MRA Group Signs First Long-Term Lease at Chestnut Run Innovation & Science Park in Wilmington, Delaware

WILMINGTON, Del., Dec. 21, 2021 /PRNewswire/ -- MRA Group (MRA) announced today that on November 30, 2021 it signed the first long-term lease for research and laboratory facilities at Chestnut Run Innovation & Science Park (CRISP), MRA's recently announced life science and manufacturing campus in Wilmington, DE.

Prelude Therapeutics Incorporated (Prelude Therapeutics) is the first major tenant at CRISP, aside from DuPont who is currently leasing approximately 190,000 square feet of space on the campus. However, according to Mike Wojewodka, MRA Group Executive Vice President and Partner, "Activity has been brisk, with a significant pipeline of prospects looking at the various options on the campus."

"MRA's acquisition of a significant portion of the Chestnut Run property is great news for Delaware and the state's role in an ever-expanding life sciences sector," said Kurt Foreman, President & CEO of Delaware Prosperity Partnership. "We can think of no better location for an innovation park than the place that includes the DuPont Company's global headquarters. DuPont began Delaware's tradition in breakthrough innovation and now with MRA's acquisition that tradition will continue raising the bar for transformative developments created through scientific research."

"Since our founding in 2016, Prelude Therapeutics has proudly contributed to the growth of an evolving biotech hub in the Wilmington area," said Kris Vaddi, PhD, Chief Executive Officer. "We believe our planned state-of-the-art office and lab space, and centrality to a life sciences campus, will enable us to continue attracting top-tier, diverse talent to our exceptional team. We look forward to establishing our new headquarters in Chestnut Run as we continue to advance our pipeline of potentially transformative medicines for people living with underserved cancers.  We thank the State of Delaware for its ongoing investment in building an entrepreneurial and connected business community."

"This is great news," stated Delaware BioScience Association President Michael Fleming. "Prelude Therapeutics' decision to make their new long-term home at CRISP underlines the significant momentum and opportunity in the Delaware life sciences sector. Prelude's new, expanded presence in that exciting site will undoubtedly be a magnet for more innovative science companies there and in other great locations our state offers. Most importantly, we should remember this significant investment and the new jobs it has the potential to create is all focused on the hard but noble work of developing breakthrough therapies for patients with some of the most difficult and deadly cancers, and for that we should be grateful.  We look forward to continuing to partner with the MRA Group to ensure CRISP flourishes as a thriving hub of scientific investment."

"This is how we win the future," said New Castle County Executive Matt Meyer. "A homegrown, innovative advanced sciences startup is choosing to stay home, thanks to the investment of MRA Group and the collaborative efforts of state and county governments and the Delaware Prosperity Partnership."

The construction of Prelude Therapeutics' new headquarters is included in the initial phase of MRA's $500M redevelopment plans for the campus. Other plans include creating additional R&D laboratories, and advanced manufacturing space, as well as campus amenities such as a hotel, a fitness center, conference space, an outdoor amphitheater, and accommodations for food services including restaurants and eateries. More information regarding CRISP can be found on the campus website at www.crisp-campus.net

About MRA Group

MRA Group (MRA), based in Horsham, PA, is a privately held, multi-disciplined real estate development and solutions firm servicing the life sciences, health care and higher education sectors. Founded in 1991 by president and CEO Lawrence J. Stuardi, MRA prides itself on maintaining the same high level of integrity and excellence that has led to its recognition as one of the most respected real estate firms in the mid-Atlantic region. With over 30 years as a successful real estate development company, MRA has proven itself to be a premier provider of real estate solutions for many of the largest institutions in the region. With services varying from development to advisory and management services, MRA has more than 4.5M square feet of medical, life sciences and office real estate under management, and has structured over $1B of financing. A few notable development projects include Spring House Innovation Park, the Holy Redeemer Medical Building at 201 Veterans Way, Pennovation Lab at University of Pennsylvania's Pennovation Works Campus, TEK Park, Oxford Valley Medical Plaza and the St. Clair Medical Office Building at St. Mary Medical Center. Learn more at www.mragroup.net.

About Prelude Therapeutics

Prelude Therapeutics is a clinical-stage precision oncology company developing innovative, potential best-in-class molecules targeting critical cancer cell pathways involved in cancer pathogenesis. Prelude's initial clinical candidates, PRT543 and PRT811, are potent, selective, oral PRMT5 inhibitors in Phase 1 development for the treatment of advanced solid tumors, primary and secondary CNS cancers and select myeloid malignancies. PRT1419, a potent and selective MCL1 inhibitor, is in Phase 1 development for patients with relapsed/refractory hematologic malignancies and solid tumors. PRT2527, a highly selective CDK9 inhibitor, is anticipated to begin Phase 1 clinical development by year-end as a monotherapy in patients with selected solid tumors. In addition, the Company's pipeline includes PRT-SCA2, a SMARCA2 protein degrader, PRT-K4, a highly selective kinase inhibitor, and additional discovery stage programs.

CONTACT: Brendan Farrell, (215)449-2442, [email protected]

SOURCE MRA Group

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