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A Cambridge-based pharmaceuticals company has signed a 15-year lease for a 200,000-square-foot drug manufacturing facility at 100 Tech Drive in Norwood.
Moderna Pharmaceuticals is a clinical stage biotech company founded in 2011 that specializes in therapies for infectious diseases, rare diseases, immuno-oncology, cardiovascular disease and pulmonary diseases. Moderna has two Phase 1 human studies underway in the U.S. and Europe for infectious disease vaccines.
Known as Upland, the property is owned by Braintree-based Campanelli and TriGate Capital of Dallas, Texas.
The company will begin initial build-out of the new facility in October 2016 and plans to open the facility by early 2018.
Newmark Grubb Knight Frank’s Mike Frisoli, Taryn Wilson and Matt Morgan represented ownership. Moderna was represented by JLL’s Peter Bekarian, Tom Kent and Don Domoretsky.
The campus also includes One Upland, a newly developed 262-unit luxury apartment community.
Moderna’s transaction is the latest in a series of major pharmaceutical manufacturing expansion projects in the Boston suburbs.
Pfizer broke ground in July on a $200 million, 175,000-square-foot biologics clinical manufacturing facility at its Burtt Road campus in Andover.
Cambridge-based Alnylam Pharmaceuticals agreed to build a $200 million manufacturing plant in Norton after acquiring a 12-acre site in February and broke ground in April.
The state’s Economic Assistance Coordinating Council last week approved Siemens Healthcare Diagnostics Inc.’s $300 million expansion of its Walpole headquarters, a project which was aided by a 20 year tax increment financing agreement approved by the town for $18.3 million and a $735,000 tax incentive agreement from the Massachusetts Life Sciences Center.
