"Our new location in New York City, with unprecedented access to academic research organizations, the latest research tools, and our FIPNet (Fully Integrated Pharmaceutical Network) partners, will help us speed innovative medicines to patients." John Lechleiter, CEO, Eli Lilly and Company

Business Need

At the beginning of this administration, NYCEDC began to identify obstacles to growing the bioscience industry and develop targeted responses to support the sector. As part of this effort, NYCEDC led the creation of the City's first research park on City-controlled land. The Alexandria Center for Science and Technology is being developed by Alexandria Real Estate Equities.  After acquiring New York City-based ImClone Systems for $6.5 billion, Eli Lilly sought a home to base translational research and development operations for its subsidiary.

Solution

NYCEDC’s efforts helped lead Eli Lilly to sign a long-term lease to occupy more than 90,000 square feet for a new oncology research headquarters for its subsidiary ImClone Systems.  East River Science Park’s proximity to major research hospitals, such as the nearby New York University Langone Medical Center, will boost Eli Lilly’s exposure to scientific talent and help speed up R & D.