The Bristol-Myers Squibb Co. research and development campus in Hopewell — Courtesy: JLL
By Joshua Burd
A biopharmaceutical firm has inked a lease for 185,000 square feet at the former Bristol-Myers Squibb Co. campus in Hopewell, helping to backfill part of the 1.14 million-square-foot complex.
PTC Therapeutics Inc. announced that it has signed a long-term lease agreement with Bristol-Myers Squibb, under which it will gain access to part of the 33-building site, including an existing state-of-the-art biologics production facility and supporting research and operations buildings. PTC, which is based in South Plainfield, plans to further develop the biologics facility to support gene therapy production and foster innovation and employment in the community.
Additionally, the company said it plans to move its research operations to a newly renovated building on the 433-acre property. The facilities will complement and enhance existing operations at PTC’s global headquarters.
“The Hopewell facility is a vital part of our strategy to develop best-in-class therapeutics for patients with high unmet medical need,” said Stuart W. Peltz, CEO of PTC Therapeutics. “Obtaining this facility allows PTC to execute on our plans of rapidly advancing our gene therapy pipeline. Access to best-in-class technology and highly qualified biologics operation specialists is key for PTC to meet our goal of becoming a leader in gene therapy.”
Bristol-Myers Squibb said in 2016 that it would close the Hopewell campus as part of a broader reshuffling of its research and manufacturing facilities nationwide. The massive property is now transitioning to a multitenant research and development campus.
Robert Klausner and Mat Carlson of Fox Rothschild LLP represented the tenant.