SAN DIEGO, April 14 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) today announced the signing of a new lease at the Pacific Research Center in Newark, California. Revance Therapeutics, Inc., a specialty pharmaceutical company focused on the development and commercialization of innovative biopharmaceutical products for the aesthetic medicine and personal wellness categories, has agreed to lease more than 90,000 square feet at BioMed's multi-tenant research campus.
Revance will be relocating from the Mountain View area across the San Francisco Bay to join the life science cluster in the Newark/Fremont submarket, a primary component of the Bay Area's thriving life science market. Commenting on the move, Dan Browne, Chief Executive Officer of Revance, said, "We are very excited about Pacific Research Center's campus environment and amenities, which will support the growing needs of our team of world-class scientists and professionals."
BioMed's President and Chief Executive Officer, Alan Gold, commented, "We are delighted to welcome Revance, the second research organization and the first life science tenant, to the Pacific Research Center. We are very encouraged about the potential for Revance and about BioMed's opportunity to effectively support their growing facility needs. Revance's long-term commitment to Pacific Research Center is a testament to the attractiveness of the location, the world-class quality of the buildings comprising the campus and our focus on the creation and fostering of enduring relationships with our tenants."
About Revance Therapeutics
Revance Therapeutics, Inc. is a privately held specialty biopharmaceutical company focused on developing innovative products in the aesthetic medicine and personal wellness categories. Revance has developed a platform technology that enables the delivery of large macromolecules and other potent molecules across skin and other barrier membranes. Revance has exclusive worldwide rights to a highly purified low molecular weight botulinum toxin type A across all dose forms and all indications. Revance has clinical-stage programs in facial aesthetics, hyperhidrosis, preclinical programs targeting skin pigmentation, and the over-the-counter skin care brand RELASTIN(TM). For more information about Revance, please visit the company's website at http://www.revance.com.
RELASTIN and REVANCE are trademarks of Revance Therapeutics, Inc.
About BioMed Realty Trust
BioMed Realty Trust, Inc. is a real estate investment trust (REIT) focused on Providing Real Estate to the Life Science Industry(R). The company's tenants primarily include biotechnology and pharmaceutical companies, scientific research institutions, government agencies and other entities involved in the life science industry. BioMed Realty Trust owns or has interests in 68 properties, representing 104 buildings with approximately 8.5 million rentable square feet, as well as approximately 1.9 million square feet of development in progress. These properties are located predominantly in the major U.S. life science markets of Boston, San Diego, San Francisco, Seattle, Maryland, Pennsylvania and New York/New Jersey, which have well-established reputations as centers for scientific research. Additional information is available at http://www.biomedrealty.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties include, without limitation: general risks affecting the real estate industry (including, without limitation, the inability to enter into or renew leases, dependence on tenants' financial condition, and competition from other developers, owners and operators of real estate); adverse economic or real estate developments in the life science industry or the company's target markets; risks associated with the availability and terms of financing and the use of debt to fund acquisitions and developments; failure to manage effectively the company's growth and expansion into new markets, or to complete or integrate acquisitions and developments successfully; risks and uncertainties affecting property development and construction; risks associated with downturns in the national and local economies, increases in interest rates, and volatility in the securities markets; potential liability for uninsured losses and environmental contamination; risks associated with the company's potential failure to qualify as a REIT under the Internal Revenue Code of 1986, as amended, and possible adverse changes in tax and environmental laws; and risks associated with the company's dependence on key personnel whose continued service is not guaranteed. For a further list and description of such risks and uncertainties, see the reports filed by the company with the Securities and Exchange Commission, including the company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE BioMed Realty Trust, Inc.