Breakthrough Properties to Welcome Three Mission-Driven Biotech Companies to One Canal Development in the Heart of Cambridge

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May 22, 2024, 10:54 ET

Leases with Deep Genomics, Larkspur Biosciences and Incendia Therapeutics Executed Upon Substantial Construction Completion, Anchoring Breakthrough's East Cambridge Waterfront Building

BOSTON, May 22, 2024 /PRNewswire/ -- Breakthrough Properties, a leading global developer, owner, and operator of life sciences real estate, today announced it has secured agreements with several mission-driven biotech companies to occupy One Canal by Breakthrough, its recently-redeveloped four-story lab and office building in East Cambridge, Massachusetts.

One Canal by Breakthrough - Richard Gayle Photography

Prebuilt suites across two floors of the high-quality research and development building were leased to Larkspur Biosciences, Incendia Therapeutics and Deep Genomics and will be fully occupied concurrent with construction completion. Construction on suites for One Canal's two remaining floors is underway, with completion slated for the first quarter of 2025.

One Canal encompasses 112,000 square feet of new lab and office space within one of the world's top innovation ecosystems. The building features flexible lab and office layouts, a ground floor lounge, high quality fitness center, first and second floor collaboration spaces, building concierge, a winter garden, waterfront views of the canal and park, above-market parking ratio and onsite retail options.

Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, acquired One Canal in 2021 and has transformed it into a world-class life science research center catering to biotech companies in the heart of the bustling ecosystem of the East Cambridge market.

"We are thrilled to welcome Incendia, Larkspur Biosciences and Deep Genomics to the stunning new ecosystem we have cultivated at One Canal," said Breakthrough Properties Chief Business Officer Susie Harborth. "These companies are at the forefront of next-generation technologies including AI and machine learning, precision-oncology and RNA-based therapies. We look forward to expanding this community of innovative, impact-driven companies at our premier One Canal site."

"We are excited to partner with Breakthrough in this next phase of Larkspur's evolution," said Larkspur CEO Catherine Sabatos-Peyton. "One Canal is a unique space as a state-of-the-art research building that blends bright, open, modern spaces with purpose-built labs. Our team is energized by the opportunity to work and grow in this space as we concentrate on our mission to develop novel precision therapies for patients with cancer."

"We are thrilled to be moving our operations into One Canal," said Incendia Therapeutics CEO Wendye Robbins. "It has been a privilege to work with the Breakthrough team to make this possible. They were flexible. They recognized our critical needs and exceeded our expectations every step of the way. We look forward to a successful partnership together."

Situated along the First Street corridor which connects Kendall Square MBTA Redline to the new Lechmere Green Line T station, One Canal offers companies an unbeatable environment surrounded by an amenity-rich neighborhood. It is located in close proximity to Downtown Boston's diverse residential, retail and dining options, and within walking distance of multiple parks and open spaces, including direct access to the Charles River. One Canal is also adjacent to the redeveloped CambridgeSide Galleria and other neighbors include Sanofi and Bristol Myers Squibb (BMS) innovation hub.

Tishman Speyer Managing Director Jessica Hughes added, "Designed to take full advantage of its prime location and limited local availability, One Canal has quickly become a magnet for innovative companies that appreciate this rare opportunity to secure ultra-modern lab space within a thriving East Cambridge ecosystem."

Breakthrough remains one of the most active players in the life science sector with more than five million square feet of projects in the pipeline across the United States and Europe. In Boston, Breakthrough developed, owns and manages The 105 by Breakthrough at 105 West First Street. Breakthrough is also currently developing two life science buildings at the Harvard Enterprise Research Campus in Allston and pursuing entitlements for a modern lab and office environment to be located at 232 A Street along the Fort Point Channel waterfront.

Breakthrough's ongoing commitment to sustainability involves a particular emphasis on increasing energy efficiency, reducing carbon emissions and providing healthy workspaces for users, including by aiming for Fitwel and WELL certifications. Breakthrough also targets LEED Gold certification at its United States properties, as well as BREEAM Outstanding certification in all of its projects across the United Kingdom and EU markets.

About Breakthrough Properties (www.btprop.com)
Formed in 2019 as a joint venture between global real estate owner, developer, and investor Tishman Speyer and biotechnology investment firm Bellco Capital, Breakthrough Properties is a life science real estate development company that leverages cross-sector collaboration to deliver environments that foster innovation and scientific breakthroughs. Breakthrough Properties' mission is to acquire, develop and operate the best life science properties in leading urban technology centers around the world and support scientific innovation across biotechnology, agriculture, and nutrition. Breakthrough combines Tishman Speyer's decades of global real estate development experience with Bellco Capital's industry-making biotechnology entrepreneurship to reimagine environments where companies can create life-changing therapies for patients.

About Larkspur Biosciences
Larkspur Biosciences is pioneering a new wave in cancer therapy that stops immune evasion where it starts: in the tumor. Larkspur's approach targets cancer-intrinsic factors that tumors use to escape immune detection and control to develop new treatment options for patients who cannot be helped by current therapies. The company is advancing first-in-class programs designed to eliminate tumor "bottlenecks" that drive immune evasion in colorectal cancer (CRC) and beyond. LarkX, the company's proprietary bioinformatics platform, couples machine learning with tumor genetics to discover immune evasion pathways that originate in the tumor and enrich clinical strategies for potential responders to its therapies across multiple types of cancer. Larkspur's founders include Lewis C. Cantley, PhD, professor of medicine at Dana-Farber Cancer Institute, professor of cell biology at Harvard Medical School; Vijay K. Kuchroo, DVM, PhD, professor of neurology at Harvard Medical School, senior scientist at Brigham and Women's Hospital; and Nathanael Gray, PhD, professor of chemical and systems biology at Stanford University.

About Incendia Therapeutics
Incendia Therapeutics is discovering and developing a novel class of experimental therapeutics that reprogram the tumor microenvironment (TME). Incendia's platform is based on rigorous, groundbreaking research involving spatial characterization of the tumor microenvironment, multi-omics data integration, and extensive preclinical testing. The Company's most advanced experimental molecule, PRTH-101, is in a Phase 1 clinical trial for the treatment of patients with advanced solid tumors.

About Deep Genomics
Deep Genomics is a biopharmaceutical company that aims to revolutionize drug development by leveraging expertise in artificial intelligence (AI) to decode RNA biology. Our proprietary platform, the AI Workbench, enables us to decode the enormous complexity of RNA biology to find novel targets, mechanisms, and molecules that are not accessible through traditional methods. We use this advanced technology to develop steric-blocking oligonucleotides (SBOs) that achieve expression increase for the treatment of genetic disease. Founded in 2015, our multidisciplinary team includes expertise in a diverse range of disciplines including those found in a traditional drug company, as well as machine learning, laboratory automation, and software engineering. Deep Genomics is located in Toronto, Ontario and Cambridge, Massachusetts.

SOURCE Breakthrough Properties