Ribon Therapeutics has leased 26,989 SF of office and laboratory space and will relocate to the Alewife Research Center in Cambridge from Lexington
CAMBRIDGE, MA (July 31, 2018) — The Davis Companies announced today that it has leased approximately 27,000 SF at its newly developed Alewife Research Center (ARC) in Cambridge, MA to Ribon Therapeutics Inc., a biotechnology company pioneering the development of new cancer medicines. Ribon is relocating from its existing headquarters in Lexington,, MA. The fast growing company is backed by a consortium of leading venture capital firms, including The Column Group, Deerfield Management and US Ventures. Earlier this month, Japanese pharmaceutical company, Eisai Inc., leased 48,700 square feet of office and laboratory space at the ARC for its Center for Genetics Guided Dementia Discovery.
Developed by The Davis Companies, Alewife Research Center is a 224,000-square-foot Class-A LEED Silver Certified laboratory building with ground-floor retail. The transit-oriented, five-story facility is located next to Alewife Station, just minutes from both Kendall Square and Harvard Square via the Red Line and readily accessible from the MetroWest suburbs via Route 2. This convenient location also offers tenants ample parking with its 331 parking spaces, providing a ratio of 1.5 / 1,000 SF. The ARC is scheduled for completion by October 2018.
“After attracting an international pharmaceutical conglomerate such as Eisai, we are excited to now welcome Ribon Therapeutics at the Alewife Research Center,” said Brian Fallon, President of TDC Development Group. “With almost zero percent laboratory vacancy in Cambridge’s core life sciences hub, we are seeing great demand for space at the ARC. There is a clear shift of life sciences tenants moving from Kendall Square and East Cambridge more broadly to West Cambridge.”
The Alewife area is emerging as a leading life science cluster in New England, as companies pursue expansion opportunities outside the traditional Kendall Square area in East Cambridge.
“The ARC gives life science companies great access to talent, as well as the proximity and flexibility to foster collaboration with research institutes and strategic partners,” added Mr. Fallon.
Alewife Research Center provides ample space for growing companies seeking modern, new construction with an on-site parking garage and convenient amenities. The ARC features a grand lobby with a two-story atrium and gathering spaces; highly flexible laboratory and R&D space; an employee lounge; conference meeting area; a fitness workout area with showers and lockers; and a bike room with secure storage. The project will also provide abundant green space, with outdoor seating and retail vendors.
Mark Winters, Executive Managing Director of Newmark Knight Frank, the exclusive leasing agent for Alewife Research Center, represented The Davis Companies in the transaction. Eric Smith of CB Richard Ellis represented the tenant, Ribon Therapeutics.
“With high rent and almost no availability of laboratory space across much of Boston and East Cambridge, the ARC has become a greater attraction for expanding top life sciences firms as evidenced by recent leases signed by Ribon Therapeutics and Eisai,” said Winters. “This project gives tenants a new, best-in-class laboratory building in a market with little vacancy, and offers a tremendous value for bioscience companies.”
About The Davis Companies
The Davis Companies is an integrated real estate investment, development and management firm headquartered in Boston that has invested more than $4 billion in gross asset value through real estate equity, debt and fixed-income securities. A combination of capital markets, development and management expertise allows The Davis Companies to nimbly tackle complex opportunities. Directly, and with its valued partners, The Davis Companies currently owns a real estate portfolio of approximately 12 million square feet of office, multifamily, retail, hospitality, light industrial, healthcare and life science properties across the Eastern United States. For further information, visit www.www.thedaviscompanies.com.
About Ribon Therapeutics Inc.
Ribon Therapeutics is a biotechnology company pioneering the discovery of new cancer medicines that target monoPARP proteins, critical regulators of cancer survival mechanisms. The diverse and central functions that PARPs, or poly(ADP-ribose) polymerases, play in cancer cell survival pathways are just emerging, and many of the seminal discoveries in the field have been made by Ribon’s scientific founders. By combining insights from our founders and an experienced management team, Ribon is building a proprietary drug discovery platform to investigate the molecular action and biological function of a subset of the PARP protein family, called monoPARPs.
Based on its platform, Ribon is creating a pipeline of innovative medicines that selectively target monoPARPs to treat cancer and may have the potential to impact other diseases. The company is backed by prominent life science investors, including The Column Group, U.S. Venture Partners, Deerfield Management and Osage University Partners. For more information, visit: http://www.ribontx.com/