PASADENA, Calif. and RESEARCH TRIANGLE PARK, N.C., Nov. 24, 2015 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the largest and leading urban office REIT uniquely focused on collaborative science and technology campuses, today outlined the first phase of several exciting new initiatives in the heart of Research Triangle Park (RTP), N.C., to foster science, technology and agricultural collaboration and innovation in this important cluster. These innovation-focused initiatives include the amenity-rich Alexandria Center® for Science, Technology and Agriculture – RTP ("Alexandria Campus"), a first-of-its-kind campus in the RTP area, located at 6 Davis Drive, which will capitalize on RTP's heritage of and potential for continued discovery, collaboration and commercialization of transformational products to better humankind. The Alexandria Campus fills an important need in RTP for critical infrastructure, sophisticated investment capital and creative amenities while creating a vibrant community anchored by a hub for the intersection of science, technology and agriculture.
Alexandria Center for Science, Technology and Agriculture – RTP
Alexandria was founded on the belief that innovative companies are most successful when located in the epicenter of the world's top clusters, in close proximity to world-renowned academic institutions, cutting-edge scientific and managerial talent and sophisticated risk capital. The unique services and inspiring spaces of the Alexandria Campus will provide tenants with a dynamic ecosystem to accelerate discovery and commercialization. The Alexandria Campus, over time, will consist of more than one million rentable square feet.
Strategic Partnership with MedBlue Incubator and Duke University
Alexandria Venture Investments, the strategic venture capital arm of Alexandria Real Estate Equities, Inc., intends to invest in MedBlue Incubator, Inc. MedBlue was founded in 2013 to help identify promising new science and technology from the departments of Surgery, Pathology and Anesthesiology at the Duke University Medical Center, around which cutting-edge new companies may be formed to create breakthrough products for patients and bring value to the University. MedBlue has already invested in four companies centered on advancements originating from the member Duke University departments. MedBlue's relationship with Duke University serves as an extremely important platform and connection to the impactful and transformative discoveries being made at Duke. The investment in MedBlue, its partnership with Duke and MedBlue's presence on the Alexandria Campus will further enhance and grow the local innovation ecosystem in RTP.
"Duke University is an exceptional place for biomedical innovation and discovery," commented Allan Kirk, M.D., Ph.D., chairman of the Department of Surgery at Duke University School of Medicine and surgeon-in-chief of the Duke University Health System. "Many of our outstanding faculty are also exceptionally creative inventors, and it is this quality that allows Duke physicians to care not only for today's patients, but also for patients of the future. MedBlue was formed to provide strategic support for Duke University faculty inventors, providing targeted investment in novel biomedical innovations. Today's announced support of MedBlue continues its growth, and ensures that the great ideas arising daily at Duke University will be nurtured, and turned into products and services that will directly help patients."
Barry Myers, M.D., Ph.D., professor and managing director, Duke Office of Licensing and Ventures, said, "Alexandria's long-term commitment to and leadership in supporting key drivers of innovation like MedBlue is critical to the success of the region as an entrepreneurial hub, and we are delighted to be partnering with them in this way."
Alexandria is also opening Alexandria LaunchLabs, a unique real estate and startup ecosystem concept, on the Alexandria Campus. The successful Alexandria LaunchLabs concept was originally created in Maryland by a consortium of world-class partners to fill a specific unmet need in the market for emerging-stage companies. RTP has a large unmet need for small, flexible office and laboratory suites that also provide support services for emerging-stage companies. Alexandria Venture Investments and Accelerator Corporation, a biotechnology investment and management company, plan to establish a venture investment and technology scouting presence within Alexandria LaunchLabs in RTP. Alexandria LaunchLabs adds specialized office and laboratory space, increased access to first-class support resources, shared scientific equipment and services and immediately available capital, all of which are critical for dramatically accelerating the growth of local emerging-stage companies in the RTP area.
"We are delighted to collaborate with MedBlue and Duke as part of this first phase of our plans for expanding and supporting the important, transformative science, technology and agricultural innovation in RTP," stated Joel Marcus, founder, chief executive officer and chairman of Alexandria Real Estate Equities, Inc. "The Triangle has a long history of launching exceptional companies in these sectors, and our rich history of creating and growing premier clusters make this effort highly synergistic. We are excited to bring Alexandria LaunchLabs to RTP to fill an unmet need for access to more resources for emerging-stage companies. Additionally,
co-location with other emerging-stage companies – MedBlue, Alexandria Venture Investments and Accelerator Corporation – will provide a collaborative ecosystem in which tenants will be able to further assist one another in identifying resources and sharing best practices. With RTP's excellent academic and medical institutions, venture capital support and entrepreneurial ideas, these initiatives are only the beginning of the opportunities to further facilitate and support life-changing innovation in this important cluster."
Alexandria LaunchLabs will become home to successful startups, including the former Phoundry Pharmaceuticals, Inc., which was acquired by Intarcia Therapeutics, Inc. in September 2015. Founded in 2015, after six years of work as part of GlaxoSmithKline's Enteroendocrine Discovery Performance Unit , Phoundry Pharmaceuticals created a portfolio of optimized peptides in various therapeutic categories, most notably diabetes and obesity, which attracted the acquisition by Intarcia.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE) is the largest and leading urban office REIT uniquely focused on collaborative science and technology campuses in AAA innovation cluster locations with a total market capitalization of $10.8 billion as of September 30, 2015, and an asset base of 31.5 million square feet, including 19.9 million RSF of operating properties and development and redevelopment projects under construction, as well as an additional 11.6 million square feet of near-term and future ground-up development projects. Alexandria pioneered this niche in 1994 and has since established a dominant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle Park. Alexandria is known for its high-quality and diverse tenant base, with approximately 53% of total annualized base rent as of September 30, 2015, generated from investment-grade tenants – a REIT industry-leading percentage. Alexandria has a longstanding and proven track record of developing Class A assets clustered in urban 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.
SOURCE Alexandria Real Estate Equities, Inc.