Eli Lilly And Company Expands New York City Research And Development Site

Eli Lilly and Company has announced plans to add 30,000 square feet and approximately 50 new jobs to its research and development presence at the Alexandria Center for Life Science.

PRESS RELEASE

INDIANAPOLIS, Oct. 9, 2015 /PRNewswire/ -- Eli Lilly and Company (NYSE: LLY) today announced plans to add 30,000 square feet and approximately 50 new jobs to its research and development presence at the Alexandria Center for Life Science in New York, New York.

Upon completion in 2016, this space will include a translational immuno-oncology hub and a Lilly "portal," which will provide local academic scientists with opportunities for collaborative access to cutting-edge drug discovery capabilities, including chemistry and lead optimization expertise.

"Going forward, immuno-oncology research will focus on new ways to harness the immune system and on combination therapies with targeted agents," said Jan Lundberg, Ph.D., executive vice president of science and technology and president of Lilly Research Laboratories. "Cancer is a complex disease. Our diverse research approach and expansion in New York will ultimately put us in a strong position to advance the delivery of innovative medicines to patients."

The expansion will allow Lilly to strengthen its relationships with local academic institutions and prominent medical schools. Increased collaboration will help expedite the discovery and development of new medicines in Lilly's key therapeutic areas, including oncology, diabetes and related complications, neurodegeneration, immunology and pain.

"We are prepared to push the boundaries to accelerate drug discovery," said Lundberg. "Our expanded capabilities at the New York site will further Lilly's expertise in our core therapeutic areas and help pave the way for broader collaboration with leading academic, health care and industry colleagues."

This is Lilly's third strategic research and development expansion this year with a focus on internal and external collaborations. In May, Lilly announced it would build a delivery and device innovation center in Cambridge, Massachusetts. In July, Lilly announced an expansion of its biotechnology center in San Diego, California.

Lilly initially entered the New York and New Jersey area with the acquisition of ImClone in 2008. In 2010, Lilly opened its research and development site at the Alexandria Center for Life Science, which is located near the East River in New York. Lilly also has a manufacturing and clinical development center in Bridgewater, New Jersey.