Roche Selects Alexandria Center for Life Science in New York City as Location of Its New Translational Clinical Research Center
Site represents a thriving environment with access to world-class hospitals, academia and innovation
NUTLEY, NJ – September 20, 2012 – Today, Roche (SIX: RO, ROG; OTCQX: RHHBY) announced that the Alexandria Center for Life Science on the East side of Manhattan has been selected as the location for its new Translational Clinical Research Center (TCRC). The TCRC will be the critical early development presence for Roche Pharma Research and Early Development (pRED) in the U.S. Roche has taken an 11-year lease on the property and anticipates moving staff to the new site at the end of 2013, following completion of the Alexandria Center's West Tower. The Alexandria Center is owned and operated by Alexandria Real Estate Equities, Inc. (NYSE: ARE).
"We are very pleased with the selection of the Alexandria Center as this will be a strategically important site for Roche," said Mike Burgess, M.D., Acting Global Head, Roche Pharma Research and Early Development. "We looked at several great properties in New York and New Jersey and selected the Alexandria Center for its unique location as well as the dynamic, vibrant and thriving scientific atmosphere it offers. For Roche research, having the TCRC located in the Alexandria Center will be a critical element in helping us maintain the high caliber of scientific excellence within Roche pRED, carry out our long-term strategic research vision, tap into scientific expertise, and find new and innovative ways to move the drug development process forward."
The TCRC is designed to build upon and enhance connections to U.S. stakeholders, maintain interactions with the Food and Drug Administration (FDA), and enhance collaborations with U.S.-based partners. The Center will take projects from discovery (in Europe) through the Lifecycle Investment Point (i.e., transitioning molecules from early- to late-stage development). Staff at the Center will be responsible for leading global early development programs and clinical trials, as well as developing strategy and implementing translational research programs focused on disease understanding and the development of potential new medicines. Roche will transfer approximately 200 employees from pRED and Product Development in Nutley to the Alexandria Center.
"I also want to recognize and thank the State of New Jersey for the outstanding effort they made to have us consider locating the TCRC in New Jersey," added Dr. Burgess. "Governor Chris Christie and Lt. Governor Kim Guadagno made an extremely compelling case for the unified Rutgers and Robert Wood Johnson complex in New Brunswick. One outcome of their efforts is that we have decided to keep around 50 management-level positions in a Northern New Jersey location."
Roche announced in June that it will streamline pRED's research and development activities and refocus its research portfolio to ensure efficient allocation of resources for the company's expanding late-stage product development pipeline. As part of the process, the Nutley site will be closed and cease business operations at the end of 2013. Roche will then prepare the 119-acre facility site for divestiture and look for a potential buyer for the property.
About Roche Research
Roche believes that a diversity of views, cultures and approaches promote creativity, especially in research and early development. As a result, Roche has three R&D groups within the Pharmaceutical organization: Pharma Research and Early Development (pRED in Europe and China and the TCRC in the U.S.), Genentech Research and Early Development (gRED in California) and Chugai (in Japan). These groups operate independently within the Roche Group, forming hubs of an innovation network that includes alliances with more than 150 outside partners. This unique structure is designed to foster innovation from research and early development through late-stage development and marketing. The TCRC will be the critical early development presence for Roche pRED in the U.S.
Headquartered in Basel, Switzerland, Roche is a leader in research-focused healthcare with combined strengths in pharmaceuticals and diagnostics. Roche is the world's largest biotech company with truly differentiated medicines in oncology, virology, inflammation, metabolism and CNS. Roche is also the world leader in in-vitro diagnostics, tissue-based cancer diagnostics and a pioneer in diabetes management. Roche's personalized healthcare strategy aims at providing medicines and diagnostic tools that enable tangible improvements in the health, quality of life and survival of patients. In 2011, Roche had over 80,000 employees worldwide and invested over 8 billion Swiss francs ($9 billion US) in R&D. The Group posted sales of 42.5 billion Swiss francs ($47.8 billion US). Genentech, United States, is a wholly owned member of the Roche Group. Roche has a majority stake in Chugai Pharmaceutical, Japan. For more information: www.roche.com or www.roche-nutley.com.
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), a self-administered and self-managed real estate investment trust (REIT), is the largest and leading investment-grade REIT focused principally on owning, operating, redeveloping, developing, and acquiring high-quality, sustainable real estate for the broad and diverse life science industry. Founded in 1994, Alexandria was the first REIT to identify and pursue the laboratory niche and has since had the first-mover advantage in every core life science cluster location including Greater Boston, San Francisco Bay, San Diego, New York City, Seattle, Suburban Washington, D.C., and Research Triangle Park. Alexandria's high-credit client-tenants span the life science industry, including renowned academic and medical institutions, multinational pharmaceutical companies, public and private biotechnology entities, U.S. government research agencies, medical device companies, clean technology companies, venture capitalists, and life science product and service companies. As the recognized real estate partner of the life science industry, Alexandria has a superior track record in driving client-tenant productivity and innovation through its best-in-class laboratory and office space, collaborative locations adjacent to leading academic and medical institutions, unparalleled life science real estate expertise and services, and longstanding and expansive network in the life science community, which we believe result in higher occupancy levels, longer lease terms, higher rental income, higher returns, and greater long-term asset value. For more information, please visit www.are.com.
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Darien E. Wilson, Roche
Joel S. Marcus, Alexandria