BioMed Realty Signs New Lease With GlycoMimetics At Its Newly Redeveloped Center For Life Science | Shady Grove Campus In Rockville, Maryland Biotechnology Company Leases 33,800 SF Following Its Successful IPO in January
ROCKVILLE, Md., Aug. 26, 2014 /PRNewswire/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced the signing of a new lease with GlycoMimetics, Inc. (NASDAQ: GLYC) for one building comprising approximately 33,800 square feet at the Center for Life Science | Shady Grove in Rockville, Maryland. GlycoMimetics is a clinical-stage biotechnology company focused on the discovery and development of drugs to treat diseases based on an understanding of the role of carbohydrates in important biological processes, and the building at 9708 Medical Center Drive will serve as its new corporate headquarters. GlycoMimetics completed its initial public offering in January 2014 and has signed a partnership with Pfizer for a treatment for sickle cell disease which is about to begin Phase 3 trials.
GlycoMimetics will be moving to the Center for Life Science | Shady Grove, a four building campus with approximately 214,700 square feet or laboratory and office space. The campus is located along the I-270 Corridor in Montgomery County, also known as "DNA Alley," which supports several large-scale federal government health agencies, including the Food and Drug Administration, the National Institutes of Health, the Department of Homeland Security and the National Cancer Institute. The area is also home to several world-renowned universities and research institutes, including Johns Hopkins University, the University of Maryland and the Howard Hughes Medical Institute.
"We are pleased to be relocating and expanding our research and development capabilities at the newly redeveloped Center for Life Science | Shady Grove with our new real estate partner, BioMed Realty," said Rachel K. King, Chief Executive Officer of GlycoMimetics. "The campus is ideally located for us in the hub of life science innovation in Montgomery County. BioMed Realty's transformation of the site with leading-edge, adaptive and efficient laboratory and office spaces will support the research and development of our robust, diversified pipeline now and as we continue to grow in the future."
Kent Griffin, President of BioMed Realty, remarked, "We welcome GlycoMimetics to the Center for Life Science | Shady Grove and are honored that they chose BioMed Realty to provide the mission-critical real estate to advance their research and clinical candidates to fight sickle cell disease, cancer and infections. Their ongoing scientific advancements and recent success in capital raising, with their recent IPO and partnering with a global pharmaceutical leader like Pfizer, illustrate the extraordinary health of the life science industry in Maryland and throughout centers of innovation across the U.S."
BioMed Realty acquired the four buildings which now comprise the Center for Life Science | Shady Grove in May 2010 and commenced redeveloping three of the buildings in mid-2011, which was completed in early 2013. As part of the redevelopment effort, the campus now features a shared board room, a large, multi-purpose meeting area and a fully-equipped fitness center.
About BioMed Realty Trust
BioMed Realty, with its trusted expertise and valuable relationships, delivers optimal real estate solutions for biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty owns or has interests in properties comprising approximately 17.2 million rentable square feet. Additional information is available at www.biomedrealty.com. Follow us on Twitter @biomedrealty.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: adverse economic or real estate developments in the life science industry or the company's target markets, including with respect to the Center for Life Science | Shady Grove in Rockville, Maryland; and general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate). For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE BioMed Realty Trust, Inc.