ANDOVER, Mass. — AdvanCell has signed a long-term lease for the entire 128,000-square-foot building at 1 Corporate Drive in IQHQ’s Innovation Park, bringing the newly completed second phase of the Andover life science campus to full occupancy.
The transaction is among the largest life science leases completed in Greater Boston this year and marks the clinical-stage radiopharmaceutical company’s first U.S. manufacturing site and global headquarters.
AdvanCell develops targeted alpha therapies for cancer and plans to use the facility to support the late-stage development of its lead prostate cancer therapy candidate while expanding its proprietary Lead-212 manufacturing capabilities for Phase 3 clinical trials and future commercial production.
“Innovation Park is the ideal setting for our global headquarters and first manufacturing site in the U.S.,” said Dayle Hogg, chief operating officer of AdvanCell. “This site will be foundational to AdvanCell’s next stage of growth.”
IQHQ said the lease brings the newly constructed Phase 2 of Innovation Park to 100% leased. The 340,000-square-foot campus is designed for life science manufacturing and features purpose-built infrastructure, laboratory and manufacturing space, along with amenities including a fitness center, café, conference facilities and electric vehicle charging.
“IQHQ is pleased to welcome AdvanCell to Innovation Park,” said TJ Silvey, chief investment officer at IQHQ. “Our mission is to support companies like AdvanCell with capital and space to move their science forward.”
The campus is located within Andover’s growing life science manufacturing corridor and is home to Generate Biomedicines. IQHQ said approximately 137,000 square feet of turnkey cGMP manufacturing space remains available in another building at Innovation Park.
