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Cancer biotech Arvinas Inc. solidified its commitment to New Haven Tuesday afternoon, announcing it will lease 160,000 square feet of lab and office space in developer Carter Winstanley’s soon-to-be-built 101 College St. bioscience tower.
Arvinas said it will take up three of the 10 floors in the new 500,000-square-foot building, to be built across from Alexion Tower and next to Yale School of Medicine and Yale New Haven Hospital.
Arvinas is the first bioscience tenant to announce it has leased space in the new tower.
“As a company incubated out of Yale, our commitment to New Haven is strong,” said Arvinas CEO John Houston. “We’re proud to continue to be a part of this rapidly growing biopharmaceutical hub and contribute to the continued development of the downtown area.”
Founded in 2013 by Yale scientist Craig Crews, Arvinas went public in 2018 and has a market capitalization of $3.3 billion.
Houston said the company has experienced significant growth over the last several years as it advances its cutting-edge approach to treating stubborn forms of prostate and breast cancer.
He told New Haven Biz in January that he expects to hire 75 people this year, putting the company’s total headcount at 250 by the end of 2021.
“The city of New Haven is thrilled that Arvinas has selected 101 College St. for their future headquarters,” said New Haven Mayor Justin Elicker in a statement. “This is an exciting milestone for Arvinas, New Haven and Connecticut.”
The move would more than double Arvinas’ current 63,500 square foot space at 4 and 5 Science Park.
In January, the company expanded its Science Park footprint by 10,000 square feet, and said Tuesday it will remain at that location until its space in the new tower is ready for occupancy in 2024.
Winstanley told a neighborhood group last month that he expects to begin construction on the new tower in June.
The building is part of the Downtown Crossing revitalization project, which aims to reconnect the city’s medical district and Hill neighborhood with downtown.
City and industry officials have praised the project as a solution to a shortage of lab space in New Haven to accommodate a growing life sciences sector.
Gov. Ned Lamont, in a statement, called the Arvinas lease “a clear reinforcement of Connecticut’s commitment to the bioscience sector.”
Contact Natalie Missakian at news@newhavenbiz.com
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