Oct. 29, 2009 (PR Newswire) --
SAN DIEGO, Oct. 29 /PRNewswire-FirstCall/ -- BioMed Realty Trust, Inc. (NYSE: BMR) announced today that it has entered into a new ten-year lease with Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) encompassing approximately 148,000 square feet at The Landmark at Eastview campus in Tarrytown, New York. This new lease replaces existing leases with Progenics which were set to expire from 2009 to 2012.
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According to Alan D. Gold, BioMed's Chairman and Chief Executive Officer, "We are very pleased with our expanding relationship with Progenics, one of BioMed's premier large, publicly traded life science tenants. We look forward to further supporting their efforts to continue discovery for treatment of patients with debilitating conditions and life-threatening disease, with principle programs directed toward supportive care, virology and oncology."
Paul J. Maddon, M.D., Ph.D., Progenics' Founder, Chief Executive Officer and Chief Science Officer, remarked, "Landmark's state-of-the-art research facilities have allowed Progenics to expand our presence in Westchester County in order to develop and commercialize our innovative therapeutic products. The Landmark campus is the ideal collaborative environment to support our research and growth."
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®. 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 owns or has interests in 69 properties, representing 114 buildings with approximately 10.5 million rentable square feet. The company's 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 www.biomedrealty.com.
About Progenics
Progenics Pharmaceuticals, Inc., of Tarrytown, NY, is a biopharmaceutical company focusing on the development and commercialization of innovative therapeutic products to treat the unmet medical needs of patients with debilitating conditions and life-threatening diseases. Principal programs are directed toward supportive care, virology -- including human immunodeficiency virus (HIV) and hepatitis C virus (HCV) infections -- and oncology. Progenics is developing RELISTOR(R) (methylnaltrexone bromide) for the treatment of opioid-induced side effects. RELISTOR is currently approved in over 30 countries, including the U.S. and E.U.
