Friday, June 5, 2020

Century Therapeutics lease 32,500 SF in Philadelphia

By Ingrid Tunberg

The lease encompasses 32,500 square feet of new office and lab space within in One uCity Square, a 400,000-square-foot mixed-use community, comprising class-A office, lab and retail space. Located in Philadelphia’s University City neighborhood, the mixed-use community is a joint-venture between University City Science Center, Wexford Science & Technology LLC and Ventas Inc.
The development recently broke ground and is expected to deliver in early 2022. Century Therapeutics will occupy the space within the city’s growing life science ecosystem, upon completion.

Pennsylvania’s life sciences venture capital funding has totaled more than $392 million year-to-date, compared to $86.7 million within the first half of 2019; representing a more than 350% increase. The funding in Pennsylvania ranges from $250,000 to $200 million, with firms growing and in need of various-sized space of all sizes.

Century Therapeutics launched in 2019 to focus on developing cell therapies.

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