Alexandria Real Estate (ARE) announced an exclusive partnership with Eli Lilly (LLY) to expand Lilly’s 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. Expected to open in the first half of 2024, the Lilly Gateway Labs San Diego site will feature flexibly designed move-in-ready laboratories and fully integrated nontechnical space.
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Read More on ARE:
- Alexandria Real Estate price target raised to $115 from $114 at Evercore ISI
- Alexandria Real Estate lowers FY23 FFO view to $7.29-$7.31 from $7.95-$8.01
- Alexandria Real Estate Equities, Inc. Reports: 3Q23 and YTD 3Q23 Net Income per Share – Diluted of $0.13 and $1.08, respectively; and 3Q23 and YTD 3Q23 FFO per Share – Diluted, As Adjusted, of $2.26 and $6.69, respectively
- Alexandria Real Estate reports Q3 adjusted FFO $2.26, consensus $2.24
- Alexandria Real Estate options imply 3.3% move in share price post-earnings