Alexandria Real Estate Equities, Inc. Announces 15-Year Lease with ARIAD
Pharmaceuticals, Inc. for its Corporate and R&D Headquarters at the Alexandria
Center(TM) at Kendall Square
PASADENA, Calif., Jan. 7, 2013 /PRNewswire via COMTEX/ -- Alexandria Real Estate
Equities, Inc. (ARE), the leading owner, operator, and developer of high-quality,
sustainable real estate for the broad and diverse life science industry, is
pleased to announce that ARIAD Pharmaceuticals, Inc., a leading, fully integrated
oncology company, will establish its state-of-the-art corporate and research and
development headquarters at the Alexandria Center(TM) at Kendall Square in
Cambridge, Massachusetts. ARIAD has executed a 15-year lease with an affiliate of
Alexandria for approximately 244,000 rentable square feet, or 63%, of 75/125
Binney Street, an approximately 386,000 rentable square foot life science
facility, with additional potential expansion opportunities through June 30,
2014. ARIAD's decision to locate its headquarters at 75/125 Binney Street affirms
the Alexandria Center at Kendall Square's reputation as one of the world's most
desirable locations for life science innovation and collaboration.
75/125 Binney Street will facilitate ARIAD's continued discovery, development and
commercialization activities in the oncology field. ARIAD's approximately 20-year
track record of scientific excellence is based on the company's computational
structure-based drug design platform, which has led to several internally
discovered, molecularly targeted product candidates for drug-resistant or
difficult-to-treat cancers. On December 14, 2012, ARIAD announced that the United
States Food and Drug Administration (FDA) approved its drug, Iclusig(TM)
(ponatinib), three months ahead of the action date under the FDA's accelerated
approval program. Iclusig was approved for the treatment of adult patients with
chronic, accelerated, or blast phase chronic myeloid leukemia (CML) that is
resistant or intolerant to prior tyrosine kinase inhibitor (TKI) therapy or
Philadelphia chromosome-positive acute lymphoblastic leukemia (Ph+ ALL) that is
resistant or intolerant to prior TKI therapy.
