Biotech Startup Waypoint Bio Finds New Home at 430 East 29th Street
By Amanda Schiavo December 20, 2024 12:43 pm
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The Alexandria Center for Life Science at 430 East 29th Street has welcomed a new tenant, biotech startup Waypoint Bio, Commercial Observer has learned.
Waypoint Bio has relocated from Biolabs Incubator, the biotech coworking facility at 180 Varick Street, after taking over 3,413 square feet of lab and office space across the sixth floor of the Alexandria Center for Life Science’s West Tower, according to tenant broker JLL (JLL).
JLL’s Thomas Burrus represented Waypoint Bio in arranging this lease, while landlord Alexandria Real Estate Equities (ARE) handled it in-house. JLL did not disclose the asking rent or the length of the lease. However, lab-exclusive asking rent in New York City was $103.77 per square foot in the 2024 third quarter, according to data from CBRE.
“New York’s life science market is primarily driven by new company formation, and JLL’s deep experience in navigating this nuanced intersection enables us to identify specialized, flexible space that meets the physical and business needs of our clients,” Burrus said in a statement. “We are thrilled to complete this new lease with Waypoint Bio as they start the next chapter of their evolution.”
Waypoint Bio was founded in 2021 by Massachusetts Institute of Technology grads Xinchen Wang and David Phizicky. The company’s mission is to increase the speed at which cell therapies work in order to get more efficient medications on the market for the treatment of solid tumors and autoimmune diseases.
“The Alexandria Center for Life Science is a one-of-a-kind home to world-class pharmaceutical and biotechnology companies, and we are thrilled to find a home here as we work to build new spatial biology technologies and advance our cell therapies towards the clinic,” Wang said in a statement. “Being in a flagship location for New York City’s life sciences sector provides us with the ideal environment to foster innovation and accelerate our mission.”
The Alexandria Center for Life Science did not respond to a request for comment.
More than 50 tenants currently occupy space at The Alexandria Center for Life Science, including biopharmaceutical company Bristol Myers Squibb, medicine company Eli Lilly, and therapeutics company Pfizer’s Centers for Therapeutic Innovation.
Amanda Schiavo can be reached at aschiavo@commercialobserver.com.
