Alexandria
and Lilly, which began their strategic relationship in 2008, are
collaborating to support and accelerate the development of
promising early-stage companies in the growing San Diego life science ecosystem
PASADENA, Calif., Nov. 28,
2023 /PRNewswire/ -- Alexandria Real Estate Equities,
Inc. (NYSE: ARE), the first, preeminent, longest-tenured and
pioneering owner, operator and developer of collaborative life
science, agtech and advanced technology mega campuses in AAA
innovation cluster locations, today announced an exclusive
partnership with longstanding tenant Eli Lilly and Company (NYSE:
LLY) to expand Lilly's innovative Gateway Labs model to the
San Diego life science cluster.
Launched in 2019 by Lilly in the San
Francisco Bay Area, Gateway Labs is a shared innovation
accelerator designed to speed the discovery of innovative medicines
by providing emerging biotechnology companies with
mission-critical, flexible laboratories and essential, integrated
nontechnical space; opportunities to collaborate with Lilly; and
access to capital through Lilly and its venture network, including
Alexandria Venture Investments. The new Gateway Labs site will be
located in Alexandria's University
Town Center (UTC) submarket. The unique platform will help attract
and accelerate the growth of the San
Diego cluster's next generation of leading life science
companies.
![(PRNewsfoto/Alexandria Real Estate Equities, Inc.) (PRNewsfoto/Alexandria Real Estate Equities, Inc.)](https://mma.prnewswire.com/media/1930628/Alexandria_Real_Estate_Equities_Logo_v1.jpg)
"San Diego is home to a
thriving life science community, and we're excited to provide
Lilly's scientific expertise to small biotechs in the area as they
work to discover life-changing medicines for people who need them,"
said Daniel Skovronsky, MD, PhD,
chief scientific officer, and president, Lilly Research
Laboratories, Eli Lilly and Company.
"This world-class facility will merge operational excellence
with Lilly's scientific expertise, expanding our ability to
collaborate with biotech partners and scientists on research of
mutual interest," said Julie
Gilmore, PhD, vice president and global head of Lilly
Gateway Labs, Eli Lilly and Company. "We're excited about the
opportunity to advance early-phase assets that could one day become
cutting-edge therapies for patients around the world."
Alexandria has led the
development, expansion and transformation of the San Diego life science ecosystem into one of
the country's top clusters since pioneering the life science real
estate niche in 1994 with the acquisition of its first laboratory
building in Torrey Pines. Today,
San Diego is a global leader at
the intersection of genomics and innovative medicines with a dense
concentration of world-class research institutions, including UC
San Diego, Scripps Research, the Salk Institute for Biological
Studies and Sanford Burnham Prebys, as well as a wealth of
serial entrepreneurs and life science venture investors. Over the
past five years, the amount of venture capital invested in
San Diego-based companies has
increased approximately threefold compared with the previous five
years. Additionally, a density of life science talent on par with
Boston and the San Francisco Bay Area makes San Diego a prime location for Lilly's newest
Gateway Labs.
"We value our longtime strategic relationship with Lilly, and we
are honored to work together to bring Gateway Labs to UTC in the
epicenter of the San Diego Science Sector, which is home to over
525 life science companies," said Daniel J.
Ryan, co-president and regional market director –
San Diego of Alexandria Real
Estate Equities, Inc. "Our highly impactful footprint in the San
Diego Science Sector currently consists of 14.6 million RSF, with
7.9 million RSF in operation, which supports a range of
trailblazing life science companies, including Lilly. Partnering
with Lilly on Gateway Labs in San
Diego demonstrates our shared commitment to fostering
innovation and collaboration by providing compelling high-growth
companies with the essential space, amenities and network needed to
advance transformative new medicines to benefit patients."
"We are immensely proud to have provided Lilly with long-term
real estate solutions across our innovation clusters for over a
decade, including two Gateway Labs locations in South San Francisco," said Monica Beam, senior vice president – co-lead of
science and technology at Alexandria Real Estate Equities, Inc. and
Alexandria Venture Investments. "With over 20 novel therapeutics
and platforms in development by companies in the Gateway Labs
community, this distinctive model is playing an incredible role in
advancing innovation to improve patient lives. We look forward to
the upcoming opening of Gateway Labs at the Lilly Institute for
Genetic Medicine at our 15 Necco development in Boston and, importantly, to deepening our
longstanding partnership with Lilly as we expand Gateway Labs to
San Diego."
Expected to open in the first half of 2024, the Lilly
Gateway Labs San Diego site will feature flexibly designed
move-in-ready laboratories and fully integrated nontechnical space,
open collaboration areas, core equipment, vital operational
support services and access to Alexandria's premier amenities, including
wellness and fitness programs and conference space.
About Alexandria Real Estate
Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P
500/CNW/ - company, is a best-in-class, mission-driven life
science REIT making a positive and lasting impact on the world. As
the pioneer of the life science real estate niche since our
founding in 1994, Alexandria is
the preeminent and longest-tenured owner, operator and developer of
collaborative life science, agtech and advanced technology mega
campuses in AAA innovation cluster locations, including
Greater Boston, the San Francisco Bay Area, New York City, San
Diego, Seattle,
Maryland and Research Triangle.
Alexandria has a total market
capitalization of $28.3 billion and
an asset base in North America of
75.1 million SF as of September 30,
2023, which includes 41.5 million RSF of operating
properties and 5.6 million RSF of Class A/A+ properties undergoing
construction, 8.9 million RSF of near-term and intermediate-term
development and redevelopment projects and 19.1 million SF of
future development projects. Alexandria has a longstanding and proven track
record of developing Class A/A+ properties clustered in life
science, agtech and advanced technology mega campuses that provide
our innovative tenants with highly dynamic and collaborative
environments that enhance their ability to successfully recruit and
retain world-class talent and inspire productivity, efficiency,
creativity and success. Alexandria
also provides strategic capital to transformative life science,
agrifoodtech, climate innovation and technology companies through
our venture capital platform. We believe our unique business model
and diligent underwriting ensure a high-quality and diverse tenant
base that results in higher occupancy levels, longer lease terms,
higher rental income, higher returns and greater long-term asset
value. For more information on Alexandria, please visit www.are.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements include, without limitation,
statements regarding the potential impact of Gateway Labs and
Alexandria's collaboration with
Lilly on the discovery and development of medicines and therapies;
Lilly's ability to collaborate with biotech partners and
scientists; benefits available to participants of Gateway Labs; the
features and amenities of the Gateway Labs site in San Diego; and the likelihood of continued
commitment and efforts by Alexandria to foster innovation and
collaboration. These forward-looking statements are based on
Alexandria's present intent,
beliefs or expectations, but forward-looking statements are not
guaranteed to occur and may not occur. Actual results may differ
materially from those contained in or implied by Alexandria's forward-looking statements as a
result of a variety of factors, including, without limitation, the
risks and uncertainties detailed in its filings with the Securities
and Exchange Commission. All forward-looking statements are made as
of the date of this press release, and Alexandria assumes no obligation to update
this information. For more discussion relating to risks and
uncertainties that could cause actual results to differ materially
from those anticipated in Alexandria's forward-looking statements, and
risks and uncertainties to Alexandria's business in general, please refer
to Alexandria's filings with the
Securities and Exchange Commission, including its most recent
annual report on Form 10-K and any subsequently filed quarterly
reports on Form 10-Q.
CONTACT: Sara
Kabakoff, Senior Vice President – Chief Content Officer,
(626) 788-5578, skabakoff@are.com
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