Alexandria Real Estate Equities, Inc. Achieves the World's First WELL Health-Safety Rating for Laboratory Space at Alexandria LaunchLabs in New York City

Rhea-AI Summary

Alexandria Real Estate Equities (NYSE: ARE) announced that its Alexandria LaunchLabs in New York City is the first laboratory space globally to earn the WELL Health-Safety Rating. This recognition builds on previous WELL Certification achievements aimed at enhancing human health through superior building practices. Alexandria LaunchLabs, operational since 2017, supports over 20 life science startups and has collectively raised over $300 million. The facility's initiatives prioritize tenant health, especially amidst the COVID-19 pandemic, reinforcing Alexandria's commitment to fostering innovation in the life sciences sector.

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• Achieved the world's first WELL Health-Safety Rating for laboratory space.
• Supports over 20 life science startups, which have raised over $300 million.
• Strengthened initiatives to enhance tenant health and safety during COVID-19.

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• None.

PASADENA, Calif., Nov. 16, 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 that Alexandria LaunchLabs^® at the Alexandria Center^® for Life Science in New York City is the first laboratory space in the world to achieve the WELL Health-Safety Rating for Facility Operations and Management. Building on its prior recognition as the world's first laboratory space to receive a WELL Certification for excellence in improving human health and well-being through building design, this latest evidence-based, third-party verified rating for the flagship location of Alexandria LaunchLabs—the premier startup platform accelerating the growth of early-stage life science companies—further affirms Alexandria's longstanding, robust and meticulous initiatives to help keep its tenants, employees, visitors, service providers and key industry stakeholders healthy and safe.

Alexandria earned the world's first laboratory WELL Health-Safety Rating for Alexandria LaunchLabs – NYC by implementing and enhancing green practices for cleaning, disinfecting and maintenance programs; further improving air filtration; adopting a policy for face coverings; promoting and providing access to flu shots in collaboration with Mount Sinai; employing informational health and safety graphics; and continuing to provide exceptional health and wellness support for the benefit of its member companies. Launched in June 2020 by the International WELL Building Institute, the WELL Health-Safety Rating focuses on operational practices, emergency preparedness programs, health service resources, air and water quality management, and stakeholder engagement and communications and is informed by guidance from national and global public health agencies such as the World Health Organization and the U.S. Centers for Disease Control Prevention, as well as other recognized standard-making bodies such as ASTM International and ASHRAE. Adherence to these organizations' latest guidelines for best practices, safe materials and optimal ventilation systems is an integral part of Alexandria's initiatives to reinforce its LaunchLabs member companies' confidence in the workplace and to improve employee productivity and wellness.

"During the ongoing COVID-19 pandemic and beyond, it is our highest priority to uphold our demonstrated track record in promoting the health, wellness and safety of our tenants and LaunchLabs member companies to enable them to continue their mission-critical work," said Whitney Snider, MD, MBA, principal of science and technology and head of Alexandria LaunchLabs – NYC at Alexandria Real Estate Equities, Inc./Alexandria Venture Investments and member of Alexandria's COVID-19 Task Force. "We are honored to achieve the scientifically backed WELL Health-Safety Rating in recognition of our dedication and excellence in mitigating the spread of COVID-19 at Alexandria LaunchLabs in New York City as we continue to deepen our leadership in the city's life science ecosystem. We remain heavily focused on nurturing startups spinning out from the city's world-renowned academic and medical institutions, and early next year, in partnership with Columbia University, we will open our second NYC LaunchLabs on its Medical Center campus."

Since it opened in 2017, the original Alexandria LaunchLabs has been fully integrated into the dynamic campus ecosystem of New York City's first and only commercial life science campus, the Alexandria Center for Life Science, which comprises 728,000 RSF of uniquely designed and highly amenitized space for early, growth-stage and multinational pharmaceutical companies. Alexandria LaunchLabs provides its more than 20 cutting-edge life science startup member companies with highly flexible, turnkey office and laboratory space, first-class support resources, state-of-the-art shared equipment and services, engagement with Alexandria's world-class network and access to strategic investment capital through the Alexandria Seed Capital Platform. This new WELL Health-Safety Rating acknowledges the company's uninterrupted operations during the pandemic, which have enabled LaunchLabs member companies to continue their tireless efforts to improve the future of drug discovery and human health across key areas of unmet need, including COVID-19, neurodegeneration, oncology, rare diseases and inflammatory conditions. To date, Alexandria LaunchLabs – NYC member companies have collectively raised more than $300 million in financing and two of its companies have completed initial public offerings.

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 $29.2 billion as of September 30, 2020, and an asset base in North America of 47.4 million SF. The asset base in North America includes 31.2 million RSF of operating properties and 2.8 million RSF of Class A properties undergoing construction, 7.2 million RSF of near-term and intermediate-term development and redevelopment projects and 6.2 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 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 impacts of the WELL Health-Safety Rating on Alexandria's business, strategies and operations, the potential impacts of the COVID-19 pandemic and related uncertainties we, our tenants and the global and national economies face as a result, and the prospects for success of any COVID-19 prevention strategy. 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 – Communications, (626) 788–5578, skabakoff@are.com

 

 

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SOURCE Alexandria Real Estate Equities, Inc.

FAQ

What is the significance of the WELL Health-Safety Rating for ARE?

The WELL Health-Safety Rating signifies Alexandria LaunchLabs' commitment to maintaining high health and safety standards, especially during the COVID-19 pandemic.

How many startups are supported by Alexandria LaunchLabs?

Alexandria LaunchLabs currently supports over 20 life science startup member companies.

What is the total financing raised by Alexandria LaunchLabs member companies?

Member companies of Alexandria LaunchLabs have collectively raised over $300 million in financing.

When was Alexandria LaunchLabs opened?

Alexandria LaunchLabs opened in 2017 and has since integrated into New York City's life science campus.

What future plans does Alexandria have for their LaunchLabs in NYC?

Alexandria plans to open a second LaunchLab in partnership with Columbia University on its Medical Center campus in early 2021.