Alexandria Real Estate Equities, Inc. Signs Biopharmaceutical Company, Lilly, as Anchor New York City Tenant at the Alexandria Center for Science and ...( ...)

PASADENA, Calif., July 22 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), Landlord of Choice to the Life Science Industry(R), announced today that an affiliate has entered into a long-term lease with Eli Lilly and Company as the anchor tenant at the Alexandria Center for Science and Technology at East River Science Park ("the Alexandria Center"). Lilly has leased approximately 91,000 rentable square feet, as well as an additional approximately 9,000 rentable square feet of core services space, at the Alexandria Center, which will become the new research headquarters for ImClone Systems, a wholly-owned subsidiary of Eli Lilly and Company, to be New York City's life science collaboration and translational research epicenter. Occupancy is expected in approximately June 2010.

To mark this profound milestone in the continued development of Alexandria's New York City life science cluster, Mayor Michael R. Bloomberg held a press conference today at the Alexandria Center for Science and Technology at East River Science Park, along with New York City Council Speaker Christine C. Quinn, Empire State Development Corporation Chairman and CEO-designate Dennis Mullen, Dr. John C. Lechleiter, Chairman, President and Chief Executive Officer of Eli Lilly and Company, Dr. Larry Witte, Senior Vice President of Research of ImClone Systems and Joel S. Marcus, Chairman, President and Chief Executive Officer of Alexandria Real Estate Equities, Inc., as well as many dignitaries.

ImClone Systems is a leader in the development and commercialization of novel therapeutic products in the field of oncology, such as ERBITUX((R)) (cetuximab) and a broad spectrum of innovative product candidates with potential application in multiple tumor types. Committed to building an oncolog
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