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Alexandria Real Estate Equities, Inc. Signs Biopharmaceutical Company, Lilly, as Anchor New York City Tenant at the Alexandria Center for Science and Technology
Date:7/22/2009

y powerhouse, Eli Lilly and Company acquired ImClone Systems in November 2008 as a complement to its internal cancer research unit, Lilly Oncology. Locating translational research and development at the Alexandria Center provides ImClone Systems and Lilly Oncology with a unique and highly collaborative platform from which to access renowned medical and research institutions in New York City. Alexandria's New York City presence will leverage the Company's proprietary clustering model to recruit a broad and diverse spectrum of life science entities.

"New York City has always been at the forefront of scientific innovation, but the City has never fully capitalized on its assets to create a thriving commercial bioscience industry and the jobs that come with it," said Mayor Bloomberg. "We joined with Alexandria Real Estate Equities to create the East River Science Park to provide today's bioscience companies with the state-of-the-art commercial lab space they need to locate and expand. Lilly's decision to become its anchor tenant is evidence that our work is paying off. It also serves as a major boost to our efforts to diversify New York City's economy. In recent months, we have announced initiatives to promote entrepreneurship, develop green jobs, support nonprofits, grow the media industry and add industrial jobs, and today's announcement affirms our belief that bioscience is another industry in which the City can and will succeed."

"Alexandria has had a prior relationship with Lilly in one of its primary life science cluster markets and has worked cooperatively on a number of strategic initiatives. Lilly is the first top-tier biopharmaceutical company to base translational research and development operations in New York City," said Joel S. Marcus, Chairman, President and Chief Executive Officer of Alexandria Real Estate Equities, Inc. "Alexandria has now delivered on its strategy to take the positive attributes of New
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SOURCE Alexandria Real Estate Equities, Inc.
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