AstraZeneca to Invest $1 Billion in New Kendall Square R&D Center, Boost Massachusetts Jobs

AstraZeneca Plans $1-Billion Spend to Grow Massachusetts Presence
CRE Market Beat Take
AstraZeneca’s $1 billion Massachusetts expansion and large Kendall Square R&D hub reinforce the depth of life science demand anchoring lab and R&D space in the Boston metro.

AstraZeneca is committing $1 billion to expand its presence in Massachusetts, with plans to increase its workforce in the state by 50% over the coming years. The UK-based biopharmaceutical company has recently opened a new research and development facility in Cambridge’s Kendall Square, adding to its established footprint in both Cambridge and Boston.

The newly opened AstraZeneca R&D Center Kendall Square at 290 Binney Street totals 570,000 square feet and is designed as a large-scale hub for scientific discovery. The facility builds on the company’s existing genomic medicine site at 100 Binney Street, also in Cambridge, creating a concentrated cluster of activity for its research functions.

Across the new Kendall Square R&D center and the genomic medicine site, AstraZeneca expects to house nearly 2,000 researchers and scientists. These teams will work across the company’s oncology programs as well as cell therapy, chronic disease research and rare disease pipelines, positioning the Massachusetts locations as key contributors to its global portfolio of therapies.

The R&D Center Kendall Square includes ten floors of interconnecting laboratories, reflecting a layout intended to support collaboration among different scientific disciplines. By co-locating large research teams within a single, multi-story lab environment, AstraZeneca is concentrating a critical mass of talent and infrastructure in Kendall Square.

The company describes Kendall Square as a leading innovation ecosystem and emphasizes the district’s role in its long-term strategy. AstraZeneca CEO Pascal Soriot stated that the new R&D center is one of the key locations where the company expects to discover the next generation of scientific breakthroughs, underscoring the importance of this site within its global network.

Soriot also characterized the facility as evidence of AstraZeneca’s long-term commitment to Massachusetts. The combination of expanded headcount, significant capital investment and a large new R&D footprint signals the company’s intent to maintain and grow its research base in the state over time.

In addition to committing to Massachusetts, AstraZeneca is positioning the Cambridge facilities as a platform for U.S.-led innovation that can be delivered to patients worldwide. With the new Kendall Square center now open and integrated with its existing genomic medicine operations nearby, the company is consolidating a major share of its research capabilities within a single, prominent life sciences cluster.

Source:

Connect CRE
Share the Post:

Related Posts