CHICAGO, Nov. 18, 2021 /PRNewswire/ -- To meet the
increasing demand for medical research space in the Chicagoland
area, CBRE is expanding a 14,000 sq. ft lease to expand Cour
Pharmaceuticals' life science and emergency biotechnology footprint
within the Illinois Science and Technology Park in Skokie, Ill. With the addition, Cour
Pharmaceuticals now leases around 25,000 sq. ft. in the park.
The Illinois Science + Technology Park started with the former
corporate headquarters of pharmaceutical giant G.D. Searle and has
since created a community of scientists, inventors, and innovators.
Upon completion of its redevelopment the Illinois Science +
Technology Park will offer up to 2 million square feet of office
and state-of-the-art facilities including chemistry and biology
labs, CGMP facilities, as well as state-of-the-art clinical
"This is an exciting expansion that is illustrative of the
momentum we are seeing in this sector," said Saad. "Chicago presents a plethora of desirable
fundamentals that are tailor made for growth-stage life science
"Continued rapid growth for high-potential life science startups
are emerging in Chicago and in
addition to talent, life sciences companies like COUR will continue
to need access to more specialized wet and dry lab space along with
capital," said COUR Pharmaceuticals CEO John Puisis. "Ideal for both emerging and
established life sciences operations, CBRE can help your biotech
business take the next step in its path toward success with its a
growing portfolio of best-in-class life science developments."
According to a recent CBRE report, Chicago continues to attract significant
venture capital funding, posting a Q1 annual amount of $491,810,000, a 30 percent increase from Q1 2020.
Over the past three years, Chicago
has had the largest increase in life sciences venture capital
funding of any major U.S. market.
Among the top 12 U.S. life-science markets, Chicago has seen a substantial uptick in
inventory, with nearly 1 million sq. ft. of Class A lab space
delivered or under construction since 2020, primarily in Fulton
Market. Historically, a lack of available lab space had been a
significant impediment to the growth of Chicago's research-based life sciences sector.
Chicago has 704,545 sq. ft. of
space currently under construction, all of which being new,
ground-up construction that is expected to deliver by the end of
CBRE's David Saad represented the
Cour Pharma in the expansion transaction.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500
company headquartered in Dallas,
is the world's largest commercial real estate services and
investment firm (based on 2020 revenue). The company has more than
100,000 employees serving clients in more than 100 countries. CBRE
serves a diverse range of clients with an integrated suite of
services, including facilities, transaction and project management;
property management; investment management; appraisal and
valuation; property leasing; strategic consulting; property sales;
mortgage services and development services. Please visit our
website at www.cbre.com.
COUR Pharmaceuticals is developing first-in-class therapies
designed to reprogram the immune system to achieve antigen-specific
tolerance for immune-mediated disease. COUR's platform of
immune-modifying nanoparticles treats the root cause of immune
disease, unlike traditional approaches, which only minimize
symptoms using toxic immune suppression. COUR's lead product for
celiac disease, partnered with Takeda Pharmaceutical Company, is
the first demonstration of induction of antigen-specific immune
tolerance in any autoimmune disease. Data from clinical and
preclinical settings demonstrate the opportunity for the COUR
nanoparticle platform to address a wide range of immune and
inflammatory conditions. The underlying technology was acquired
from Northwestern University and draws from more than 30
years of research by the laboratory of Stephen D. Miller,
Ph.D., the Judy E. Guggenheim Research Professor of
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SOURCE COUR Pharmaceuticals