In a released statement, Cambridge Mayor Anthony Galluccio stated, "Forst City and Millenium Pharmaceuticals have been real leaders in the continuing expansion of the cambridge biotech industry. At full build-out, University Park will be responsible for creating 3,000 new jobs, many of which will be filled by Cambridge residents, and contributing ten million dollars annually to the Cambrodge tax base."

The 27-acre biotech park was developed by Cleveland-based Forest City Enterprises and is the area's only corporate park affiliated with a university. Other biotech companies headquartered here include OraVax, Inc., Genzyme Tissue Repair, ETEX Companies, Ariad Pharmaceuticals, Acusphere, Inc., and Cereon Genomics.