SAN DIEGO, Feb. 3, 2011 /PRNewswire via COMTEX/ --
BioMed Realty Trust, Inc. (NYSE: BMR) today announced the signing of a new lease with Bionovo, Inc. (Nasdaq: BNVI) at its Bridgeview Technology Park in Hayward, California. Bionovo, a pharmaceutical company focused on the discovery and development of drug treatments for women's health and cancer, agreed to a ten-year lease for approximately 51,500 square feet at BioMed's multi-tenant research campus in the East Bay of San Francisco's technology corridor.
Bionovo is the third leasing transaction signed by BioMed at the Bridgeview Technology Park in the last twelve months, representing more than 100,000 square feet of aggregate leasing activity at Bridgeview. Previously, the company announced a 24,000 square foot renewal and expansion of its lease with MedImmune, LLC, a subsidiary of AstraZeneca PLC, and a 25,000 square foot new lease with GenturaDx.
Alan D. Gold, BioMed's Chairman and Chief Executive Officer, remarked, "We are very pleased that Bionovo has chosen the Bridgeview Technology Park to pursue its mission of improving the quality of women's health and defeating life-threatening cancers. Bionovo just closed on its follow-on public equity offering for approximately $30 million, again demonstrating the link between capital raising and leasing activity in the life science sector. We welcome Bionovo to BioMed's premier tenant roster in the San Francisco Bay area and look forward to providing an exceptional life science environment for them at Bridgeview."
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry(R). The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed owns or has interests in 85 properties, representing 147 buildings with approximately 12.2 million rentable square feet. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, which have well-established reputations as centers for scientific research. Additional information is available at www.biomedrealty.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); adverse economic or real estate developments in the life science industry or the company's target markets; risks associated with the availability and terms of financing, the use of debt to fund acquisitions and developments, and the ability to refinance indebtedness as it comes due; failure to maintain the company's investment grade credit ratings with the ratings agencies; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; reductions in asset valuations and related impairment charges; risks and uncertainties affecting property development and construction; risks associated with downturns in the national and local economies, increases in interest rates, and volatility in the securities markets; potential liability for uninsured losses and environmental contamination; risks associated with the company's potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and risks associated with the company's dependence on key personnel whose continued service is not guaranteed. For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE BioMed Realty Trust, Inc.