NEW YORK, Feb. 27, 2017 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, today announced that Alexandria LaunchLabs® has selected a leading-edge group of life science startups as its first member companies. Alexandria LaunchLabs is New York City's first-in-class, highly affordable, full-service wet laboratory and office co-working space, which provides unique access to Alexandria's early-stage investment capital. Alexandria LaunchLabs' member companies will also have full access to Alexandria's world-class network and a highly amenitized campus, including a state-of-the-art conference, event and meeting space; two farm-to-table restaurants and a fully equipped fitness center.
In addition, Alexandria Venture Investments, its strategic venture capital arm and one of New York City's largest providers of early-stage life science venture capital, made its first New York City-based investment of 2017, leading the Series A financing for Applied Therapeutics Inc. Applied Therapeutics, a biotech company with technology licensed from Columbia University, is focused on developing transformative drugs in areas of high unmet medical need.
Alexandria LaunchLabs Selects First Member Companies for Unique Startup Platform
Located at the Alexandria Center® for Life Science, NYC's first and only premier life science campus, Alexandria LaunchLabs has accepted its first group of member companies and continues to review new applications. The Alexandria team evaluates each prospective member company based on the following criteria: differentiated technology, foundational intellectual property, compelling business strategy, strong management team and sound financing plan. The high level of interest from entrepreneurs and life science startups eager to join Alexandria LaunchLabs reflects the strong demand for Alexandria's full-service member offerings. As a critical component of Alexandria LaunchLabs, Alexandria will address a key unmet need to provide seed-stage investment capital to select member companies as well as other promising startups through its seed-funding mechanism.
"Alexandria has dedicated significant human and strategic risk capital to building the NYC life science cluster," said Jenna Foger, senior principal of science and technology at Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "Now, extending this commitment through Alexandria LaunchLabs, we will provide all of the resources necessary to catalyze the next generation of homegrown life science companies, which are critical to the evolution and success of the city's life science community."
Alexandria LaunchLabs will open its doors to member companies this spring, with a launch event in connection with the NYC Life Science Innovation Showcase. The showcase will be hosted at the Alexandria Center for Life Science on June 13, 2017, in partnership with the New York Academic Consortium.
Alexandria Venture Investments' First NYC-Based Investment of 2017 and Deep Commitment to Fostering Life Science Innovation in NYC
Alexandria Venture Investments has been instrumental in advancing the early-stage company landscape in NYC. As part of its continued support of life science companies in NYC, Alexandria Venture Investments made its first NYC-based investment of 2017 in Applied Therapeutics, a biotech company translating proprietary discoveries from Dr. Donald Landry's laboratory at Columbia University into new treatments for metabolic and cardiovascular diseases.
"We are thrilled to receive Alexandria Venture Investments' financial and strategic support as we develop new therapies to address key unmet medical needs in metabolic and cardiovascular diseases," said Shoshana Shendelman, Ph.D., founder, chief executive officer and chairman of the board of Applied Therapeutics. "Having recruited our core intellectual property and experienced management talent from the local community, we share Alexandria's commitment to retaining and cultivating homegrown companies here in NYC."
Dating back to 2002, Alexandria Venture Investments was an original investor in Intra-Cellular Therapies, Inc., one of NYC's first venture-backed companies and now a publicly traded, clinical-stage company based on novel discoveries from Nobel laureate Dr. Paul Greengard's laboratory at The Rockefeller University. Since 2014, Alexandria Venture Investments has invested in excess of $25 million in NYC-based early-stage life science companies, including Accelerator Corporation, Bridge Medicines, EpiBone, Kallyope Inc., Lodo Therapeutics Corporation, Lycera Corp., MeiraGTx, Petra Pharma Corporation, Rgenix, Inc. and TARA Biosystems, Inc.
Alexandria has been a leader in transforming NYC into a thriving life science cluster by bringing together NYC's world-renowned academic and medical institutions, top scientific and managerial talent and sophisticated capital. Alexandria's long-standing commitment to the NYC life science community, its proven investment track record, its underwriting expertise and its world-class network uniquely position the company to accelerate the life science cluster's next phase of significant growth.
About Alexandria LaunchLabs® at the Alexandria Center® for Life Science – New York City
Alexandria LaunchLabs is New York City's unique, full-service startup platform designed to satisfy a key unmet need for affordable space for early-stage life science companies in New York City. Located at the Alexandria Center for Life Science – New York City, Alexandria LaunchLabs provides move-in-ready laboratory/office space, first-class support resources, shared equipment and services, creative amenities and access to startup capital – all of which are critical for dramatically accelerating the growth of early-stage companies in New York City. To submit an application, please visit apply.launchlabsnyc.com.
- Affordable, shared wet laboratory and office spaces, for as low as $1,995 per month
- Full-service operations and management
- Shared laboratory equipment, conference, huddle and break rooms
- Comprehensive IT/AV package
- Open lounge and event spaces
- Café and breakout areas
- Access to Alexandria Center campus amenities and services
- Strategic programming and mentorship
- Connectivity with Alexandria's robust life science network
- Access to seed capital
About Alexandria Venture Investments
Alexandria Venture Investments is the strategic venture capital arm of Alexandria Real Estate Equities, Inc. (NYSE: ARE). Since 1996, Alexandria Venture Investments has provided strategic investment capital to the life science and technology industries. Alexandria Venture Investments focuses on novel, breakthrough discoveries in biopharmaceuticals, diagnostics, research tools, agtech, digital health and technology. Based on its experience and in-depth understanding of the life science and technology industries, its long-term relationships with leading investors and its world-class international scientific advisory network, Alexandria Venture Investments is uniquely positioned to fund early- and growth-stage companies.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE) is an urban office REIT uniquely focused on collaborative life science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $14.2 billion and an asset base in North America of 25.2 million square feet as of December 31, 2016. The asset base in North America includes 19.9 million RSF of operating properties and development and redevelopment of new Class A properties (under construction or pre-construction) and 5.3 million square feet of future ground-up development projects. Founded in 1994, Alexandria pioneered this niche and has since established a significant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle Park. Alexandria has a longstanding and proven track record of developing Class A properties clustered in urban life science and technology campuses that provide its 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. For more information, please visit www.are.com.
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SOURCE Alexandria Real Estate Equities, Inc.