AdvanCell Signs 128,000 Square Foot, Full Building Lease at IQHQ's Innovation Park in Andover, Massachusetts

AdvanCell signed a long-term lease for the entire ~128,000 square foot 1 Corporate Drive building at IQHQ's Innovation Park in Andover, Massachusetts, bringing newly constructed Phase 2 to 100% leased.

Rhea-AI Summary

AdvanCell signed a long-term lease for the entire ~128,000 square foot 1 Corporate Drive building at IQHQ's Innovation Park in Andover, Massachusetts, bringing newly constructed Phase 2 to 100% leased. The 340,000 square foot campus hosts advanced life science manufacturing, amenities, and infrastructure.

AdvanCell, a clinical-stage radiopharmaceutical company, will use the site as its global headquarters and first U.S. manufacturing facility to scale Lead-212 targeted alpha therapy production, including lead candidate 212Pb-ADVC001 for prostate cancer. Innovation Park also includes Generate Biomedicines (NASDAQ: GENB), which completed a ~$400 million IPO in February 2026.

Argus Jun 22 session

+9.66% close to close Open Argus

Details

News Market Reaction – GENB

On Jun 22, the day this news came out, GENB closed 9.66% above the previous close.

Data tracked by StockTitan Argus for the Jun 22 session.

Key Figures

AdvanCell lease size: 128,000 square feet Innovation Park total size: 340,000 square feet Phase 2 occupancy: 100% leased +3 more

AdvanCell lease size

128,000 square feet

Long-term lease for entire 1 Corporate Drive at Innovation Park

Innovation Park total size

340,000 square feet

Total campus size for IQHQ’s Innovation Park in Andover

Phase 2 occupancy

100% leased

Newly constructed Phase 2 of Innovation Park

Remaining availability

137,000 square feet

Turnkey cGMP space still available at 4 Corporate Drive

Prostate cancer diagnoses

300,000 per year

Approximate annual new prostate cancer cases in the U.S.

Prostate cancer deaths

35,000 per year

Approximate annual prostate cancer deaths in the U.S.

Historical Context

2 past events · Latest: May 28

2 events

1. May 28

   Conference participation

   24h Move

   +0.2%

   Announcement of participation in Goldman Sachs global healthcare conference and webcast.

2. May 7

   Earnings & update

   24h Move

   -11.2%

   Q1 2026 results with sizeable net loss alongside pipeline and cash runway update.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

radioligand therapy, cGMP manufacturing, targeted alpha therapies, psma-targeted alpha therapy, +1 more

5 terms

radioligand therapy medical

"AdvanCell's leadership team brings deep experience in radioligand therapy and a proven track record"

A treatment that uses a small molecule or antibody designed to seek out specific cells and deliver a tiny dose of radiation directly to them, like a guided missile carrying a limited explosive to a particular target rather than carpeting an area. Investors care because successful radioligand therapies can become high-value prescription products with clear market niches, regulatory hurdles, and reimbursement decisions that strongly affect a developer’s revenue and risk profile.

cGMP manufacturing technical

"best-in-class campus suited for cGMP manufacturing and owned by a landlord who understands"

cGMP manufacturing stands for "current Good Manufacturing Practice" and describes regulated factory processes and quality checks that ensure drugs, biologics, or medical products are made safely, consistently, and to required purity standards. For investors, cGMP compliance matters because it reduces the risk of product recalls, regulatory shutdowns, or approval delays—similar to a restaurant passing health inspections so customers keep coming back and the business can keep operating.

targeted alpha therapies medical

"clinical-stage radiopharmaceutical company developing targeted alpha therapies for patients with cancer"

Targeted alpha therapies are medicines that attach tiny sources of powerful, short-range radiation to molecules that seek out cancer cells, delivering a concentrated, local kill while sparing nearby healthy tissue. Investors watch them because their precision can mean stronger clinical benefits and smaller side effects than traditional treatments, which can lead to faster regulatory approval, high pricing power, and significant commercial opportunity—but also complex manufacturing and regulatory risks.

psma-targeted alpha therapy medical

"lead clinical candidate, ²¹²Pb-ADVC001 (ADVC001), is a PSMA-targeted alpha therapy being developed"

A cancer treatment that uses a molecule which seeks out the prostate-specific membrane antigen (PSMA) on tumor cells and delivers tiny but powerful bursts of radiation called alpha particles directly to them. Think of it as a guided missile that detonates only when it reaches the target, which can kill cancer cells with limited damage to nearby tissue. Investors watch this approach because trial results, safety and manufacturing challenges, and regulatory approval determine whether it becomes a commercially viable, high-value therapy.

phase 3 medical

"manufacturing capabilities for Phase 3 and future commercial production"

Phase 3 is the late-stage clinical testing step for a new drug or medical treatment, where the product is given to large groups of patients to confirm effectiveness, monitor side effects, and compare it to standard care. Successful Phase 3 results are often the final scientific hurdle before regulators decide on approval and market launch—like passing a final exam before graduation—and can sharply change a company's valuation and future revenue prospects.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Newly Constructed Phase 2 now 100% Leased

Further Solidifies Innovation Park as Boston's Premier Advanced Manufacturing Destination

BOSTON, June 22, 2026 /PRNewswire/ -- IQHQ, Inc. today announced that AdvanCell has signed a long-term ~128,000 square foot lease for the entire 1 Corporate Drive building at Innovation Park, IQHQ's premier life science and advanced manufacturing campus in Andover, Massachusetts. The transaction is one of the largest life science leases in Greater Boston this year and brings the newly constructed Phase 2 of Innovation Park to 100% leased. AdvanCell's decision to locate at Innovation Park after a broad search and competitive process underscores the strength of the park – as measured by access to talent, utilities, and purpose-built infrastructure in an idyllic, heavily amenitized campus.

Innovation Park is situated within an established and growing life science manufacturing corridor, where users pull well-trained talent from Greater Boston as well as Southern New Hampshire. The campus benefits from robust, in-place infrastructure in a municipality that welcomes these uses; Andover holds MassBio's Platinum BioReady designation, which is the highest of MassBio's four-tier rating system. AdvanCell will also join Generate Biomedicines, Inc. (NASDAQ: GENB) on campus, a Flagship Pioneering spinout that recently completed its ~$400 million initial public offering in February 2026. In total, Innovation Park is 340,000 square feet and beyond requisite infrastructure it also offers best-in-class amenities including a full-service café and coffee bar, a high-end fitness center with locker rooms, large communal conferencing, EV charging, bike storage, and 24/7 facility management and security. Read more about the campus here: Innovation Park

"IQHQ is pleased to welcome AdvanCell to Innovation Park, and we look forward to being in business together long term" said TJ Silvey, Chief Investment Officer of IQHQ. "AdvanCell's leadership team brings deep experience in radioligand therapy and a proven track record of building successful commercial-scale companies and delivering approved therapies to patients. IQHQ's mission is to support companies like AdvanCell with capital and space to move their science forward, and we are proud to be their partner."

AdvanCell is a clinical-stage radiopharmaceutical company developing targeted alpha therapies for patients with cancer. The company's lead clinical candidate, ²¹²Pb-ADVC001 (ADVC001), is a PSMA-targeted alpha therapy being developed for prostate cancer, a disease that accounts for approximately 300,000 new diagnoses and 35,000 deaths in the U.S. each year. The Andover site is expected to support AdvanCell's continued growth as the company advances ADVC001 toward late-stage development and scales its proprietary Lead-212 manufacturing capabilities for Phase 3 and future commercial production.

"Innovation Park is the ideal setting for our global headquarters and first manufacturing site in the U.S. — a well-located, best-in-class campus suited for cGMP manufacturing and owned by a landlord who understands advanced therapeutic manufacturing," said Dayle Hogg, Chief Operating Officer of AdvanCell. "This site will be foundational to AdvanCell's next stage of growth, enabling us to scale our proprietary Lead-212 targeted alpha therapy manufacturing for Phase 3 and future commercial production. We appreciate IQHQ's partnership and the city of Andover's support."

IQHQ still has one remaining ~137,000 square foot availability at Innovation Park, which is 100% completed turnkey cGMP space comprised of fully facilitized Grade B, C and D clean rooms, lab, office, warehouse and support areas for an integrated life science manufacturing operation. This space at 4 Corporate offers unmatched speed-to-market for a user seeking a facility that is ready to manufacture in and requires no upfront capital for improvements. Prospective tenants and brokers can explore the Innovation Park campus and view the latest availability at 4 Corporate Drive here.

About IQHQ
IQHQ owns and develops purpose-built life science and advanced technology real estate in Boston, San Francisco, San Diego and the Golden Triangle, UK. Our districts offer best-in-market locations, unmatched access to talent via strong transit access, differentiated amenities and cutting-edge architecture and design. We have a long track record of partnering with leading innovators to deliver the capital and space they need to advance their mission. To learn more, visit iqhqreit.com.

About AdvanCell
AdvanCell is a vertically integrated, clinical-stage radiopharmaceutical company dedicated to developing innovative cancer therapies that harness the power of targeted alpha-emitting radionuclides. By leveraging its proprietary Lead-212 platform, advanced and scalable manufacturing and world-class clinical development capabilities, AdvanCell aims to deliver novel treatments that improve outcomes for patients with cancer globally. For more information, visit www.advancell.com.au and follow us on LinkedIn.

Media Contact
TJ Silvey
Chief Investment Officer
tjsilvey@iqhqreit.com

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SOURCE IQHQ, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What lease did AdvanCell sign at Innovation Park in Andover related to GENB?

AdvanCell signed a long-term lease for the entire ~128,000 square foot 1 Corporate Drive building at Innovation Park. According to IQHQ, this makes newly constructed Phase 2 fully leased and further builds the life science ecosystem that also includes Generate Biomedicines (NASDAQ: GENB).

How does the AdvanCell lease impact IQHQ's Innovation Park occupancy near Generate Biomedicines (GENB)?

The AdvanCell lease brings Phase 2 of Innovation Park to 100% leased, strengthening the campus’ advanced manufacturing cluster. According to IQHQ, the 340,000 square foot park now combines full Phase 2 occupancy with existing tenants such as Generate Biomedicines (NASDAQ: GENB).

What will AdvanCell use its new Andover headquarters and manufacturing site for?

AdvanCell plans to use the Andover facility as its global headquarters and first U.S. manufacturing site. According to AdvanCell, the site will support late-stage development of 212Pb-ADVC001 and scale proprietary Lead-212 targeted alpha therapy manufacturing for Phase 3 and future commercial production.

What cancer therapy is AdvanCell developing at Innovation Park near GENB's facilities?

AdvanCell is developing 212Pb-ADVC001, a PSMA-targeted alpha therapy for prostate cancer. According to AdvanCell, prostate cancer accounts for about 300,000 new U.S. diagnoses and 35,000 deaths annually, and the Andover site will help advance this program toward late-stage development and manufacturing scale-up.

What amenities and infrastructure does IQHQ's Innovation Park offer tenants like AdvanCell and GENB?

Innovation Park offers purpose-built life science infrastructure plus amenities such as a full-service café, coffee bar, fitness center with locker rooms, communal conferencing, EV charging, bike storage, and 24/7 management and security. According to IQHQ, the campus also provides fully facilitized cGMP space for integrated manufacturing.

What space remains available at IQHQ Innovation Park after the AdvanCell lease?

One ~137,000 square foot availability remains at 4 Corporate Drive, offering turnkey cGMP space. According to IQHQ, it includes Grade B, C and D clean rooms, lab, office, warehouse and support areas, enabling rapid speed-to-market without upfront capital for improvements for future life science tenants.