IQHQ Announces Early Lease Renewal and Extension with Generate:Biomedicines
Generate:Biomedicines makes long-term commitment to pioneer programmable biology at IQHQ's Innovation Park, home to its cutting-edge CryoEM laboratory
BOSTON, January 28, 2025--(BUSINESS WIRE)--IQHQ, Inc. ("IQHQ" or "the Company"), a premier owner and developer of world-class life science districts, today announced that it has entered into an early lease renewal and long-term extension with Generate:Biomedicines ("Generate"), a pioneer in the field of generative biology, at IQHQ's Innovation Park life science district in Andover, Massachusetts. IQHQ acquired the Innovation Park campus between 2020 and 2021 and developed it into a world-class life science hub that provides leading biotechnology and life science manufacturing companies in the greater Boston market with sophisticated, high-end infrastructure and a flexible layout.
Generate sits at the intersection of machine learning, biological engineering, and medicine and is advancing a new era of programmable biology to more quickly engineer better medicines for patients. The Generate Platform's infusion of technology into biology allows the company to address historically undruggable and hard-to-drug targets as well as known targets in new and more effective ways.
Innovation Park houses Generate's 75,000 square foot, state-of-the-art cryogenic electron microscopy ("CryoEM") laboratory, one of the largest laboratories of its type in the United States. Generate's CryoEM laboratory is equipped with four state-of-the-art microscopes that provide detailed molecular visualization and produce terabytes of data daily, enriching The Generate Platform and enabling advancements in therapeutic design and discovery.
"We are proud that Generate:Biomedicines, a global leader in generative biology, has made a long-term commitment at IQHQ's Innovation Park district to accelerate breakthroughs in therapeutic discovery and development at their cutting-edge CryoEM laboratory," said Tracy Murphy, Co-CEO and Co-Founder of IQHQ. "We continue to deliver on our mission of providing best-in-class ecosystems of innovation and progress for leading companies across the life science sector, and we look forward to Generate's continued success at Innovation Park."
This successful transaction comes on the heels of the Company's recently announced $900 million in capital that was raised in 2024 to drive continued momentum for IQHQ's business. The capital raise puts the Company in a strong position to capture opportunities as the life science market continues to improve, with leading companies showing a clear preference for premier assets in core markets.
About IQHQ
IQHQ is Giving Progress a Home™, empowering the life science community to thrive by creating and developing districts that inspire innovation and drive growth. IQHQ's focus is to acquire, develop, and operate sustainable life science districts in the U.S. innovation hubs of San Francisco, San Diego, and Boston. To learn more, visit iqhqreit.com or follow IQHQ on LinkedIn or Instagram.
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