Pfizer spinoff Cerevel moving into Cambridge Crossing
Another drug maker is putting down roots in a fast-emerging business district just north of Kendall Square.
Cerevel Therapeutics said Wednesday it will lease about 60,000 square feet in a new building at Cambridge Crossing, a massive 43-acre development straddling the Cambridge-Somerville-Boston lines. The complex, which is under construction, already is sprouting several life science office and lab buildings.
A spinoff of pharmaceutical giant Pfizer, Cerevel was formed last year — with a $350 million investment by Bain Capital — to develop therapies for central nervous system disorders such as Parkinson’s and Alzheimer’s diseases. The company will move next year into a building on Jacobs Street that’s nearly complete and will also house the North American headquarters of Philips Healthcare.
“With its proximity to leading life science companies, academic medical centers, and financial institutions, Cambridge Crossing will be a terrific location for Cerevel Therapeutics during this critical phase of growth and expansion,” said Tony Coles, executive chairperson of the company. “The state-of-the-art office and laboratory space coupled with convenient access to public transportation and unique amenities will be key factors that help us continue to attract and retain top talent.”
It’s the latest in a string of wins for developer DivcoWest, which has leased 1.3 million square feet of office and lab space at Cambridge Crossing since relaunching the project two years ago. Along with Philips, drugmaker Sanofi has leased two full buildings — now under way — for about 900,000 square feet in all.
DivcoWest is also in talks with potential tenants for space in a fourth building — at 504,000 square feet — that’s being built.