Coronavirus Research And Development Driving Even More Demand For Boston Lab Space
By Jonathan Berr on April 23, 2020
Massachusetts biotech firms are on the hunt for additional laboratory space in the Boston area to accommodate their research into potential coronavirus vaccines and treatments.
Cambridge-based Moderna and Alnylam Pharmaceuticals have taken on nearly $2.5B in investment to spur therapy and vaccine-related research, adding fuel to the red-hot demand engine of biotech in Boston.
Moderna recently received $483M in federal funding to develop a coronavirus vaccine and has said it plans to hire 150 people. Private equity giant Blackstone plans to invest $2B in Alnylam, which will provide the company with funds to bring late-stage development drugs to the market faster. Alnylam and partner Vir Biotechnology recently announced they were going to develop therapeutics to treat COVID-19 and other diseases caused by coronaviruses.
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