Alexandria Real Estate Equities, Inc.'s One-of-a-Kind, Essential Labspace Platform Empowers the Integration and Enhancement of Biological Discoveries Enabled by AI to Widen the Opportunities for and Accelerate the Development of Novel Medicines
Alexandria is well positioned to support companies in the growing area of AI-enhanced laboratory-based research and development, which is contributing to demand for advanced laboratory infrastructure requirements
PASADENA, Calif., Sept. 27, 2023 /PRNewswire/ -- Alexandria Real Estate Equities, Inc. (NYSE: ARE), the first, preeminent, longest-tenured and pioneering owner, operator and developer of collaborative life science, agtech and advanced technology mega campuses in AAA innovation cluster locations, has been strategically developing and operating high-quality Labspace® infrastructure for, and investing in, some of the most advanced and innovative biopharmaceutical companies leveraging artificial intelligence (AI) and machine learning (ML) platforms for more than a decade. The power of AI/ML is derived from high-quality experimental data generated by scientists in the laboratory. Discovering and harnessing novel biology is the key to unlocking safe and effective new medicines, and AI is a remarkable tool in this pursuit. Importantly, the complexity and volume of laboratory-generated data needed to train AI/ML models requires highly integrated research and development infrastructure, resulting in more specialized technical laboratory space requirements.
"Using advanced imaging systems, we generate more than a petabyte of data each week that would simply be impossible to interpret without the proprietary AI and machine learning tools developed in our laboratories," said Roger M. Perlmutter, MD, PhD, chief executive officer and chairman of Eikon Therapeutics, board director of insitro and NGM Biopharmaceuticals, Inc. and former executive vice president R&D of Merck and Amgen. "Access to superb facilities is crucial for the development of our new medicines: it provides the substrate for the integration of engineering and biomedical research that is our hallmark. We are proud to be part of the remarkable community that Alexandria has created in New York City, and to be partnering with Alexandria to develop our new headquarters in the San Francisco Bay Area."
In addition to Eikon Therapeutics, insitro, an ML-powered drug discovery and development company, is a tremendous example of Alexandria tenants and venture investment companies utilizing AI/ML models to complement and accelerate their experiments. Recognizing the immense potential of insitro's innovative platform combining biology and AI with scalable laboratory experiments to enable better medicines for patients, Alexandria invested in the company's Series A financing in 2018. Alexandria has also provided mission-critical real estate to insitro in South San Francisco since early 2019. More recently, Alexandria was an early investor in Generate:Biomedicines, a clinical-stage biotherapeutics company applying an ML-powered generative biology platform to develop novel therapeutics.
"AI is powering the future of drug discovery and development, and biotechnology companies will need high-quality laboratory space to generate the critical data needed to benefit from the coming AI-enabled scientific era," said Noubar Afeyan, PhD, founder and chief executive officer of Flagship Pioneering and co-founder and chairman of Moderna and Generate:Biomedicines. "Alexandria is an important strategic partner in providing critical laboratory space to many of our companies working at the intersection of biology and AI to pioneer new platforms and speed the innovation supply chain in order to get new medicines to patients faster."
With strong balance sheets and significant free cash flows to fuel innovation and growth, multinational pharmaceutical companies, which represent 17% of Alexandria's annual rental revenue as of June 30, 2023, also widely deploy AI/ML throughout the research and development process to bring more precise and effective medicines to patients. As a testament to the widespread adoption and utilization of AI across the life cycle of drug development, in 2021 there were over 100 drug and biologic submissions to the U.S. Food and Drug Administration developed using AI and machine learning components.
"AI and machine learning have been utilized for decades across the life science industry, including as integral tools in the development of many approved therapies — this is not a new phenomenon," said Hallie E. Kuhn, PhD, senior vice president of science and technology and capital markets at Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments. "These algorithms require large and high-quality data sets that are generated from experiments conducted in laboratories, and novel therapies will always require extensive laboratory testing to confirm their safety and efficacy before advancing to human studies, which contributes to the continued need for specialized R&D laboratory space."
About Alexandria Real Estate Equities, Inc.
Alexandria Real Estate Equities, Inc. (NYSE: ARE), an S&P 500® company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator and developer of collaborative life science, agtech and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland and Research Triangle. The trusted partner to approximately 825 tenants, Alexandria has a total market capitalization of $30.6 billion and an asset base in North America of 74.9 million SF as of June 30, 2023, which includes 41.1 million RSF of operating properties and 5.3 million RSF of Class A/A+ properties undergoing construction, 9.4 million RSF of near-term and intermediate-term development and redevelopment projects and 19.1 million SF of future development projects. Alexandria has a longstanding and proven track record of developing Class A/A+ properties clustered in life science, agtech and advanced technology mega campuses that provide our innovative tenants with highly dynamic and collaborative environments that enhance their ability to successfully recruit and retain world-class talent and inspire productivity, efficiency, creativity and success. Alexandria also provides strategic capital to transformative life science, agrifoodtech, climate innovation and technology companies through our venture capital platform. We believe our unique business model and diligent underwriting ensure a high-quality and diverse tenant base that results in higher occupancy levels, longer lease terms, higher rental income, higher returns and greater long-term asset value. For more information on Alexandria, please visit www.are.com.
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, without limitation, statements regarding the potential impacts of Alexandria's investment decisions, AI and ML, laboratory-generated data and laboratory infrastructure on Alexandria's tenants, the development of new medicines, the advancement of AI and ML technologies, the likelihood of continued support, investment and partnership by Alexandria, and the demand for real estate investment opportunities. These forward-looking statements are based on Alexandria's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by Alexandria's forward-looking statements as a result of a variety of factors, including, without limitation, the risks and uncertainties detailed in its filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release, and Alexandria assumes no obligation to update this information. For more discussion relating to risks and uncertainties that could cause actual results to differ materially from those anticipated in Alexandria's forward-looking statements, and risks and uncertainties to Alexandria's business in general, please refer to Alexandria's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and any subsequently filed quarterly reports on Form 10-Q.
CONTACT: Sara Kabakoff, Senior Vice President – Chief Content Officer, (626) 788-5578, skabakoff@are.com
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