An elite research hub launches include the first academic-industry drug discovery incubator in San Diego. BioMed Realty, a Blackstone portfolio company, and the University of California, San Diego (UC San Diego) kicked-off their grand opening at the Center for Novel Therapeutics (CNT) on the UC San Diego Science Research Park campus. This new 137,500 square food research hub leverages the strength of UC San Diego Moores Cancer Center with private sector companies seeking to translate research into cancer therapies worldwide.
A $92 Million Investment
BioMed Realty has invested $92 million to make this exciting initiative a reality. A Blackstone portfolio company focusing on life science real estate investments. Called the Center for Novel Therapeutics, it will leverage the already extensive San Diego-based life science cluster to support bringing new therapies to market.
CNT: Bench to Bedside
CNT represents a “bench to bedside” approach infusing into the culture the mission to make the transition of research from laboratory space into the clinic and finally offered to the patients in the form of new therapies.
Prominent Speakers for the Opening Celebration
The following prominent San Diego-area leaders chimed in on the new center.
- Pradeep K. Khosla, Chancellor of UC San Diego
- Tim Schoen, President and Chief Executive Officer of BioMed Realty
- Nadeem Meghji, Senior Managing Director, Head of Real Estate Americas at Blackstone
- Scott Lippman, MD, Director of UC San Diego Moores Cancer Center
- Thomas Kipps, MD, Ph.D., Professor of Medicine at UC San Diego and Deputy Director of Research Operations at UC San Diego Moores Cancer Center
- Dr. Nagahiro Minato, Executive Vice President for Strategy, Coordination, Research, Planning and Hospital Administration and Provost at Kyoto University in Japan
- Stephen Schoenberger, Ph.D., Professor, La Jolla Institute for Immunology
San Diego Area Life Sciences Cluster
According to the Biocom Life Science Association of California, the state’s life science industry provides nearly 1.3 million jobs, with economic activity generating a total of $346 billion in 2018 alone. BioMed Realty, which is headquartered in San Diego, has invested approximately $1.1 billion in life science-focused real estate projects in the state of California since its privatization by Blackstone in 2016. The Company now has more than 129 tenant partners in 45 purpose-built life science properties in California.