Alexandria Real Estate Equities, Inc. Celebrates the Grand Opening of Alexandria LaunchLabs at Columbia to Accelerate the Commercialization of Novel Translational Science to Meet Significant Unmet Medical Needs
At the Vanguard and Heart of the Life Science Ecosystem™
NEW YORK, June 22, 2022 /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, agtech and technology campuses in AAA innovation cluster locations, today celebrates the grand opening of Alexandria LaunchLabs® at Columbia, which was created in a strategic collaboration with Columbia University. As the company's second LaunchLabs site in New York City, Alexandria LaunchLabs at Columbia builds upon the success of the flagship LaunchLabs site at the Alexandria Center® for Life Science – New York City, which reached its fifth anniversary this month. The grand opening event marks an important milestone for the unique and leading life science startup platform purpose-built to accelerate innovation and growth for promising early-stage companies. With over 10,000 diseases known to humankind and less than 10% currently addressable with therapies, Alexandria LaunchLabs at Columbia is playing an essential role in catalyzing the translation of scientific research emerging from Columbia University and other leading NYC academic and medical research institutions into treatments and cures to help meet humanity's massive unmet medical need and alleviate patient suffering.
"For years, there has been an explosion of new startup creation emerging from Columbia's research labs (over 25 new startups per year), as well as from the labs of our fellow NYC research institutions," said Orin Herskowitz, executive director of Columbia Technology Ventures. "The integration of the Alexandria LaunchLabs platform into Columbia's campus provides a further boost to the NYC entrepreneurial ecosystem, Columbia's startups, other New York City startups and the city overall. We couldn't be more pleased to have the Alexandria LaunchLabs platform on campus."
Alexandria led the pioneering effort to create the NYC commercial life science cluster through the development of the Alexandria Center for Life Science, the city's first and only commercial life science campus. Since opening this flagship campus in 2010, Alexandria has successfully led, catalyzed and nurtured a collaborative ecosystem that coalesces translational innovation, leading scientific and managerial talent and sophisticated capital with world-renowned academic and medical institutions to drive the discovery, development and commercialization of groundbreaking therapies and cures that can extend, improve and save patients' lives. Leveraging its position as a key leader and collaborator in the life science ecosystem, the company has profoundly contributed to the success of many of the city's most promising life science companies. Intra-Cellular Therapies, which has received FDA approval for the treatment of bipolar depression and schizophrenia in adults, is a tremendous example of an Alexandria tenant that has taken scientific insights from the bench and successfully translated them to enable the delivery of novel medicines to patients around the world suffering from these intractable central nervous system disorders.
"We are immensely proud to be a leader and first mover in the catalyzation, growth and evolution of the New York City commercial life science ecosystem and cluster, where we have amplified the value of our mission-critical laboratory real estate through our strategic venture activity and guidance, thought leadership and ecosystem-building programs, as well as our innovative proprietary offerings such as LaunchLabs," said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "Embedding our proven LaunchLabs platform at Columbia is crucial to advancing transformative medicines for the benefit of society, and we are honored to expand our longstanding relationship with Columbia, an exceptional institution that has made rich contributions to human health, in this mission-critical and meaningful endeavor."
"As LaunchLabs celebrates one year of operations at Columbia, we have diligently curated a stellar group of member companies from across the local ecosystem that are utilizing novel therapeutic and diagnostic platforms to address a broad range of diseases, including difficult-to-treat cancers, neurodegenerative diseases and autoimmune disorders, as well as metabolic and rare genetic diseases," said Michael Norsen, principal of science and technology at Alexandria Venture Investments and head of Alexandria LaunchLabs at Columbia for Alexandria Real Estate Equities, Inc. "The opportunity to strategically expand our LaunchLabs platform in collaboration with Columbia enhances our ability to bolster life science entrepreneurship, nurture the city's most promising biotech startups and continue to attract and retain top talent within the local NYC ecosystem."
In addition to its grand opening event at the Alexandria LaunchLabs at Columbia, today Alexandria is convening its annual New York City Life Science Innovation Showcase at the Alexandria Center for Life Science – NYC. This showcase celebrates a curated group of preeminent life science entrepreneurs and startups from NYC's top academic and medical research institutions. The program will include rapid-fire company pitches interspersed with panel discussions featuring some of the city's most notable founders, executives and venture investors, all with the common goal of accelerating the translation of novel discoveries into biomedical realities to address many of the most challenging diseases known to humankind.
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, agtech and technology campuses in AAA innovation cluster locations, with an asset base in North America of 74.2 million SF as of March 31, 2022. The asset base in North America includes 41.9 million RSF of operating properties and 5.4 million RSF of Class A properties undergoing construction, 10.4 million RSF of near-term and intermediate-term development and redevelopment projects and 16.5 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, the San Francisco Bay Area, 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, agtech and technology 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, agtech 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 additional information on Alexandria, please visit www.are.com.
About Alexandria LaunchLabs
Alexandria LaunchLabs, created by the pioneer of mission-critical Labspace® real estate, is the premier life science startup platform purpose-built to accelerate the growth of transformative early-stage companies, empowering the advancement of groundbreaking discoveries within Alexandria's thriving life science ecosystems in New York City, Cambridge, Research Triangle, Seattle and Stanford Research Park. Alexandria LaunchLabs is unmatched in equipping early-stage life science companies with dedicated laboratory/office space and core equipment, vital operational services, curated introductions to our preeminent network, access to capital through Alexandria Venture Investments and the Alexandria Seed Capital Platform and expert support from our best-in-class teams — all developed to provide our curated community of member companies with a scalable path for growth. Alexandria LaunchLabs is currently accepting applications for all locations. For more information, please visit www.alexandrialaunchlabs.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 Alexandria LaunchLabs at Columbia University on Alexandria's and its tenants' business, continued growth, goals and ability to recruit and retain talent as well as the impact on the broader life science industry. These forward-looking statements are based on the company'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 the company'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 the company 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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