in Milton Park, Oxfordshire
providing approximately 67,000 square feet of rentable area. The
U.K. facility will support Adaptimmune’s expanding research and
development operation and is also scheduled for delivery in late
2016, complementing its U.S. clinical and manufacturing plans.
Since its inception in 2008 in Oxford, U.K., Adaptimmune has
collaborated with the University of Pennsylvania and launched its
own U.S. operation in February 2011. The Company rapidly expanded
its clinical programs while operating out of the University City
Science Center, Philadelphia, and is currently running trials in
multiple cancers across the U.S. In May 2015, Adaptimmune achieved
a successful IPO on NASDAQ, generating net proceeds in excess of
$176M, and is advancing a promising pipeline of therapeutic
candidates based on its proprietary T-cell engineering
platform.
As an interim move, the Company has consolidated its offices at
Two Commerce Square located at 2001 Market Street, while the
development of the new facility at The Navy Yard is completed.
“Adaptimmune has shown a true commitment to Pennsylvania.
Today’s announcement is great news for the commonwealth as 110 new,
high-paying jobs will be created with this project,” said Governor
Tom Wolf. “My budget proposal includes sustained funding for the
life science sector and increased support for research within the
industry so that we continue to see successes like this for years
to come.”
“Adaptimmune’s decision to expand in Philadelphia is further
evidence of our city’s reputation as a leading place for
technology, innovation and life sciences,” said Alan Greenberger,
Deputy Mayor for Economic Development. “Companies large and small
from around the region and increasingly around the world are seeing
Philadelphia as the place they need to be in order to attract
talent, grow their business, and build their brands.”
The Navy Yard is a proud landmark of the Navy’s history and
heritage in Philadelphia. It has been revitalized as an urban
business campus, offering an exceptional workplace to attract new
talent for rapidly growing companies like Adaptimmune. The Navy
Yard offers to the Philadelphia region a unique and centrally
located waterfront site committed to smart energy innovation and
sustainability, providing employees with an environment that
inspires innovation and collaboration.
”The Navy Yard’s vibrant campus presented a compelling option
for Adaptimmune, and we are pleased to have the opportunity to
collaborate with Liberty on behalf of our client,” said Tony Rossi
of CBRE’s Life Sciences Group. "Additionally, CBRE’s role does not
end with the transaction. We are committed to ensuring
developmental excellence through the engagement of our CBRE Project
Management Team under the direction of John Richards.”
“From its inception, Adaptimmune has been at the forefront of
innovation in the life sciences, and we are delighted that the
company has expanded its U.S. headquarters and manufacturing
operations in Philadelphia,” said John Grady, President of PIDC,
Philadelphia’s public-private economic development
corporation. “We look forward to Adaptimmune joining an
inspiring, collaborative community at The Navy Yard.”
Philadelphia-based architectural firm DIGSAU is the designer of
the building, which will be the twelfth LEED® building in The Navy
Yard developed by Liberty/Synterra and is designed to achieve LEED
Gold certification under the Core & Shell™ rating system from
the U.S. Green Building Council. The high-quality design allows the
building to have its own identity while complementing its
surroundings. The façade of textured precast concrete will feature
a two-story lobby encased in glass that runs from ground to ceiling
creating an open, pedestrian-friendly environment visually
connected to the rest of The Navy Yard. Liberty Property Trust has
a unique ability to create buildings for highly specific uses that
are also cutting-edge in design and architecture. Not only will the
building visually complement and enhance the look and feel of The
Navy Yard, it will also function as a highly sophisticated and
capable lab facility for Adaptimmune.
“Adaptimmune’s decision to relocate to The Navy Yard is another
striking example of how the campus continues to attract top talent
and the companies seeking that talent,” said John Gattuso, Liberty
Property Trust Senior Vice President and Regional Director. “Our
Philadelphia team has been successful in creating a strong ‘sense
of place’ at The Navy Yard which was a major draw for our new
tenant and has been influential in generating interest from many
other leading-edge companies. Throughout the process, we worked
closely with Adaptimmune to design a flexible and innovative
facility that accommodates its very specific requirements while
creating an exciting and inspiring work environment for its growing
workforce.”
By leveraging its integrated T-Cell Receptor (TCR) engineering
platform, Adaptimmune has established an enviable pipeline of
immunotherapy candidates and is already generating promising early
data in both solid and hematologic cancers. The Company has
five phase I/II clinical trials ongoing with its NY-ESO therapeutic
candidate, an IND open with its second therapeutic candidate,
MAGE-A10, and a third candidate in planning for IND submission in
2016.
About Adaptimmune Adaptimmune is a clinical
stage biopharmaceutical company focused on novel cancer
immunotherapy products based on its T-cell receptor platform.
Established in 2008, the Company aims to utilize the body’s own
machinery - the T-cell - to target and destroy cancer cells
by using engineered, increased affinity T-cell receptors (TCRs) as
a means of strengthening natural patient T-cell responses.
Adaptimmune’s lead program is an affinity enhanced TCR therapeutic
targeting the NY-ESO cancer antigen. Its NY-ESO TCR therapeutic
candidate has demonstrated signs of efficacy and tolerability in
Phase 1/2 trials in solid tumors and in hematologic cancer types.
As of June 30, 2015, 85 patients had been treated with
Adaptimmune’s NY-ESO TCR therapeutic: 47 under Adaptimmune’s IND,
and 38 under a National Cancer Institute IND. In June 2014,
Adaptimmune announced that it had entered into a strategic
collaboration and licensing agreement with GlaxoSmithKline for the
development and commercialization of the NY-ESO TCR program. The
Company currently has over 150 employees. For more information:
http://www.adaptimmune.com
About CBRE Group, Inc.CBRE Group, Inc.
(NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in
Los Angeles, is the world’s largest commercial real estate services
and investment firm (in terms of 2014 revenue). The Company has
more than 70,000 employees (excluding affiliates), and serves real
estate owners, investors and occupiers through more than 400
offices (excluding affiliates) worldwide. CBRE offers strategic
advice and execution for property sales and leasing; corporate
services; property, facilities and project management; mortgage
banking; appraisal and valuation; development services; investment
management; and research and consulting. Please visit our website
at www.cbre.com.
About PIDCPIDC is Philadelphia’s public-private
economic development corporation. A non-profit founded in 1958 by
the City of Philadelphia and the Greater Philadelphia Chamber of
Commerce, PIDC’s mission is to spur investment, support business
growth, and foster developments that create jobs, revitalize
neighborhoods, and drive growth to every corner of Philadelphia.
Over the past 57 years, PIDC has settled over 6,500 transactions –
including $13 billion of financing and 3,000 acres of land sales –
which have leveraged over $23 billion in total investment and
assisted in retaining and creating hundreds of thousands of jobs in
Philadelphia.
In its master developer role at The Navy Yard, PIDC manages all
aspects of the property’s management and development, including
master planning, leasing, property management, infrastructure
development, utility operation, and structuring development
transactions. The Navy Yard is home to more than 11,500 employees
and 145 companies in the office, industrial, manufacturing, and
research and development sectors, occupying 7.0 million square feet
of real estate in a mix of historic buildings and new
high-performance and LEED® certified construction. For more
information about PIDC, visit www.PIDCphila.com and follow us
@PIDCphila on Twitter.
About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) is a leader in commercial real
estate, serving customers in the United States and United Kingdom
through the development, acquisition, ownership and management of
superior office and industrial properties. Liberty's 105 million
square foot portfolio includes 729 properties, which provide
office, distribution and light manufacturing facilities to 1,700
tenants. At The Navy Yard, Liberty, in connection with its joint
venture partner, Synterra Partners, has developed or is under
construction on more than 1,580,000 million square feet
representing $360 million in private investment to date. For more
information visit www.libertyproperty.com and follow us
@LibPropTrust on Twitter.
Forward-Looking StatementsThis press release
contains “forward-looking statements,” as that term is defined
under the Private Securities Litigation Reform Act of 1995 (PSLRA),
which statements may be identified by words such as “believe,”
“may,” “will,” “estimate,” “continue,” “anticipate,” “intend,”
“expect,” and other words of similar meaning. These
forward-looking statements involve certain risks and uncertainties.
Such risks and uncertainties could cause our actual results to
differ materially from those indicated by such forward-looking
statements, and include, without limitation: the success, cost and
timing of our product development activities and clinical trials;
our ability to submit an IND and successfully advance our
technology platform to improve the safety and effectiveness of our
existing TCR therapeutic candidates; the rate and degree of market
acceptance of T-cell therapy generally and of our TCR therapeutic
candidates; government regulation and approval, including, but not
limited to, the expected regulatory approval timelines for TCR
therapeutic candidates; and our ability to protect our proprietary
technology and enforce our intellectual property rights; amongst
others. For a further description of the risks and uncertainties
that could cause our actual results to differ materially from those
expressed in these forward-looking statements, as well as risks
relating to our business in general, we refer you to our final
Prospectus filed with the Securities and Exchange Commission on May
7, 2015. We urge you to consider these factors carefully in
evaluating the forward-looking statements herein and are cautioned
not to place undue reliance on such forward-looking statements,
which are qualified in their entirety by this cautionary statement.
The forward-looking statements contained in this press release
speak only as of the date the statements were made and we do not
undertake any obligation to update such forward-looking statements
to reflect subsequent events or circumstances. We intend that
all forward-looking statements be subject to the safe-harbor
provisions of the PSLRA.
The photo is also available via AP PhotoExpress.
Adaptimmune Contacts
Will Roberts
Vice President, Investor Relations
T: (215) 966-6264
E: will.roberts@adaptimmune.com
Margaret Henry
Head of PR
T: +44 (0)1235 430036
Mob: +44 (0)7710 304249
E: margaret.henry@adaptimmune.com
CBRE Group, Inc. (NASDAQ:CBRE)
Historical Stock Chart
From Aug 2024 to Sep 2024
CBRE Group, Inc. (NASDAQ:CBRE)
Historical Stock Chart
From Sep 2023 to Sep 2024