SOUTH PLAINFIELD, NJ—In a nod to New Jersey’s growing strength in the life sciences markets, PTC Therapeutics, has signed a long-term lease agreement with Bristol-Myers Squibb Co. for 185,000 square feet of space. The lease covers an existing biologics production facility and supporting research and operations buildings on the BMS Hopewell, NJ campus.
PTC plans to further develop the biologics facility to support gene therapy production. In addition, PTC plans to move its research operations to a newly renovated building on the same campus. These facilities will complement existing operations at PTC global headquarters in South Plainfield.
“Obtaining this facility allows PTC to execute on our plans of rapidly advancing our gene therapy pipeline,” said PTC Therapeutics CEO Stuart W. Peltz, in prepared remarks. “Access to best-in-class technology and highly qualified biologics operation specialists is key for PTC to meet our goal of becoming a leader in gene therapy.”
The facility is located on an existing BMS property encompassing over a million square feet, which BMS is transitioning to a multi-tenant research and development campus. PTC intends to initially dedicate the cGMP suites on the site, which were recently renovated, to produce material to serve multiple pre-clinical and clinical programs, adding to the current pre-clinical production capacity in Bridgewater. Together with the start-up of the gene therapy development and production operations, PTC plans to relocate and expand its global discovery and research operations to the same site in 2020.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
