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.
"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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