Agios Pharmaceuticals Boosts Cambridge Presence By 70%
A Cambridge biotech startup, which won approval for its first pharmaceutical creation earlier this year from the Food and Drug Administration, is quietly expanding near Central Square.
Agios Pharmaceuticals signed a lease Nov. 17 for just over 27K SF of office and lab space at 64 Sidney St., according to a Securities and Exchange Commission filing. The seven-year lease comes with the option of two consecutive, five-year lease extensions at market rates. Agios will initially pay $80/SF with rent increasing annually to a maximum of $95/SF. The startup will join Voyager Therapeutics and biopharmaceutical company Vericel in the building.
The company also extended its lease at 88 Sidney St., where it has 146K SF. The extension positions the company to have its leases at both buildings expire at the same time.
Idhifa, a pharmaceutical created by Agios, won FDA approval in August. It is used to treat adult patients with a form of leukemia caused by certain genetic mutations. The nine-year-old Cambridge company sold the rights to Idhifa to Summit, New Jersey-based Celgene Corp. in 2010.
CORRECTION: NOV. 27, 7:09 P.M. EST: A previous version of this story listed the incorrect square footage Agios leases at 88 Sidney St. The story has been updated.
