Arvinas Signs Lease for New Space Within Downtown Crossing Development in New Haven
May 04 2021 - 2:52PM
Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology
company creating a new class of drugs based on targeted protein
degradation, today announced that it will be leasing three of the
10 floors at 101 College Street in New Haven, Conn. Winstanley
Enterprises, LLC., is the developer on this multi-tenant project.
The 101 College Street building is part of the Downtown Crossing
revitalization project near the Yale School of Medicine and
Yale-New Haven Hospital. Construction of 101 College is scheduled
to begin in the first half of 2021, and the Arvinas space is
estimated to be complete and open for occupancy in 2024. Arvinas
will occupy approximately 160,000-square-feet of lab and office
accommodations. Arvinas will remain at its current location in
Science Park until 101 College is available for occupancy.
“Arvinas has experienced significant growth over the last
several years as we have led the development of a completely new
treatment approach for cancers and other difficult-to-treat
diseases,” said John Houston, Ph.D., President and Chief Executive
Officer at Arvinas. “As a company incubated out of Yale, our
commitment to New Haven is strong. We’re proud to continue to be a
part of this rapidly growing biopharmaceutical hub and contribute
to the continued development of the downtown area.”
“The City of New Haven is thrilled that Arvinas has selected 101
College Street for their future headquarters location. This is an
exciting milestone for Arvinas, New Haven, and Connecticut,” said
New Haven Mayor Justin Elicker. “New Haven has a lot to offer, and
we look forward to continuing the progress of the Downtown Crossing
project.”
“Arvinas’ decision to join 101 College Street is clear
reinforcement of Connecticut’s commitment to the bioscience
sector,” said Governor Ned Lamont. “This is another critical step
in realizing New Haven and Connecticut’s shared vision for the
Downtown Crossing project – an important revitalization effort and
economic investment.”
Construction of 101 College in the Downtown Crossing section of
New Haven is an important step in the revitalization of the City's
downtown neighborhoods. When complete, Downtown Crossing will
create a connected, walkable community in New Haven’s life sciences
district, ease traffic, and bolster Connecticut’s
economy. Notably, the project will help connect Yale’s medical
and central campuses with world-class life science companies and
hundreds of skilled employees. Downtown Crossing is funded by the
U.S. Department of Transportation’s TIGER II grant, the City of New
Haven, and the State of Connecticut.
About ArvinasArvinas is a clinical-stage
biopharmaceutical company dedicated to improving the lives of
patients suffering from debilitating and life-threatening diseases
through the discovery, development, and commercialization of
therapies that degrade disease-causing proteins. Arvinas uses its
proprietary PROTAC® Discovery Engine platform to engineer
proteolysis targeting chimeras, or PROTAC® targeted protein
degraders, that are designed to harness the body’s own natural
protein disposal system to selectively and efficiently degrade and
remove disease-causing proteins. In addition to its robust
preclinical pipeline of PROTAC® protein degraders against validated
and “undruggable” targets, the company has two clinical-stage
programs: ARV-110 for the treatment of men with metastatic
castrate-resistant prostate cancer; and ARV-471 for the treatment
of patients with locally advanced or metastatic ER+/HER2- breast
cancer. For more information, visit www.arvinas.com.
Forward-Looking StatementsThis press release
contains forward-looking statements that involve substantial risks
and uncertainties, including statements regarding the development
and regulatory status of our product candidates,and the potential
advantages and therapeutic potential of our product candidates. All
statements, other than statements of historical facts, contained in
this press release, including statements regarding our strategy,
future operations, prospects, plans and objectives of management,
are forward-looking statements. The words “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “may,” “might,” “plan,” “predict,”
“project,” “target,” “potential,” “will,” “would,” “could,”
“should,” “continue,” and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words.
We may not actually achieve the plans, intentions or
expectations disclosed in our forward-looking statements, and you
should not place undue reliance on our forward-looking statements.
Actual results or events could differ materially from the plans,
intentions and expectations disclosed in the forward-looking
statements we make as a result of various risks and uncertainties,
including but not limited to: whether we will be able to
successfully conduct Phase 1/2 clinical trials for our current
product candidates, complete our clinical trials for our other
product candidates, and receive results from our clinical trials on
our expected timelines, or at all, whether our cash resources will
be sufficient to fund our foreseeable and unforeseeable operating
expenses and capital expenditure requirements on our expected
timeline and other important factors discussed in the “Risk
Factors” sections contained in our quarterly and annual reports on
file with the Securities and Exchange Commission. The
forward-looking statements contained in this press release reflect
our current views with respect to future events, and we assume no
obligation to update any forward-looking statements except as
required by applicable law. These forward-looking statements should
not be relied upon as representing our views as of any date
subsequent to the date of this release.
Contacts for
ArvinasInvestorsWill O’Connor, Stern
Investor Relations ir@arvinas.com
MediaKirsten Owens, Arvinas
Communicationskirsten.owens@arvinas.com
Aerial view of 101 College Street in the Downtown Crossing
section of New Haven, Conn. is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6a9f2066-a2da-4339-9797-50028fdf0b17.
Street view of 101 College Street in the Downtown Crossing
section of New Haven, Conn. is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8c683120-1cd1-4b03-b8b1-5024792ed164.
A view of the outdoor courtyard and sidewalk area adjacent to
101 College Street is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fd2d2c23-bf2e-45e5-aa2c-a612e233dffd.
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