**Biotech Firm Terminates Cambridge Headquarters Lease Early**
Generation Bio Co. has officially terminated its lease at 301 Binney Street in Cambridge, Massachusetts, following its acquisition by biotech royalty aggregator Xoma Royalty Corp. The company paid $21.5 million to an affiliate of BioMed Realty to exit its lease early. The terminated lease covered 71,500 square feet of research, development, laboratory, and office space.
Originally slated to expire in 2029, the lease had been in place since 2018, when Generation Bio established its headquarters at the location.
As of the end of 2023, Generation Bio employed 174 people. However, the company underwent significant layoffs throughout 2024 and 2025 following strategic restructurings and its acquisition by Xoma. Xoma has recently been acquiring distressed biotech firms in the Greater Boston area, including the Waltham-based Mural Oncology plc.
This is not the first tenant departure from 301 Binney Street due to acquisition activity. Last year, Kros Bio also exited its roughly 40,500-square-foot lease after being acquired by Concentra Biosciences.
The continued reshuffling of Cambridge’s biotech real estate landscape underscores the ongoing consolidation within the life sciences sector.
