Alexandria Real Estate Equities, Inc. Continues Its Distinctive, Steadfast and Positive Impact on the Widespread and Complex Mental Health Crisis

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Alexandria Real Estate Equities, Inc.

Feb 27, 2024, 07:00 ET

Alexandria is convening its second mission-critical Alexandria Summit^® on Mental Health today in Washington, DC to advance the development of novel, effective psychiatric therapies to address vast unmet need

PASADENA, Calif., Feb. 27, 2024 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative life science mega campuses in AAA innovation cluster locations, continues to make a distinctive, steadfast and positive impact on the widespread and complex mental health crisis through one of the company's bedrock social responsibility pillars that prioritizes this unprecedented crisis. With more than 1 in 5 American adults living with a mental illness and over 50,000 suicides in the United States in 2023, including over 6,000 veterans who die by suicide annually, the nation's shared societal responsibility to drive forward treatments and solutions to this devastating public health challenge is immense. The National Alliance on Mental Illness estimates that untreated mental illness represents an economic burden to the nation of over $300 billion each year — a number that understates the true costs of these conditions for those afflicted as well as for their families and society.

OneFifteen campus in Dayton, Ohio. Courtesy of Alexandria Real Estate Equities, Inc. (PRNewsfoto/Alexandria Real Estate Equities, Inc.)

Alexandria’s Joel Marcus and Tony Duynstee at the Navy SEAL Foundation’s Warrior Fitness Program West Coast facility grand opening in San Diego in November 2023. Photo credit: Dan Brozo. (PRNewsfoto/Alexandria Real Estate Equities, Inc.)

"The staggering yet often overlooked mental health crisis in our country is the defining public health challenge of our time. We are very proud of the continuing tangible positive impact we have made through our key action and results-oriented initiatives, including our partnership with Verily, an Alphabet company, to pioneer OneFifteen, a one-of-a-kind full continuum of care model to treat addiction, and our crucial long-term efforts to ensure the Navy SEAL Foundation's vital work in addressing the unique physical and mental health needs of our nation's elite warriors," said Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "We are inspired by the life science industry and the renewed interest it is generating in developing medicines for mental health disorders, as demonstrated by the recent advancement of multiple psychiatric therapies, including the first FDA-approved oral treatment for postpartum depression — from Alexandria tenants Biogen and Sage Therapeutics. We call for increased attention and policy action at the federal, state and local levels to transform the way we diagnose, treat and discuss mental illness. Our Alexandria Summit on Mental Health will set an agenda to drive significant reform, catalyze new mission-critical public-private partnerships and influence policy to accelerate innovation that saves lives."

Leveraging Alexandria's leadership position at the vanguard and heart of the $5 trillion secularly growing life science industry and the powerful collective voice of its esteemed Alexandria Summit community, the company, in partnership with former congressman Patrick J. Kennedy and The Kennedy Forum, is holding its second mission-critical Alexandria Summit on Mental Health today in Washington, DC. Alexandria has convened a diverse set of key decision makers, influential life science industry thought leaders, members of Congress, regulatory agency executives and other key policymakers to advance the development of novel, effective psychiatric therapies to address vast unmet need.

The Alexandria Summit on Mental Health will feature a mission-critical panel on the creation of a public-private partnership on biomarkers for depression, which is being led by Alexandria through its formation of a dedicated working group consisting of academics, innovators, non-profits, payors, providers and biopharmaceutical executives. The distinguished group aims to uniquely and impactfully harness advances in biomarker development and clinical trials to develop a modernized, data-driven and personalized framework for guiding patients to the therapies most likely to benefit them.

Alexandria has been leveraging deep partnerships with respected non-profits and leaders in its world-class life science and healthcare network to break the stigma around mental illness, promote mental health as essential to overall health and help drive the development of safe and effective treatments. Mental health issues often co-occur with substance use issues, with roughly 50 percent of individuals with severe mental disorders also impacted by addiction. In 2017, Alexandria and Verily created OneFifteen, a first-of-its-kind evidence-based program in Dayton, Ohio that offers a full continuum of care on a holistic campus ecosystem designed and developed by Alexandria. Since opening in 2019, OneFifteen has treated over 7,500 patients living with addiction and other substance use disorders.

Military personnel and veterans experience mental health and addiction issues at dramatically higher rates than the general U.S. population. Since 2010, Alexandria has been partnering with the Navy SEAL Foundation, enabling it to address the increasing need for specialized mental health support of Naval Special Warfare personnel and veterans. Most recently, Alexandria played an instrumental role in the establishment and launch of the foundation's Warrior Fitness Program West Coast facility in San Diego. The cutting-edge facility provides Navy SEAL warriors and veterans with evidence-based support, advanced technology and expert personnel to help them physically and mentally recover and rebuild from injuries and trauma.

About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500^® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life science mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. Alexandria has a total market capitalization of $33.1 billion and an asset base in North America of 73.5 million SF as of December 31, 2023, which includes 42.0 million RSF of operating properties, 5.5 million RSF of Class A/A+ properties undergoing construction and one near-term project expected to commence construction in the next two years, 2.1 million RSF of priority anticipated development and redevelopment projects and 23.9 million SF of future development projects. Alexandria has a longstanding and proven track record of developing Class A/A+ properties clustered in life science mega campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science and agrifoodtech companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information on Alexandria, please visit www.are.com.

Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding the impact of Alexandria's social responsibility and thought leadership initiatives, practices, investments and progress, the likelihood of continued support, investment and partnership by Alexandria and the potential impacts of such activities on Alexandria's business and tenants, the companies and non-profit organizations in which Alexandria invests or with which Alexandria has strategic relationships, therapies for mental health disorders and the country's addiction and mental health crises. These forward-looking statements are based on Alexandria's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria's forward-looking statements as a result of a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in Alexandria's forward-looking statements, and risks and uncertainties to Alexandria's business in general, please refer to Alexandria's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.