A real estate investment trust (REIT) focusing on offering real estate services to the life science industry, BioMed Realty Trust has signed a lease contract with BIND Biosciences for its Vassar Street property situated in Cambridge, Massachusetts.
BIND Biosciences is a biopharmaceutical company that produces therapeutic related nanoparticles to manufacture drugs. The company will now occupy nearly 32,800 sq ft. of office and lab space at Vassar Street.
The Vassar Street property is a two-storey rentable office and lab facility consisting of nearly 61,000 sq ft situated close to the campus of Massachusetts Institute of Technology and several research institutes and foundations, and also the company's Erie Street and Sidney Street properties that is at present leased to Vertex Pharmaceuticals. The reconstruction of the building began in July 2010 to add BioMed's Universal Flex Lab system that enables flexibility in reconfiguring meeting rooms, offices, and lab space, in order to increase space utilization and productivity. BIND Biosciences will join with Sun Catalytix and Epizyme at the Vassar Street facility, now leased completely.
Scott Minick, BIND’s CEO and President, stated that the company is excited to be a part of Cambridge life science environment and collaborate with BioMed's biotechnology companies such as Metabolix, Pfizer, and Sanofi. With the union of the reconstructed Vassar Street facility and BioMed’s partnership, the company has the opportunity to completely leverage its proprietary Medicinal Nanoengineering platform to produce and market targeted therapeutic drugs, he added.
According to CEO and Chairman of BioMed, Alan D. Gold, the redesigned and reconstructed Vassar Street property will be a suitable place for BIND to enhance its proprietary Medicinal Nanoengineering platform in developing targeted drugs and to accomplish its revolutionary research in nanomedicine.
Source: http://www.biomedrealty.com