Biogen Announces Plans for New Global Headquarters and Innovation Hub in Kendall Square

Rhea-AI Summary

Biogen (BIIB) has announced plans for a new global headquarters at Kendall Common in Cambridge, Massachusetts, signing a 15-year lease for approximately 580,000-square-feet of office and research space. The state-of-the-art facility, scheduled to open in 2028 coinciding with Biogen's 50th anniversary, will serve as an innovation hub integrating research, development, technical operations, and commercial teams.

The company will be the sole corporate tenant in the building, which is being developed through a joint venture between MIT Investment Management Company and BioMed Realty. The facility will feature modern laboratories, upgraded workspaces, sustainable design elements, and the Biogen CoLab - a community laboratory space for collaboration with nonprofits, schools, and universities.

Positive

• Consolidation of operations will improve operational efficiency and foster collaboration
• Strategic location in Kendall Square enhances access to talent and research partnerships
• Long-term 15-year lease commitment demonstrates stability and growth planning
• Sole corporate tenant status allows for customized facility optimization

Negative

• Significant real estate commitment may increase fixed costs
• Potential disruption during relocation process in 2028
• Long-term lease creates reduced flexibility in future space planning

• Biogen signs lease for Kendall Common as part of multi-year real estate optimization plan to modernize its facilities and consolidate its Massachusetts real estate footprint
• New building will be designed to foster collaboration and spark innovation; Biogen plans to relocate Cambridge-based employees to the new site in 2028

CAMBRIDGE, Mass., March 24, 2025 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) announced plans for its new global headquarters at Kendall Common, located at 75 Broadway in Cambridge, as part of a multi-year real estate consolidation plan in Massachusetts. The move centralizes Biogen’s presence in Kendall Square, integrating Biogen’s research and development and technical operations teams alongside its global and North American commercial organizations into a co-located innovation hub. Scheduled to open when Biogen celebrates its 50^th anniversary in 2028, the new state-of-the-art facility will commemorate five decades of excellence in scientific discovery, clinical development, and delivering innovative new treatments.

“Nearly 50 years after first putting down roots in Kendall Square, Biogen is embarking on a new chapter in the very heart of the community that has shaped our success,” said Christopher A. Viehbacher, President and Chief Executive Officer at Biogen. “Our new space will support the advancement of our pipeline of breakthrough medicines by bringing our employees together and fostering collaboration with leading scientific minds, key partners, and top talent.”

“Biogen has been a foundational presence in the Massachusetts life science ecosystem for close to half a century, and we are thrilled to see them begin a new era in our state,” said Maura Healey, Governor of Massachusetts. “This milestone is an example of why Massachusetts remains the center for long-term growth and opportunity in the life sciences. Our administration continues to make investments in the sector in order to help create more companies and jobs that lead to innovative new treatments for patients.”

“It’s fitting that Biogen — a company with such close ties to people at MIT — will make Kendall Common’s first building its new home,” said Sally Kornbluth, President of MIT. “The motto of Kendall Square might as well be 'talent in proximity' and Biogen's decision to intensify its presence here promises great things for the whole ecosystem. To achieve this milestone on the occasion of the company’s 50th anniversary is especially meaningful. We are grateful to Chris Viehbacher, president and chief executive officer of Biogen, for his keen vision of the future and his ongoing commitment to Cambridge and Kendall Square.”

“Massachusetts is the global leader in biotechnology because Biogen pioneered a scientific revolution decades ago. The decision by Biogen today to develop a new hub here goes to the very core of what makes this ecosystem great: collaboration, talent, and institutions,” said Kendalle Burlin O’Connell, Chief Executive Officer & President of MassBio. “This is the place patients around the world look to for lifesaving medicines and with this new facility, Biogen is breaking ground on the future of biomedical innovation and solidifying the Commonwealth’s dominance in healthcare.”

Biogen has signed a 15-year lease for approximately 580,000-square-feet of office and research and development space as part of the Kendall Common development project. The lease agreement is with a new joint venture partnership between MIT Investment Management Company (MITIMCo) and BioMed Realty, a Blackstone Real Estate portfolio company, that is developing the new building.

Biogen plans to be the sole corporate tenant in the building, allowing the company to optimize its real estate footprint in Cambridge and create a purpose-built innovation hub designed to foster increased collaboration among employees and external partners. This state-of-the-art facility will feature laboratories of the future, upgraded workspaces, and modern amenities, along with sustainable design elements such as advanced water conservation measures and energy-efficient systems.

In addition, the building will house the Biogen CoLab. The Biogen CoLab is a classroom-style community laboratory and collaborative space where Biogen scientists, nonprofits and schools and universities come together to help students and career-ready adults discover and prepare for careers in life science and healthcare. The Biogen CoLab is intended to serve not only as a gateway to Biogen, but as a central engine of talent generation and dynamic co-creation.

Biogen’s history in the region can be traced back to the early 1980s when it established its research facility and headquarters in Kendall Square. Cambridge will remain the global headquarters of Biogen, and the company is pleased to be an integral part of the Kendall Square community admired around the world for innovation and creativity, especially in the life sciences.

About Biogen
Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patients’ lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.

We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Facebook, LinkedIn, X, YouTube.

Biogen Safe Harbor 
This news release contains forward-looking statements, including about the anticipated benefits of the new headquarters, the potential of Biogen's commercial business and pipeline programs; and risks and uncertainties associated with drug development and commercialization. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “goal,” “guidance,” “hope,” “intend,” “may,” “objective,” “plan,” “possible,” “potential,” “predict,” “project,” “prospect,” “should,” “target,” “will,” “would,” and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. Given their forward-looking nature, these statements involve substantial risks and uncertainties that may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements. These forward-looking statements are based on management's current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part. We caution that these statements are subject to risks and uncertainties, many of which are outside of our control and could cause future events or results to be materially different from those stated or implied in this document, including, among others, uncertainty of long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; expectations, plans and prospects relating to product approvals, approvals of additional indications for our existing products, sales, pricing, growth, reimbursement and launch of our marketed and pipeline products; our ability to effectively implement our corporate strategy; the successful execution of our strategic and growth initiatives, including acquisitions; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission.

These statements speak only as of the date of this press release and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and in our subsequent reports on Form 10-Q and Form 10-K, in each case including in the sections thereof captioned “Note Regarding Forward-Looking Statements” and “Item 1A. Risk Factors,” and in our subsequent reports on Form 8-K. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.

MEDIA CONTACT: Biogen Jack Cox +1 781 464 3260 public.affairs@biogen.com

INVESTOR CONTACT: Biogen Tim Power +1 781 464 2442 IR@biogen.com

FAQ

When will Biogen (BIIB) move to its new Kendall Square headquarters?

Biogen plans to relocate Cambridge-based employees to the new Kendall Common headquarters in 2028, coinciding with the company's 50th anniversary.

How large is Biogen's (BIIB) new headquarters lease at Kendall Common?

Biogen has signed a 15-year lease for approximately 580,000-square-feet of office and research and development space.

What features will Biogen's (BIIB) new Kendall Square facility include?

The facility will include laboratories of the future, upgraded workspaces, modern amenities, sustainable design elements, and the Biogen CoLab community laboratory.

Who are the development partners for Biogen's (BIIB) new headquarters project?

The building is being developed through a joint venture between MIT Investment Management Company (MITIMCo) and BioMed Realty, a Blackstone Real Estate portfolio company.