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Fast-growing biotech institute will bring more than 330 employees to South Lake Union's thriving life sciences research hub as part of its new global headquarters opening in spring 2011
SEATTLE, August 18, 2010 – Vulcan Real Estate today announced that the Institute for Systems Biology (ISB) will be moving its global headquarters to Seattle's South Lake Union neighborhood. ISB has signed a lease for approximately 140,000 square feet of office and laboratory space in Vulcan's 401 Terry Avenue N. Building, which will be home to more than 330 ISB employees starting in spring 2011.
We are thrilled to welcome Institute for Systems Biology to South Lake Union. The presence of such a world-renowned research institute will contribute greatly to the already dynamic and highly collaborative life sciences research cluster in the area," said Ada M. Healey, vice president of real estate at Vulcan Inc. "South Lake Union's growing roster of cutting-edge employers helps strengthen our region's economic vitality and catalyze breakthrough discoveries that have a global impact."
"The Terry Avenue N building more than doubles our current space, permits us to consolidate employees under one roof, and provides easy access to some of the most effective research institutions in Washington state," said Lee Hood, MD, PhD, president and Cofounder of ISB. "It will also enable us to acquire new faculty with critical skills in systems science (biology, medicine, technology and computation/mathematics), as well as provide the space for future growth and the creation of new strategic partnerships."
401 Terry Avenue N. Building to Serve as New ISB Global Headquarters
Opened in 2004 as the former headquarters for Merck/Rosetta Inpharmatics, the 401 Terry Avenue N. Building is located along the Seattle Streetcar line on Terry Avenue between Republican and Harrison streets. The 140,000-square-foot building will eventually allow ISB to increase its square footage dedicated specifically to research by approximately 120 percent relative to its current space, with an immediate 60 percent increase upon occupancy.
Founded in 2000 by Alan Aderem, Ruedi Aebersold, and Leroy Hood, ISB has experienced significant growth in recent years. ISB's budget has grown from a little over $10 million a year when founded to more than $50 million in 2010. The number of employees has grown from 105 when first occupying its current research facility to more than 300 today, with projections for nearly 500 staff within 10 years. Located in the heart of South Lake Union's life sciences and technology hub in close proximity to several of ISB's research partners, the new headquarters also allows ISB to consolidate its existing buildings into one unified facility to further enhance employee collaboration. In addition, the South Lake Union location offers ISB employees convenient access to public transit options as well as a variety of amenities and services within walking distance of the building.
ISB joins an impressive list of other world-class life sciences organizations located in South Lake Union, including Seattle BioMed, UW Medicine, PATH, Fred Hutchinson Cancer Research Center, VLST, Seattle Children's Hospital, Novo Nordisk and SightLife, among others.
Fast-Growing Nonprofit Research Center is Thriving
Celebrating its 10th anniversary later this year, ISB has emerged as a global leader in systems biology research, having been named by the Spain-based Scimago Research Group as producing scientific papers with the highest impact in the United States, and third in the world, in an assessment of more than 2,200 research institutes internationally. Systems biology approaches engage biologists, computer scientists, physicists, mathematicians, engineers and technologists in a cross disciplinary environment to solve biological problems by learning not just about individual cells, parts of cells or molecules, but about how all elements of a biological system interacts to generate health or disease.
About Vulcan Real Estate Seattle-based Vulcan Real Estate directs all real estate activities for Vulcan Inc., a Paul G. Allen company. Allen co-founded Microsoft and today, along with his varied business interests, is one of the country's top philanthropists. Vulcan Real Estate's experienced, talented team of professionals offers a full range of development services from site selection to build-to-suit construction. Its real estate model is based on quality, sustainable development that builds new value across the entire community. To date, Vulcan has delivered nearly 3.7 million square feet in 18 new office, biotech, residential and mixed-use projects in South Lake Union. The company has approximately 1.4 million square feet currently under construction and/or planned for delivery by 2013. For more information, visit www.vulcanrealestate.com.
About the Institute for Systems Biology
The Institute for Systems Biology (ISB) is an internationally renowned, non-profit research institute headquartered in Seattle and dedicated to the study and application of systems biology. Founded by Leroy Hood, Alan Aderem and Ruedi Aebersold, ISB seeks to unravel the mysteries of human biology and identify strategies for predicting and preventing diseases such as cancer, diabetes and AIDS. ISB's systems approach integrates biology, computation and technological development, enabling scientists to analyze all elements in a biological system rather than one gene or protein at a time. Founded in 2000, the Institute has grown to 13 faculty and more than 300 staff members; an annual budget of more than $50 million; and an extensive network of academic and industrial partners. For more information about ISB, visit http://www.systemsbiology.org.