Alexandria is
well positioned to support companies in the growing area of
AI-enhanced laboratory-based research and development, which
is contributing to demand for advanced laboratory
infrastructure requirements
PASADENA, Calif., Sept. 27,
2023 /PRNewswire/ -- Alexandria Real Estate Equities,
Inc. (NYSE: ARE), the first, preeminent, longest-tenured and
pioneering owner, operator and developer of collaborative life
science, agtech and advanced technology mega campuses in AAA
innovation cluster locations, has been strategically developing and
operating high-quality Labspace® infrastructure
for, and investing in, some of the most advanced and innovative
biopharmaceutical companies leveraging artificial intelligence (AI)
and machine learning (ML) platforms for more than a decade. The
power of AI/ML is derived from high-quality experimental data
generated by scientists in the laboratory. Discovering and
harnessing novel biology is the key to unlocking safe and effective
new medicines, and AI is a remarkable tool in this pursuit.
Importantly, the complexity and volume of laboratory-generated data
needed to train AI/ML models requires highly integrated research
and development infrastructure, resulting in more specialized
technical laboratory space requirements.
"Using advanced imaging systems, we generate more than a
petabyte of data each week that would simply be impossible to
interpret without the proprietary AI and machine learning tools
developed in our laboratories," said Roger
M. Perlmutter, MD, PhD, chief executive officer and chairman
of Eikon Therapeutics, board director of insitro and NGM
Biopharmaceuticals, Inc. and former executive vice president
R&D of Merck and Amgen. "Access to superb facilities is crucial
for the development of our new medicines: it provides the substrate
for the integration of engineering and biomedical research that is
our hallmark. We are proud to be part of the remarkable community
that Alexandria has created in
New York City, and to be
partnering with Alexandria to
develop our new headquarters in the San
Francisco Bay Area."
In addition to Eikon Therapeutics, insitro, an ML-powered drug
discovery and development company, is a tremendous example of
Alexandria tenants and venture
investment companies utilizing AI/ML models to complement and
accelerate their experiments. Recognizing the immense potential of
insitro's innovative platform combining biology and AI with
scalable laboratory experiments to enable better medicines for
patients, Alexandria invested in
the company's Series A financing in 2018. Alexandria has also provided mission-critical
real estate to insitro in South San
Francisco since early 2019. More recently, Alexandria was an early investor in
Generate:Biomedicines, a clinical-stage biotherapeutics company
applying an ML-powered generative biology platform to develop novel
therapeutics.
"AI is powering the future of drug discovery and development,
and biotechnology companies will need high-quality laboratory space
to generate the critical data needed to benefit from the coming
AI-enabled scientific era," said Noubar
Afeyan, PhD, founder and chief executive officer of Flagship
Pioneering and co-founder and chairman of Moderna and
Generate:Biomedicines. "Alexandria
is an important strategic partner in providing critical laboratory
space to many of our companies working at the intersection of
biology and AI to pioneer new platforms and speed the innovation
supply chain in order to get new medicines to patients faster."
With strong balance sheets and significant free cash flows to
fuel innovation and growth, multinational pharmaceutical companies,
which represent 17% of Alexandria's annual rental revenue as of
June 30, 2023, also widely deploy
AI/ML throughout the research and development process to bring more
precise and effective medicines to patients. As a testament to the
widespread adoption and utilization of AI across the life cycle of
drug development, in 2021 there were over 100 drug and biologic
submissions to the U.S. Food and Drug Administration developed
using AI and machine learning components.
"AI and machine learning have been utilized for decades across
the life science industry, including as integral tools in the
development of many approved therapies — this is not a new
phenomenon," said Hallie E. Kuhn,
PhD, senior vice president of science and technology and capital
markets at Alexandria Real Estate Equities, Inc. and Alexandria
Venture Investments. "These algorithms require large and
high-quality data sets that are generated from experiments
conducted in laboratories, and novel therapies will always require
extensive laboratory testing to confirm their safety and efficacy
before advancing to human studies, which contributes to the
continued need for specialized R&D laboratory space."
About Alexandria Real Estate
Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P
500® company, is a best-in-class, mission-driven life science
REIT making a positive and lasting impact on the world. As the
pioneer of the life science real estate niche since our founding in
1994, Alexandria is the preeminent
and longest-tenured owner, operator and developer of collaborative
life science, agtech and advanced technology mega campuses in AAA
innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San
Diego, Seattle,
Maryland and Research Triangle.
The trusted partner to approximately 825 tenants, Alexandria has a total market capitalization
of $30.6 billion and an asset base in
North America of 74.9 million SF
as of June 30, 2023, which includes
41.1 million RSF of operating properties and 5.3 million RSF of
Class A/A+ properties undergoing construction, 9.4 million RSF of
near-term and intermediate-term development and redevelopment
projects and 19.1 million SF of future development projects.
Alexandria has a longstanding and
proven track record of developing Class A/A+ properties clustered
in life science, agtech and advanced technology mega campuses that
provide our 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. Alexandria also provides strategic capital to
transformative life science, agrifoodtech, climate innovation and
technology companies through our venture capital platform. We
believe our unique business model and diligent underwriting ensure
a high-quality and diverse tenant base that results in higher
occupancy levels, longer lease terms, higher rental income, higher
returns and greater long-term asset value. For more information on
Alexandria, please
visit www.are.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Such forward-looking statements include, without limitation,
statements regarding the potential impacts of Alexandria's investment decisions, AI and ML,
laboratory-generated data and laboratory infrastructure on
Alexandria's tenants, the
development of new medicines, the advancement of AI and ML
technologies, the likelihood of continued support, investment and
partnership by Alexandria, and the
demand for real estate investment opportunities. These
forward-looking statements are based on Alexandria's present intent, beliefs or
expectations, but forward-looking statements are not guaranteed to
occur and may not occur. Actual results may differ materially from
those contained in or implied by Alexandria's forward-looking statements as a
result of a variety of factors, including, without limitation, the
risks and uncertainties detailed in its filings with the Securities
and Exchange Commission. All forward-looking statements are made as
of the date of this press release, and Alexandria assumes no obligation to update
this information. For more discussion relating to risks and
uncertainties that could cause actual results to differ materially
from those anticipated in Alexandria's forward-looking statements, and
risks and uncertainties to Alexandria's business in general, please refer
to Alexandria's filings with the
Securities and Exchange Commission, including its most recent
annual report on Form 10-K and any subsequently filed quarterly
reports on Form 10-Q.
CONTACT: Sara
Kabakoff, Senior Vice President – Chief Content Officer,
(626) 788-5578, skabakoff@are.com
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SOURCE Alexandria Real Estate Equities, Inc.