Newmark is pleased to announce that Newmark Executive Managing Directors Richard Ruggiero and Mark Winters recently represented Replimune Group, Inc., a Nasdaq-listed biotechnology company developing oncolytic immunotherapies derived from its ImmulyticTM platform, in leasing 63,278 square feet from King Street Properties at 33 New York Avenue in Framingham, Massachusetts. Replimune will build-out the space to serve as a new, state-of-the-art office/lab/pharma manufacturing space.
Founded in 2015, Replimune is headquartered in Woburn, Massachusetts. Replimune recently raised more than $100 million in its IPO of common stock. Due to the firm’s recent growth, Replimune selected Newmark to assist with site selection analysis for a pharma manufacturing location. Once construction and validation are complete, the new full-service GMP facility in Framingham will be used to produce Replimune’s product candidates and ultimately support product launch, pending successful completion of clinical studies and regulatory review. Replimune will take occupancy of the new space once the initial shell build-out is completed in Q3 2019.
“We are pleased to have assisted Replimune is this transaction, allowing Replimune to locate a state of the art facility to accommodate its expanding business needs,” said Ruggiero. “33 New York Avenue was the perfect fit for our client, due to its centralized location, planned renovation, and ownership’s depth of life science experience.”
King Street Properties, an owner/operator of life science real estate in greater Boson, acquired 33 New York Avenue in February 2018. The single-story building had been vacant since December 2017, when Metro West Daily News relocated its offices. King Street Properties is renovating the property and expanding it with a 9,000-square-foot addition, bringing the total square footage to 107,350. In addition, the firm plans to create new pedestrian walkways, make parking improvements, and add new landscaping.
Newmark represented Replimune in the lease negotiations and Kevin Hanna and Paul Leone of Cushman & Wakefield represented the landlord, King Street Partners, in the transaction.
Replimune Group Inc., headquartered in Woburn, MA, was founded in 2015 to develop the next generation of “oncolytic immunotherapies” for the treatment of cancer. Replimune is developing novel, proprietary therapeutics intended to improve the direct cancer-killing effects of selective virus replication and the potency of the immune response to the tumor antigens released. The Company’s ImmulyticTM platform is designed to maximize systemic immune activation, in particular to tumor neoantigens, through robust viral mediated immunogenic tumor cell killing and the delivery of optimal combinations of immune activating proteins to the tumor and draining lymph nodes. The approach is expected to be highly synergistic with immune checkpoint blockade and other approaches to cancer treatment. Replimune intends to progress these therapies rapidly through clinical development in combination with other immuno-oncology products with complementary mechanisms of action. For more information, please visit www.replimune.com.
Newmark (“Newmark”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 16,000 professionals operate from approximately 430 offices on six continents. Newmark’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (“BGC”) (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
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