Boston’s life science manufacturing activity is spreading beyond Route 128.
Waltham-based Replimune Group announced Tuesday the terms for its initial public offering, which entails raising $101M by offering 6.7 million shares ranging from $14 to $16. The move comes weeks after the immunotherapy biotech company signed a lease for a 63K SF manufacturing and translational science lab in Framingham at 33 New York Ave., according to a June 22 filing with the Securities and Exchange Commission.
“Replimune’s manufacturing lease continues the trend of life science companies expanding their operations in Greater Boston,” Colliers International Director of Research Aaron Jodka said. “We are the epicenter of the life science industry globally, and while the focus is oftentimes on the R&D component, we have the unique skill sets and talent available to run strategic manufacturing operations.”
The building housed the MetroWest Daily News for nearly 40 years before the paper moved to One Speen St. in December. King Street Properties bought the paper’s old home in late February for close to $9.3M and indicated it would redevelop the property to be conducive for life sciences companies. Replimune’s lease is scheduled to begin in November, and the company indicated in the SEC filing the building will be ready to produce “clinical-grade material” by the first half of 2020. The 10-year lease has two five-year extension options.
"In recent years Alnylam, Moderna, Wave Life Sciences and Astellas, amongst others, have grown their manufacturing capacity in suburban Boston," Jodka said. "We are seeing these operations spread throughout the marketplace, showing the depth and growth of the biomanufacturing industry in Greater Boston."
Replimune and King Street Properties did not return calls for comment in time for publication.
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