Shire to build innovation hub in Massachusetts

Irish pharmaceutical company Shire announced that it will expand its operations in Cambridge, Massachusetts through the establishment of an innovation hub to study rare diseases.

Shire and BioMed Realty have signed a lease for a 343,00 square foot building at 500 Kendall street campus with teams spanning research, clinical development, medical affairs, business development and other related functions.

The company believes that close coordination among these teams and potential external partners will further catalyze its serial innovation across a range of rare diseases and highly specialised conditions.

“By expanding our presence in Cambridge, with its close proximity to best-in-class hospitals, research institutions, universities and a thriving biotechnology community, we will strengthen our ties with the early innovators around us to shape the next generation of breakthrough therapies for patients with high unmet needs,” said Chief Executive Flemming Ornskov.

“These plans signify our continued growth and our deep and enduring commitment to serving patients, families and caregivers across the globe who are affected by rare diseases and highly specialized conditions,” he added.

The company will retain its current office, laboratory and manufacturing space which spans over 2m square feet, in Massachusetts including its growing presence in Lexington where it has been located since 2007.

The group currently employs over 3000 people in that New England state and has increased the number of employees in the state by more than 670% in the past 11 years. On its website, the company says it is currently hiring nearly 400 positions designated for the area.

“I am thrilled that Shire will continue to grow in Massachusetts. Shire’s commitment to significantly expanding its Kendall Square innovation hub is a testament to the creativity of our state’s workforce, and to the competitiveness of the Commonwealth’s economy,” said Massachusetts Governor Charlie Baker.

The share price fell by 0.61% to 4,683.15p at the close.