State-of-the-Art 176,000 Square Foot Building Serves as Isis' New Corporate and Research Facility
SAN DIEGO, Sept. 20, 2011 /PRNewswire via COMTEX/ --
Civic leaders today joined senior management from Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) and BioMed Realty Trust, Inc. (NYSE: BMR) to celebrate the completion of a new 176,000 square foot build-to-suit corporate and research facility on Gazelle Court in the Carlsbad Oaks North Business Park in Carlsbad. Among the featured speakers at the ceremony were Stanley T. Crooke, M.D., Ph.D., Chairman and Chief Executive Officer, and B. Lynne Parshall, Chief Operating Officer and Chief Financial Officer, of Isis; Matt Hall, Mayor of the City of Carlsbad; and Alan D. Gold, Chairman and Chief Executive Officer of BioMed.
The state-of-the-art complex consolidates the majority of Isis' operations into a single facility, which will foster the company's collaborative and unique approach to drug discovery and development. Isis and BioMed broke ground on the new building in June 2010.
"Our new facility combines functional and efficient design features to meet our current and future needs and foster our collaborative approach to drug discovery and development," said Dr. Crooke. "Completed ahead of schedule and below budget by BioMed, our real estate partner since 2005, our new corporate home provides the ideal environment for us to continue to innovate and create the medicines of tomorrow. We are very pleased to share this special occasion for all of us at Isis with Mayor Hall and the other civic leaders from the City of Carlsbad, representatives from the San Diego life science community, our construction partners and, of course, Isis employees and their families."
"Isis Pharmaceuticals is a major player in the life sciences industry and the regional economy. We couldn't be more pleased that Isis chose Carlsbad as the location for this stunning new facility," said City of Carlsbad Mayor Matt Hall. "The city is proud of the partnership we've enjoyed with Isis Pharmaceuticals and BioMed Realty Trust to take this building from concept to today's grand opening in less than two years."
The building was designed to be science-centric with modern design features to foster interdisciplinary collaborations, including ample space to promote innovation, creative use of outdoor space that provides informal meeting areas for people to exchange ideas, bright and innovative laboratories with modern mobile bench cabinetry that can be moved to accommodate scientists' needs, and a fitness course that surrounds the entire campus. In addition, the eco-friendly campus includes environmentally sensitive design features, including solar panels, maximum use of natural lighting, and drought-resistant native landscaping designed to take advantage of the City of Carlsbad's local water reclamation plant. The building is expected to qualify for Silver LEED® certification from the U.S. Green Building Council.
Speaking on behalf of BioMed, Mr. Gold remarked, "The grand opening of this magnificent 176,000 square foot laboratory and office facility is the culmination of strong collaboration with Isis, one of our most valued long-term tenants. We salute Dr. Crooke and all of the Isis team, are proud to play a part in fulfilling their mission to create a healthier future, and look forward to supporting their real estate needs in Carlsbad for many years to come."
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®. 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 properties comprising approximately 12.3 million rentable square feet. The company's properties are located predominantly in the major U.S. life science markets of Boston, San Francisco, Maryland, San Diego, New York/New Jersey, Pennsylvania and Seattle, which have well-established reputations as centers for scientific research. Additional information is available at www.biomedrealty.com.
About Isis Pharmaceuticals
Isis is exploiting its leadership position in antisense technology to discover and develop novel drugs for its product pipeline and for its partners. Isis' broad pipeline consists of 24 drugs to treat a wide variety of diseases with an emphasis on cardiovascular, metabolic and severe and rare/neurodegenerative diseases, and cancer. Isis' partner, Genzyme, plans to commercialize Isis' lead product, mipomersen following regulatory approval, which is expected in 2012. Isis' patents provide strong and extensive protection for its drugs and technology. Additional information about Isis is available at www.isispharm.com.
BioMed Realty Trust Forward Looking Statement
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.
Isis Forward Looking Statement
This press release includes forward-looking statements regarding Isis Pharmaceuticals' business, and the therapeutic and commercial potential of Isis' technologies and products in development. Any statement describing Isis' goals, expectations, financial or other projections, intentions or beliefs, including the planned commercialization of mipomersen, is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. Isis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Isis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Isis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Isis' programs are described in additional detail in Isis' annual report on Form 10-K for the year ended December 31, 2010and its most recent quarterly report on Form 10-Q, which are on file with the SEC. Copies of these and other documents are available from the Company.
Isis Pharmaceuticals® is a registered trademark of Isis Pharmaceuticals, Inc.
SOURCE BioMed Realty Trust, Inc.; Isis Pharmaceuticals, Inc.