By CoStar News Staff
Eli Lilly announced plans to open a new Lilly Gateway Labs in Philadelphia, bringing what it describes as a "distinctive model of scientific partnership" to the city that has a sizable healthcare and medical research presence. According to the Indianapolis-based medicine maker, the lab is intended to provide fully equipped space and the drugmaker's expertise to promising, early-stage biotechs.
"By fostering scientific breakthroughs and helping biotechs remove hurdles, we help companies speed the development of life-changing medicines for patients around the world," the company said.
The new Gateway Labs site will occupy 44,000 square feet on the first and second levels of 2300 Market, a new life sciences facility in Center City developed and operated by Breakthrough Properties. The Los Angeles-based developer of life science facilities is structured as a joint venture between Tishman Speyer and Bellco Capital. It recently raised $430 million in a second investment fund to back biotech property investments in major life science hubs such as Boston, San Francisco and San Diego.
The new lab facility will operate as a type of coworking/incubator space for biotech firms, providing access to fully equipped wet lab facilities, building amenities, as well as the opportunity for startups housed in the lab to consult with members of Breakthrough Properties' Scientific Advisory Board and Eli Lilly scientists and executives, who will offer "strategic engagement to help accelerate innovation," according to the building's developer.
The space will be equipped with cold storage, centrifuges, autoclave and other equipment used in life science research. On-site staff including concierge service, lab operations and dock management will further support research and development services and business development efforts, while also minimizing participating companies' upfront costs. Building amenities include an on-site café, conferencing space and a fitness center.
"By providing innovative scientists with comprehensive lab space, flexible growth opportunities and ready access to top minds and funding sources, Lilly Gateway Labs at Breakthrough will help reinforce Philadelphia as a hub for life changing discoveries," said Breakthrough Properties Chief Investment Officer Daniel D'Orazi, in a statement announcing the new facility.
"Philadelphia has long led biotech innovation, from early vaccine development to pioneering gene therapy and CAR-T treatments and discovering new approaches to Alzheimer's disease. Today's local biotech scene builds on that legacy with founders tackling medicine's toughest challenges," said Julie Gilmore, Ph.D., vice president, and global head of Lilly Gateway Labs and Catalyze360 Portfolio Management in a statement. "Access to top-notch lab infrastructure is essential, but success for early-stage companies also requires experienced thought partners who understand the science and can help navigate the challenging journey from discovery through early clinical development."
Lilly Gateway Labs joins cell-therapy research firm Legend Biotech as the first two tenants signed in the eight-story building designed by Philadelphia-based architecture studio KieranTimberlake and measuring nearly 227,000-square feet. The new building is located next to academic medical centers at the University of Pennsylvania and Drexel University, as well as number of life science-related firms in Philadelphia's University City neighborhood.
The remaining space in the building offers lab-ready shell space in flexible lab zones that can accommodate a wide range of research uses. Leasing for 2300 Market is being handled by Cushman & Wakefield.
Since the opening of the first Gateway Labs site in December 2019, Eli Lilly said participating companies have attracted more than $3 billion in capital supporting more than 50 therapeutics and platforms currently in development. In addition to Philadelphia, Lilly has Gateway Labs sites in South San Francisco, San Diego, Boston, Beijing and Shanghai.
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