BMR, Broad Institute Partner in Cambridge

CAMBRIDGE, MA—Furthering what is already a considerable presence for the REIT in Greater Boston's life sciences sector, BioMed Realty Trust Inc. and the Broad Institute of MIT and Harvard on Wednesday said they had formed a strategic partnership to foster innovation and promote relationships between academia and the life science industry. BMR's strategic investment group, BioMed Ventures, will work with the Broad Institute to engage the biomedical community via events designed to bring together thought leaders from academia, biotech and pharmaceutical companies and the investment community.

"One of the founding principles of the Broad Institute is that collaboration unlocks new possibilities in biomedical research,” says Issi Rozen, director of strategic alliances at the Broad Institute. “We are pleased to partner with BioMed Realty to create new collaboration opportunities and drive innovation.”

Both partners have made real estate-related moves in recent months to further the climate of innovation along the Cambridge biotechnology corridor. In May, the Broad Institute—founded by MIT, Harvard and Los Angeles philanthropists Eli and Edythe L. Broad—opened a 375,000-square-foot research building at 75 Ames St. in Cambridge's Kendall Square, adjacent to the institute's existing 7 Cambridge Center location. It was designed expressly to facilitate the sharing of ideas, with a flexible floor plan that integrates lab and office space on every floor, allowing large multidisciplinary research teams, administrative teams and small academic groups to work side-by-side.

Last month, GlobeSt.com reported that San Diego-based BMR had signed Baxter Healthcare Corp. to a 12-year lease deal for 200,000 square feet at 650 East Kendall St., where it will establish a major biopharmaceutical research and development center. Baxter will be establishing a new global innovation and research and development center at the site for its biopharmaceuticals business, which is expected to become a separate, independent global company, known as Baxalta Inc., in mid-2015.