Cambridge-based Generation Bio Co. is seeking to terminate its lease at a biomanufacturing facility in Waltham due to a reported breach of agreement, according to the Boston Business Journal. The 104,000-square-foot lease was signed in 2021 and the landlord, CS Capital Management, disputes the termination by claiming no breach occurred. CS Capital acquired the building from TPG Inc., but is now contesting Generation’s right to end their lease.
Generation stands firm on their decision and intends to defend it against any challenges. The biotech company recently announced significant layoffs affecting 40% of its workforce as they focus on gene therapies beyond liver targets and continue collaborations with Moderna Inc. Despite these obstacles, Generation remains committed to advancing gene therapy research.
The article “Generation Terminates Waltham Lease; Landlord Fights Back” was originally published by Connect CRE.
