Lilly opens state-of-the-art research and development center in the Boston Seaport

Rhea-AI Summary

Eli Lilly and Company (NYSE: LLY) has opened the Lilly Seaport Innovation Center (LSC) in the Boston Seaport, a state-of-the-art research and development facility focused on advancing RNA and DNA-based therapies. The 346,000 square foot, 12-story building will house approximately 500 Lilly scientists and researchers, plus 200 people from Lilly Gateway Labs' companies. LSC serves as the central hub for Lilly's genetic medicines efforts and includes the first East Coast Lilly Gateway Labs location.

The facility aims to discover new drug targets for creating life-changing medicines in areas such as diabetes, obesity, cardiovascular diseases, neurodegeneration, and chronic pain. This expansion reinforces Lilly's commitment to the Boston area and fosters collaboration with leading institutions to accelerate the development of novel medicines.

Positive

• Opening of a large 346,000 square foot R&D facility in the Boston Seaport
• Expansion of research capabilities in RNA and DNA-based therapies
• Accommodation for 500 Lilly scientists and researchers, plus 200 from Gateway Labs companies
• Establishment of the first East Coast Lilly Gateway Labs location

Negative

• None.

Lilly Seaport Innovation Center (LSC) serves as the central hub for Lilly's genetic medicines efforts and houses the first East Coast Lilly Gateway Labs

New 346,000 square foot facility will accommodate approximately 500 Lilly scientists and researchers, in addition to 200 people from Lilly Gateway Labs' companies

INDIANAPOLIS, Aug. 13, 2024 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced the opening of the Lilly Seaport Innovation Center (LSC), a research and development facility in the Boston Seaport dedicated to advancing Lilly's efforts in RNA and DNA-based therapies as well as discovering new drug targets to create life-changing medicines across several disease states, including diabetes, obesity, cardiovascular diseases, neurodegeneration and chronic pain.

"The opening of LSC expands upon Lilly's long-standing presence in the Boston area," said Daniel Skovronsky, M.D., Ph.D., chief scientific officer and president, Lilly Research Laboratories, president, Lilly Immunology. "We are committed to being supportive neighbors in this hub of discovery and innovation, further collaborating with leading institutions and new talent to continue delivering transformative medicines for the people who need them most." 

LSC occupies 346,000 square feet in a 12-story building, developed and operated by Alexandria Real Estate Equities, Inc. (ARE), in the rapidly expanding Seaport district of Boston. The new site includes laboratories and office space and will also house the first Lilly Gateway Labs location on the East Coast, fostering a culture of shared expertise and real-time learning to accelerate the development of novel medicines. LSC will accommodate approximately 500 Lilly scientists and researchers, in addition to 200 people from the companies within Lilly Gateway Labs.

About Lilly Gateway Labs
Lilly Gateway Labs is a best-in-class innovation hub that connects promising, early-stage biotechs to the power of Lilly's expertise. By fostering scientific breakthroughs and helping biotechs remove hurdles, we help companies speed the development of life-changing medicines for patients around the world. We apply a one-of-a-kind, hands-on approach to scientific engagement, offering not just state-of-the-art wet lab spaces and strong operational support, but also curating programs to help biotechs avoid common pitfalls. Our flexible model ensures companies can execute on their scientific vision while maintaining full ownership of their intellectual property. Since opening in December 2019, Gateway Labs in San Francisco has hosted over 20 biotech companies, with more than 50 therapeutics and platforms currently in development, and more than $1 billion raised by partner companies. In 2024, Gateway Labs is expanding to four sites across San Francisco, San Diego, and this new site in Boston to meet the needs of emerging biotechs in thriving life science communities. For more information on Gateway Labs, visit www.gatewaylabs.lilly.com.

About Lilly 
Lilly is a medicine company turning science into healing to make life better for people around the world. We've been pioneering life-changing discoveries for nearly 150 years, and today our medicines help tens of millions of people across the globe. Harnessing the power of biotechnology, chemistry and genetic medicine, our scientists are urgently advancing new discoveries to solve some of the world's most significant health challenges: redefining diabetes care; treating obesity and curtailing its most devastating long-term effects; advancing the fight against Alzheimer's disease; providing solutions to some of the most debilitating immune system disorders; and transforming the most difficult-to-treat cancers into manageable diseases. With each step toward a healthier world, we're motivated by one thing: making life better for millions more people. That includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more, visit Lilly.com and Lilly.com/news, or follow us on Facebook, Instagram and LinkedIn. C-LLY

Cautionary Statement Regarding Forward-Looking Statements 
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about Lilly Seaport Innovation Center (LSC) and reflects Lilly's current beliefs and expectations. However, there can be no assurance that LSC or the science being conducted there will achieve Lilly's objectives or that Lilly will execute its strategy as planned. For further discussion of risks and uncertainties relevant to Lilly's business that could cause actual results to differ from Lilly's expectations, see Lilly's Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.

Refer to:     Stefanie Prodouz; stefanie.prodouz@lilly.com; +1-317-287-9899 (Media)

                   Joe Fletcher; jfletcher@lilly.com; +1-317-296-2884 (Investors)

 

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SOURCE Eli Lilly and Company

FAQ

What is the Lilly Seaport Innovation Center (LSC) and when did it open?

The Lilly Seaport Innovation Center (LSC) is a state-of-the-art research and development facility opened by Eli Lilly and Company (LLY) in the Boston Seaport on August 13, 2024. It serves as the central hub for Lilly's genetic medicines efforts and houses the first East Coast Lilly Gateway Labs.

How many employees will the new Lilly Seaport Innovation Center accommodate?

The Lilly Seaport Innovation Center (LSC) will accommodate approximately 500 Lilly scientists and researchers, in addition to 200 people from the companies within Lilly Gateway Labs, totaling about 700 employees.

What are the main research areas for Eli Lilly's (LLY) new Seaport Innovation Center?

The Lilly Seaport Innovation Center (LSC) focuses on advancing RNA and DNA-based therapies and discovering new drug targets for diseases including diabetes, obesity, cardiovascular diseases, neurodegeneration, and chronic pain.

What is the size of Eli Lilly's (LLY) new research facility in Boston?

Eli Lilly's (LLY) new Lilly Seaport Innovation Center (LSC) in Boston occupies 346,000 square feet in a 12-story building in the Seaport district.