Pharmaceutical company Pfizer announced on Sept. 1 that it has agreed to a 10-year lease of more than 180,000 square feet of research space from MIT in a building to be constructed at 610 Main Street South, just north of the MIT campus.
The space will house Pfizer’s Cardiovascular, Metabolic and Endocrine Disease Research Unit and its Neuroscience Research Unit — and Pfizer anticipates moving into the space once it is completed in late 2013. MIT will begin construction on the parcel within a month; the site is currently a parking lot.
“This agreement is good for the growing innovation hub in Kendall Square, good for Cambridge, and good for MIT,” said MIT President Susan Hockfield. “We are delighted with Pfizer’s decision to bring two of its critical research units to our neighborhood. Innovation at MIT and in the companies that choose to be in Kendall Square thrives when forward-looking organizations make such significant commitments to our region.”
“We were very deliberate in our choice to move to Cambridge, MA as a key part of our R&D strategy. By expanding our presence in one of the world’s great centers of scientific and medical innovation, we will provide the best environment for our researchers to invent the next generation of medicines in areas of greatest need, such as Alzheimer’s disease, schizophrenia, diabetes and cardiovascular disease, ” said Rod MacKenzie, Senior Vice President and Head of PharmaTherapeutics Research & Development. “We intend to foster productive formal and informal collaborations between our drug discovery experts and the outstanding scientists of Cambridge’s world class institutions. This is a very exciting period in Pfizer R&D.”
“It is great news that Pfizer is boosting its presence in Massachusetts and bringing close to 400 new jobs here,” said Governor Deval Patrick. “Companies like Pfizer know that Massachusetts can’t be beat when it comes to providing a high-quality workforce and high-quality of life, thanks to our nation-leading investments in education, health care and innovation.”