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RxCelerate expands space to 25,000 square feet
CAMBRIDGE, U.K. – January 23, 2020 – BioMed Realty (“BioMed Realty” or the “Company”), a Blackstone portfolio company and a leading provider of real estate solutions to the life sciences community, and RxCelerate, one of the leading out-sourced drug discovery and development platforms, have signed an agreement for RxCelerate to occupy 25,000 square feet of premium laboratory and office space in the Company’s new development at the Babraham Research Campus.
“RxCelerate has experienced rapid expansion over the last five years, adding significant new services to our out-sourced drug R&D platform. Our team, now in excess of 50, has outgrown our existing space, across several different buildings on the Babraham Research Campus, and therefore the opportunity to move our Cambridge, U.K., headquarters into such a prestigious building on the same campus came at the perfect time for our business,” said Dr Jill Reckless, CEO, RxCelerate Group.
David Grainger, Executive Chairman, RxCelerate Group, added “Babraham Research Campus has always been a fantastic place to start new bioscience companies, and it’s great to see this new development providing such high quality space for those companies to expand without leaving their base. We are very excited to commence the next phase of our growth in our new home.”
In October 2017, BioMed Realty and the Babraham Research Campus launched a partnership, creating 100,000 square feet of research space for growing bioscience-based companies seeking to scale up their operations. BioMed@Babraham encompasses two adjacent buildings that will provide high quality research space for growing bioscience-based companies. Set to open as early as April 2020, the buildings are now 75% pre-let, highlighting the booming life science community of academia, research institutions and industry.
“BioMed Realty has been a part of Cambridge’s vibrant life science community since our acquisition of Granta Park in 2012 and we are very excited to continue the letting expansions at BioMed@Babraham with RxCelerate,” said Matt Smith, Director, U.K. Market of BioMed Realty. “The Babraham Research Campus is considered to be the U.K.’s leading campus to support early-stage bioscience enterprise, and we’re thrilled to welcome our expanding group of tenants to BioMed@Babraham.
As life sciences in the U.K. continues to thrive – the sector currently contributes over £70 billion to the U.K. economy and provides jobs for over 240,000 people across the country – BioMed@Babraham offers a unique space for the Cambridge life science innovation district to call home.