Alexandria Real Estate Equities, Inc. Debuts Alexandria LaunchLabs and Seed Fund to Address Affordable Startup Space and Funding Gap in New York City Life Science Ecosystem

NEW YORK, June 8, 2016 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. ARE, a real estate investment trust uniquely focused on world-class collaborative science and technology campuses in urban innovation clusters, today unveiled plans for Alexandria LaunchLabs^™ at the Alexandria Center^® for Life Science – New York City and the Alexandria Seed Fund to address the critical needs of New York City's life science ecosystem. Alexandria LaunchLabs and the Alexandria Seed Fund will provide affordable, full-service commercial laboratory/office space and capital resources specifically designed to dramatically accelerate translational research out of New York City's world-class academic laboratories.

Alexandria LaunchLabs – A Unique Startup Platform

Alexandria LaunchLabs will be a first-of-its-kind, affordable, plug-and-play, fully integrated and scalable real estate platform providing more than 15,000 square feet of flexible, full-service life science laboratory/office space, shared equipment and services, specialized amenities, seed funding, mentorship programs and administrative support. This unique platform will provide the next generation of life science startups in New York City with the necessary resources and collaborative environment to start transforming novel ideas into innovative, early-stage companies that develop products to improve human health.

To maintain a unique and collaborative environment, there will be a selective vetting process of prospective tenants for Alexandria LaunchLabs. Alexandria will evaluate the quality of each company's management team, intellectual property, business strategy and financial plan. Alexandria is currently accepting tenant applications from leading-edge life science startups at www.launchlabsnyc.com/apply.                                     

"New York City is rapidly emerging as a dynamic ecosystem for life science," said Joel S. Marcus, chairman, chief executive officer and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "We recognize the urgent need for affordable, scalable and turnkey startup laboratory/office space in New York City, and we innately understand the complex and diverse support services required to build a life science startup. Just as our collaborative Alexandria Center campus has driven innovation and value for early, growth-stage and mature biopharmaceutical companies – accelerating the development of treatments and cures for patients – Alexandria LaunchLabs represents another initiative to foster and support life science innovation among seed-stage companies in New York City."

Alexandria Seed Fund

In conjunction with the opening of Alexandria LaunchLabs, the new Alexandria Seed Fund will provide seed-stage capital to support entrepreneurship and emerging companies across the New York City life science ecosystem at the critical transition point between scientific discovery and early translational development. Alexandria LaunchLabs' tenants will have priority access to the Alexandria Seed Fund, targeted at $10 million to $25 million and led by Alexandria Venture Investments – Alexandria's strategic venture capital arm – with capital contributions from other strategic and financial life science investors. Seed funding will be allocated to select companies based on the quality of each applicant's management team, intellectual property, business strategy and financial plan. Alexandria is currently accepting applications for seed funding at www.launchlabsnyc.com/apply.

"The most palpable source of momentum across New York City's life science cluster is from new entities spinning out of the city's leading academic medical institutions," said Jenna Foger, senior principal of science and technology of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "As the quality of science and entrepreneurship is reaching new heights, it is our collective responsibility to solve the funding bottleneck that local seed-stage companies currently face in order to catalyze innovation and strengthen this important segment of the New York City community."

Access to a World-Class Urban Innovation Campus  

Alexandria LaunchLabs will open in the summer of 2017 at the world-class Alexandria Center for Life Science, New York City's first and only life science campus. Located in the heart of Manhattan's East Side Medical Corridor with critical adjacency to New York City's renowned academic and medical institutions, the Alexandria Center will provide a unique ecosystem for Alexandria LaunchLabs' tenants to innovate and continue to grow. The campus will also offer Alexandria LaunchLabs' tenants a scalable path to transition into step-up space at the Alexandria Science Hotel^® or other customized Alexandria spaces that accommodate the growth and development of successful early-stage companies.

The vibrant campus is home to a high-quality and diverse range of life science entities, including multinational pharmaceutical companies, such as Eli Lilly and Company, Pfizer Inc. and Roche, and a number of growth- and early-stage companies, including Cellectis S.A., Intra-Cellular Therapies, Inc., Kallyope Inc., Kyras Therapeutics, Inc., Lycera Corp., and TARA Biosystems, Inc., as well as Lodo Therapeutics Corporation and Petra Pharma Corporation, both launched by Accelerator Corporation, which will also offer unique collaboration opportunities for Alexandria LaunchLabs' tenants.

Additionally, Alexandria LaunchLabs' tenants will have access to the numerous campus amenities at the Alexandria Center, including FitLab, a state-of-the-art fitness center; Riverpark^®, a Tom Colicchio Restaurant; Apella^®, the campus's world-class conference and event space; and Alexandria's exclusive thought leadership programming and community-wide events, among many other amenities designed to foster collaboration, inspire productivity and enhance the ability for Alexandria's tenants to recruit and retain top talent.

"Our thriving campus includes opportunities for early- and growth-stage companies in the Alexandria Science Hotel, as well as custom-designed, state-of-the-art laboratory/office suites for more established biotechnology and pharmaceutical companies, which, together with the myriad of campus amenities, help drive collaboration and innovation in New York City," said John Cunningham, senior vice president, regional market director of New York City and strategic operations of Alexandria Real Estate Equities, Inc. "With the opening of Alexandria LaunchLabs, New York City's seed-stage life science companies will now have a unique opportunity to join and collaborate with the best-in-class roster of tenants on our world-class urban campus."

About Alexandria LaunchLabs^™ at the Alexandria Center for Life Science – New York City
Alexandria LaunchLabs is New York City's unique startup platform designed to satisfy a key unmet need for affordable space for seed-stage life science companies in New York City. Located at the Alexandria Center for Life Science – New York City, Alexandria LaunchLabs provides move-in-ready laboratory/office space, first-class support resources, shared equipment and services, creative amenities and startup capital – all of which are critical for dramatically accelerating the growth of seed-stage companies in New York City. For more information, please visit www.launchlabsnyc.com.

Key Highlights and Differentiators

As New York City's first affordable, flexible, plug-and-play space with specialized programming, cutting-edge amenities, access to seed capital and a prominent location at the Alexandria Center for Life Science – New York City, Alexandria LaunchLabs is the premier destination for New York City's next generation of life science companies.   

• Affordable
  • For as low as $1,995 per month (which includes membership, an office workstation and a laboratory bench in a shared suite), entrepreneurs can gain access to Alexandria LaunchLabs' unparalleled offerings

• Flexible
  • A unit-based rent model affords Alexandria LaunchLabs' tenants maximum flexibility to rent a single office desk, a laboratory bench in a shared suite, a private office and/or a private laboratory suite to accommodate the varying needs of seed-stage life science companies

• Plug-and-Play
  • Custom designed space to meet the needs of seed-stage life science companies
  • Full-service platform with on-site laboratory management and operations team
  • Fully permitted space outfitted with office and laboratory furniture
  • Extensive specialized laboratory equipment and services
  • Comprehensive, move-in-ready IT/AV package

• Programs and Amenities
  • Strategic programs to foster entrepreneurship and networking with key stakeholders, including
    • Breakfast speaker series
    • Happy hour round robins
    • Access to an elite network of expert legal, regulatory, business development, recruiting, accounting, communications and other professionals
    • Mentorship and entrepreneur-in-residence programs
  • Shared conference, huddle and break rooms
  • Open lounge and event spaces
  • Fully stocked pantry
  • Coffee and drink bars

• Alexandria Seed Fund
  • Seed capital from a leading network of strategic and financial investors
  • A key resource needed to transition from scientific concept to translational development
  • Fund advisory board comprising leaders in the venture capital community to support investment selection and portfolio company mentorship

• Best-in-Class Location at the Alexandria Center for Life Science
  • Prominent location in the heart of the East Side Medical Corridor with unparalleled views of New York City and the East River waterfront
  • Visibility among the life science community (key for talent recruitment and capital raising)
  • Unique networking and collaboration opportunities
  • Campus thought leadership programs and tenant events
  • World-class campus amenities, including:
    • Apella, a collaborative digital conference center and event space
    • FitLab, a state-of-the-art, fully equipped fitness center with on-site wellness coaches
    • Riverpark, a Tom Colicchio Restaurant, and The Cube, a casual café
    • Riverpark Farm, New York City's largest urban farm
    • 24/7 on-site security
    • Alexandria shuttle service to and from Penn Station
    • On-site parking
  • LEED^® Gold and Wired Certified Platinum facilities
  • Scalable growth path on campus with step-up space in the Alexandria Science Hotel and other Alexandria spaces

About Alexandria Venture Investments
Alexandria Venture Investments is the strategic venture capital arm of Alexandria Real Estate Equities, Inc. ARE. Since 1996, Alexandria Venture Investments has provided strategic investment capital to the science and technology industries. Alexandria Venture Investments focuses on novel, breakthrough discoveries in biopharmaceuticals, diagnostics, research tools, agtech, digital health and technology. Based on its experience and in-depth understanding of the science and technology industries, its long-term relationships with leading investors and its world-class international scientific advisory network, Alexandria Venture Investments is uniquely positioned to fund seed-, early- and growth-stage companies.

About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. ARE is an urban office real estate investment trust uniquely focused on world-class collaborative science and technology campuses in AAA innovation cluster locations, with a total market capitalization of $11.1 billion and an asset base in North America of 24.5 million square feet as of March 31, 2016. The asset base in North America includes 18.9 million RSF of operating properties and development and redevelopment projects (under construction or pre-construction) and 5.6 million square feet of future ground-up development projects. Alexandria pioneered this niche in 1994 and has since established a dominant market presence in key locations, including Greater Boston, San Francisco, New York City, San Diego, Seattle, Maryland and Research Triangle Park. Alexandria has a longstanding and proven track record of developing Class A assets clustered in urban science and technology campuses that provide its innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. For more information, please visit www.are.com.

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SOURCE Alexandria Real Estate Equities, Inc.