Alexandria Real Estate Equities, Inc. Announces Exclusive Partnership With Lilly To Expand Lilly Gateway Labs To San Diego
Portfolio Pulse from Benzinga Newsdesk
Alexandria Real Estate Equities, Inc. (ARE) has announced an exclusive partnership with Eli Lilly and Company (LLY) to expand Lilly Gateway Labs to San Diego, aiming to accelerate the development of early-stage life science companies. The new site will be located in Alexandria's University Town Center submarket, providing emerging biotech companies with laboratories, collaboration opportunities with Lilly, and access to capital. This initiative builds on the strategic relationship between ARE and LLY since 2008 and leverages San Diego's thriving life science ecosystem. The Gateway Labs San Diego site is expected to open in the first half of 2024.
November 28, 2023 | 1:16 pm
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Alexandria Real Estate Equities, Inc. is expanding its partnership with Eli Lilly to open a new Gateway Labs site in San Diego, which is expected to enhance the local life science ecosystem and potentially increase ARE's real estate footprint and revenue.
The partnership with LLY to expand Gateway Labs in San Diego is directly related to ARE's core business of developing life science real estate. This expansion is likely to attract more tenants and increase ARE's revenue, thus having a positive short-term impact on ARE's stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Eli Lilly's partnership with ARE to expand the Gateway Labs to San Diego aligns with LLY's strategy to foster innovation and collaboration in the life science sector, potentially accelerating the development of new medicines.
LLY's expansion of Gateway Labs to San Diego through the partnership with ARE is expected to enhance its R&D capabilities and collaboration with emerging biotech companies. This strategic move is likely to be viewed positively by investors, suggesting a potential short-term positive impact on LLY's stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80