Leases with Deep Genomics, Larkspur
Biosciences and Incendia Therapeutics Executed Upon Substantial
Construction Completion, Anchoring Breakthrough's East Cambridge
Waterfront Building
BOSTON, May 22, 2024
/PRNewswire/ -- Breakthrough Properties, a leading global
developer, owner, and operator of life sciences real estate, today
announced it has secured agreements with several mission-driven
biotech companies to occupy One Canal by Breakthrough, its
recently-redeveloped four-story lab and office building in
East Cambridge,
Massachusetts.
Prebuilt suites across two floors of the high-quality research
and development building were leased to Larkspur Biosciences,
Incendia Therapeutics and Deep Genomics and will be fully occupied
concurrent with construction completion. Construction on suites for
One Canal's two remaining floors is underway, with completion
slated for the first quarter of 2025.
One Canal encompasses 112,000 square feet of new lab and office
space within one of the world's top innovation ecosystems.
The building features flexible lab and office layouts, a ground
floor lounge, high quality fitness center, first and second floor
collaboration spaces, building concierge, a winter garden,
waterfront views of the canal and park, above-market parking ratio
and onsite retail options.
Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, acquired One
Canal in 2021 and has transformed it into a world-class life
science research center catering to biotech companies in the heart
of the bustling ecosystem of the East
Cambridge market.
"We are thrilled to welcome Incendia, Larkspur Biosciences and
Deep Genomics to the stunning new ecosystem we have cultivated at
One Canal," said Breakthrough Properties Chief Business Officer
Susie Harborth. "These
companies are at the forefront of next-generation technologies
including AI and machine learning, precision-oncology and RNA-based
therapies. We look forward to expanding this community of
innovative, impact-driven companies at our premier One Canal
site."
"We are excited to partner with Breakthrough in this next phase
of Larkspur's evolution," said Larkspur CEO Catherine Sabatos-Peyton. "One Canal is a
unique space as a state-of-the-art research building that blends
bright, open, modern spaces with purpose-built labs. Our team is
energized by the opportunity to work and grow in this space as we
concentrate on our mission to develop novel precision therapies for
patients with cancer."
"We are thrilled to be moving our operations into One Canal,"
said Incendia Therapeutics CEO Wendye
Robbins. "It has been a privilege to work with the
Breakthrough team to make this possible. They were flexible. They
recognized our critical needs and exceeded our expectations every
step of the way. We look forward to a successful partnership
together."
Situated along the First Street corridor which connects Kendall
Square MBTA Redline to the new Lechmere Green Line T station, One
Canal offers companies an unbeatable environment surrounded by an
amenity-rich neighborhood. It is located in close proximity
to Downtown Boston's diverse
residential, retail and dining options, and within walking distance
of multiple parks and open spaces, including direct access to the
Charles River. One Canal is also adjacent to the redeveloped
CambridgeSide Galleria and other neighbors include Sanofi and
Bristol Myers Squibb (BMS) innovation hub.
Tishman Speyer Managing Director Jessica
Hughes added, "Designed to take full advantage of its prime
location and limited local availability, One Canal has quickly
become a magnet for innovative companies that appreciate this rare
opportunity to secure ultra-modern lab space within a thriving
East Cambridge ecosystem."
Breakthrough remains one of the most active players in the life
science sector with more than five million square feet of projects
in the pipeline across the United
States and Europe. In Boston, Breakthrough developed,
owns and manages The 105 by Breakthrough at 105 West First
Street. Breakthrough is also currently developing two life
science buildings at the Harvard Enterprise Research Campus in
Allston and pursuing entitlements
for a modern lab and office environment to be located at 232 A
Street along the Fort Point Channel waterfront.
Breakthrough's ongoing commitment to sustainability involves a
particular emphasis on increasing energy efficiency, reducing
carbon emissions and providing healthy workspaces for users,
including by aiming for Fitwel and WELL certifications.
Breakthrough also targets LEED Gold certification at its
United States properties, as well
as BREEAM Outstanding certification in all of its projects across
the United Kingdom and EU
markets.
About Breakthrough Properties (www.btprop.com)
Formed
in 2019 as a joint venture between global real estate owner,
developer, and investor Tishman
Speyer and biotechnology investment firm Bellco Capital,
Breakthrough Properties is a life science real estate development
company that leverages cross-sector collaboration to deliver
environments that foster innovation and scientific breakthroughs.
Breakthrough Properties' mission is to acquire, develop and operate
the best life science properties in leading urban technology
centers around the world and support scientific innovation across
biotechnology, agriculture, and nutrition. Breakthrough combines
Tishman Speyer's decades of global
real estate development experience with Bellco Capital's
industry-making biotechnology entrepreneurship to reimagine
environments where companies can create life-changing therapies for
patients.
About Larkspur Biosciences
Larkspur Biosciences
is pioneering a new wave in cancer therapy that stops immune
evasion where it starts: in the tumor. Larkspur's approach targets
cancer-intrinsic factors that tumors use to escape immune detection
and control to develop new treatment options for patients who
cannot be helped by current therapies. The company is advancing
first-in-class programs designed to eliminate tumor "bottlenecks"
that drive immune evasion in colorectal cancer (CRC) and beyond.
LarkX, the company's proprietary bioinformatics platform, couples
machine learning with tumor genetics to discover immune evasion
pathways that originate in the tumor and enrich clinical strategies
for potential responders to its therapies across multiple types of
cancer. Larkspur's founders include Lewis
C. Cantley, PhD, professor of medicine at Dana-Farber Cancer
Institute, professor of cell biology at Harvard Medical School; Vijay K. Kuchroo, DVM, PhD, professor of
neurology at Harvard Medical School,
senior scientist at Brigham and
Women's Hospital; and Nathanael
Gray, PhD, professor of chemical and systems biology at
Stanford University.
About Incendia Therapeutics
Incendia
Therapeutics is discovering and developing a novel class of
experimental therapeutics that reprogram the tumor microenvironment
(TME). Incendia's platform is based on rigorous, groundbreaking
research involving spatial characterization of the tumor
microenvironment, multi-omics data integration, and extensive
preclinical testing. The Company's most advanced experimental
molecule, PRTH-101, is in a Phase 1 clinical trial
for the treatment of patients with advanced solid tumors.
About Deep Genomics
Deep Genomics is a
biopharmaceutical company that aims to revolutionize drug
development by leveraging expertise in artificial intelligence (AI)
to decode RNA biology. Our proprietary platform, the AI Workbench,
enables us to decode the enormous complexity of RNA biology to find
novel targets, mechanisms, and molecules that are not accessible
through traditional methods. We use this advanced technology to
develop steric-blocking oligonucleotides (SBOs) that achieve
expression increase for the treatment of genetic disease. Founded
in 2015, our multidisciplinary team includes expertise in a diverse
range of disciplines including those found in a traditional drug
company, as well as machine learning, laboratory automation, and
software engineering. Deep Genomics is located in Toronto, Ontario and Cambridge, Massachusetts.
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SOURCE Breakthrough Properties