Press Release: Flagship Pioneering Expands Biotech Footprint to Property in Somerville’s Boynton Yards
Flagship Pioneering Expands Biotech Footprint to Property in Somerville’s Boynton Yards
Four Flagship start-ups will be first occupants of new space
Cambridge, Mass., March 31, 2021 – Flagship Pioneering, the life sciences platform company headquartered in Cambridge Massachusetts, today confirmed it has leased space at Somerville’s Boynton Yards, with an option to take additional square footage over the next few years.
The expansion will increase Flagship’s overall footprint of 1.5M SF by an additional 208K SF and will be used as both lab and office space by Flagship-found companies Tessera Therapeutics, Cellarity, LARONDE, and others. Initial tenants expect to take occupancy in October 2021. Flagship will have the option on the remaining balance of the building for another 70K SF in 2021 and on an additional building for 300K SF delivered in late 2023.
“Flaship’s expansion into Somerville gives a number of our companies the space they need for their critical growth trajectories while remaining close to Flagship’s wider ecosystem of 40-plus companies within Cambridge,” said Christine Heenan, senior partner at Flagship Pioneering. “Flagship is excited to be one of the first entrants into this emerging community for life science companies in Somerville. We are excited about what the future will hold there, for Flagship and for Somerville.”
Boynton Yards is a 1.3M SF science and innovation campus being developed by DLJ Real Estate Capital Partners and Leggat McCall Properties. The campus will include three Class-A lab and office buildings, the first of which is the life-sciences lab building 101 South Street. The property is less than a mile away from Kendall Square, where Flagship has been a long time resident and community member, and will be served by the MBTA Green Line Extension.
“Somerville is committed to the life science, healthcare, and technology industries and Boynton Yards is critical infrastructure that enables those industries to thrive here,” said Somerville Mayor Joseph A. Curtatone. “That Flagship Pioneering, one of Kendall Square’s preeminent life science companies and founders of Moderna, is one of the first tenants of this new development is a testament to the innovative community we are building in Somerville and we welcome their growth and investment in our city.”
About Flagship Pioneering
Flagship Pioneering conceives, creates, resources, and develops first-in-category life science platform companies to transform human health and sustainability. Since its launch in 2000, the firm has, through its Flagship Labs unit, applied its unique hypothesis-driven innovation process to originate and foster more than 100 scientific ventures, resulting in over $80 billion in aggregate value. To date, Flagship has deployed over $2.3 billion in capital toward the founding and growth of its pioneering companies alongside more than $19 billion of follow-on investments from other institutions. The current Flagship ecosystem comprises 41 transformative companies, including Axcella Health (NASDAQ: AXLA), Codiak BioSciences (NASDAQ: CDAK) Denali Therapeutics (NASDAQ: DNLI), Evelo Biosciences (NASDAQ: EVLO), Foghorn Therapeutics (NASDAQ: FHTX), Indigo Ag, Kaleido Biosciences (NASDAQ: KLDO), Moderna (NASDAQ: MRNA), Rubius Therapeutics (NASDAQ: RUBY), Sana Biotechnology (NASDAQ: SANA), Seres Therapeutics (NASDAQ: MCRB), and Sigilon Therapeutics (NASDAQ:SGTX).
City of Somerville
Boynton Yards Development (DLJ/LMP)
Cushman & Wakefield
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