LLY - Alexandria Real Estate Equities Inc. Announces Exclusive Partnership With Lilly to Expand Lilly Gateway Labs to San Diego | Benzinga
Alexandria and Lilly, which began their strategic relationship in 2008, are collaborating to support and accelerate the development of promising early-stage companies in the growing San Diego life science ecosystem
PASADENA, Calif., Nov. 28, 2023 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE:ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative life science, agtech and advanced technology mega campuses in AAA innovation cluster locations, today announced an exclusive partnership with longstanding tenant Eli Lilly and Company (NYSE:LLY) to expand Lilly's innovative Gateway Labs model to the San Diego life science cluster. Launched in 2019 by Lilly in the San Francisco Bay Area, Gateway Labs is a shared innovation accelerator designed to speed the discovery of innovative medicines by providing emerging biotechnology companies with mission-critical, flexible laboratories and essential, integrated nontechnical space; opportunities to collaborate with Lilly; and access to capital through Lilly and its venture network, including Alexandria Venture Investments. The new Gateway Labs site will be located in Alexandria's University Town Center (UTC) submarket. The unique platform will help attract and accelerate the growth of the San Diego cluster's next generation of leading life science companies.
"San Diego is home to a thriving life science community, and we're excited to provide Lilly's scientific expertise to small biotechs in the area as they work to discover life-changing medicines for people who need them," said Daniel Skovronsky, MD, PhD, chief scientific officer, and president, Lilly Research Laboratories, Eli Lilly and Company.
"This world-class facility will merge operational excellence with Lilly's scientific expertise, expanding our ability to collaborate with biotech partners and scientists on research of mutual interest," said Julie Gilmore, PhD, vice president and global head of Lilly Gateway Labs, Eli Lilly and Company. "We're excited about the opportunity to advance early-phase assets that could one day become cutting-edge therapies for patients around the world."
Alexandria has led the development, expansion and transformation of the