TEWKSBURY, MA- Acusphere Inc, entered into a lease agreement for 58,000 sf of commercial manufacturing space. The Watertown-based pharmaceutical company says it intends to develop this facility to meet its anticipated initial commercial production needs for AI-700, the company’s lead drug, currently in Phase III clinical trials and manufactured outside of the state.

The local facility is located within 30 miles of Acusphere’s headquarters in Watertown. It is anticipated that this proximity, and the availability and experience of local resources, will provide operational efficiencies. Lease rates for this deal were not available but the average asking rent for this type of space is approximately $6 per sf.

Earlier this month, Acusphere announced a $70 million partnership agreement with Nycomed, a pan-European pharmaceutical marketing company. Under this agreement, Acusphere will manufacture AI-700 for Nycomed’s sale in Europe. The Tewksbury facility, subject to completion of remodeling and regulatory approvals, will manufacture the product for sale in the US, Europe and elsewhere worldwide.

“Leasing additional manufacturing space at this time reflects our continued optimism in AI-700,” says Sherri C. Oberg, Acusphere president and CEO.

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