Alexandria LaunchLabs - AgTech, the Premier Platform Accelerating the Growth of Early-Stage AgTech and FoodTech Companies, Announces Winner of Its Inaugural $100,000 AgTech Innovation Prize

PASADENA, Calif. and DURHAM, N.C., June 30, 2020 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT and the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, today announced the winner of its inaugural 24100%2C000+AgTech+Innovation+Prize" rel="nofollow">$100,000 AgTech Innovation Prize that called on innovators with demonstrated novel approaches to agriculture-, food- and nutrition-related challenges, which are key to advancing human health. The prize was awarded to TerMir Inc., a North Carolina–based agtech company pioneering an innovative and environmentally safe treatment for citrus greening disease—one of the most devastating citrus diseases in the world. Citrus greening disease has resulted in a drop in citrus production and harvesting while driving up costs and job losses. In response to this presently incurable agricultural, environmental and economic challenge, TerMir has developed a cutting-edge and effective solution for breaking the greening cycle with the potential to eradicate the disease.

"Strategic efforts like our AgTech Innovation Prize are vital to fostering the next generation of leading agtech companies who hold the promise of developing groundbreaking solutions aimed at ensuring a sustainable, accessible and healthy global food supply," said Blake Stevens, PhD, principal of science and technology and head of Alexandria LaunchLabs^® – AgTech at Alexandria Real Estate Equities, Inc./Alexandria Venture Investments. "We are thrilled to select TerMir as our prize winner and to welcome them to Alexandria LaunchLabs – AgTech, where we provide a dynamic environment that supports our member companies' visions and enhances their trajectories. Alexandria remains focused on providing mission-critical infrastructure and capital to the essential agtech industry that has garnered increasing attention in the face of a growing population and changing weather patterns, as well the COVID-19 pandemic, which has further highlighted the need to transform the food supply chain and enhance the nutritional value of food."

Alexandria's national competition, which celebrates and rewards excellence in early-stage science, leadership and business strategy, was successful in attracting approximately 70 emerging agtech applicant companies from 20 states across the United States. The diverse applicant pool was narrowed down to seven finalists focusing on an array of agtech areas, including crop protection, digital platforms, robotics, next-generation fabrics and animal vaccines. In May, TerMir and six other finalists—Agrynex (New York), Ascribe Bioscience (New York), EarthSense (Illinois), GALY (California), Mazen Animal Health (Missouri) and TreeCo (North Carolina)—presented their pitches virtually before an esteemed panel of judges, who included leaders from Alexandria's preeminent life science and agtech networks.

Alexandria LaunchLabs – AgTech selected TerMir as the AgTech Innovation Prize winner based on its proprietary, patent-protected technology with a new mode of action for controlling the bacteria that causes citrus greening disease; its experienced leadership team; and its traction in the agtech industry. TerMir's systemic formulation breaks the disease cycle by eliminating bacteria within a tree's vascular system. The company also has field trials underway for a plant-based, biological herbicide to enhance crop growth.

As the winning company, TerMir received a $75,000 cash prize and a one-year membership to Alexandria LaunchLabs – AgTech, worth an additional $25,000, to support the advancement of its innovative technologies. Alexandria LaunchLabs – AgTech is ideally located at the Alexandria Center^® for AgTech in Research Triangle and provides its member companies with highly flexible office/laboratory and greenhouse space, operational mentorship, strategic programming, access to seed capital through the Alexandria Seed Capital Platform and engagement with Alexandria's expansive network. During the global COVID-19 pandemic, Alexandria LaunchLabs has maintained its unmatched operations, as well as implemented comprehensive COVID-19 measures to foster a safe and productive environment for its members and to enable them to continue their critical research and development efforts.

"The TerMir team is excited to be selected as the prize winner and to become an active member of the campus communities of Alexandria LaunchLabs – AgTech and the Alexandria Center for AgTech," said Chad Brommer, PhD, co-founder of TerMir. "We look forward to making the most of Alexandria's world-class network of industry experts and investors and its unparalleled offerings."

Learn more about Alexandria's mission-critical investments in agtech—including the nation's first and only integrated multi-tenant agtech R&D and greenhouse campus, the Alexandria Center^® for AgTech – Research Triangle—in the company's recently published 2019 Corporate Responsibility Report.

About Alexandria LaunchLabs

Alexandria LaunchLabs is the premier, full-service startup platform designed to dramatically accelerate the growth of early-stage life science and agtech companies. With operational life science sites in New York City, Cambridge and Seattle, as well as an agtech site in the Research Triangle, Alexandria LaunchLabs provides move-in-ready office/laboratory space, first-class support resources, shared equipment and services, creative amenities and access to funding through the Alexandria Seed Capital Platform to drive life-changing innovation. At Alexandria LaunchLabs, it is our unwavering goal to provide high standards of health and safety for the benefit of our member companies, and we have implemented comprehensive COVID-19 operational measures with their safety and well-being in mind. We are currently accepting applications for future members in Cambridge, Greater Los Angeles, New York City, Research Triangle and Seattle. For more information, please visit www.alexandrialaunchlabs.com.

About Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500^® urban office REIT, is the first, longest-tenured and pioneering owner, operator and developer uniquely focused on collaborative life science, technology and agtech campuses in AAA innovation cluster locations, with a total market capitalization of $24.3 billion as of March 31, 2020, and an asset base in North America of 41.5 million SF. The asset base in North America includes 28.8 million RSF of operating properties and 2.1 million RSF of Class A properties undergoing construction, 6.5 million RSF of near-term and intermediate-term development and redevelopment projects, and 4.1 million SF of future development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science, technology and agtech 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, technology and agtech companies through our venture capital arm. 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 impact of the Alexandria LaunchLabs^® platform and the success of Alexandria LaunchLabs – AgTech member companies. 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. 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 the Company's forward-looking statements, and risks and uncertainties to the Company's business in general, please refer to the Company'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, Vice President – Corporate Communications, (626) 788–5578, skabakoff@are.com

 

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SOURCE Alexandria Real Estate Equities, Inc.