Scottish Development Agency Selects Alexandria Real Estate Equities to Build World-Class Life Science Campus in Edinburgh

BOSTON, May 7 /PRNewswire/ -- Scottish Development International/Scottish Enterprise announced today that it has chosen Alexandria Real Estate Equities, Inc. , North America's leading life science property specialist, as the development partner for the newly branded Edinburgh BioQuarter.

Scottish government and business leaders expect the Edinburgh BioQuarter, which was previously known as the Center for Biomedical Research, to be one of the most internationally attractive clusters for the life science industry, joining the elite club of top world-wide locations such as Mission Bay in San Francisco, Technology Square @ MIT in Cambridge, Biopolis in Singapore and Novum Biocity in Stockholm.

"Alexandria's reputation for outstanding life science cluster development, combined with Scotland's reputation for producing outstanding science, will act as a magnet for some of the world's leading scientists, researchers and companies to locate here and is a key part of Scottish Development International's strategy to ensure that Scotland can compete with the best in Europe and around the world for new investment and new jobs," said Jack Perry, Chief Executive of Scottish Enterprise, with which Scottish Executive, jointly operates Scottish Development International.

Alexandria has exclusive rights to develop a top cluster for a broad spectrum of life science entities. Planning permission has already been granted for approximately 1.4 million square feet of academic, institutional and commercial life science space on the 100 acre site. Working in partnership with The National Health Service, The University of Edinburgh and Scottish Development International, Scottish Enterprise and Alexandria will capitalize on the strong existing life science infrastructure to create a pre-eminent destination that will connect Scotland to the worlds' most important life science markets.

"We are extremely proud and honored to have been selected by Scottish Enterprise to spearhead this world-class effort to create a leading life science cluster in Scotland," said Joel. S. Marcus, Chief Executive Officer of Alexandria. "We were attracted to Edinburgh BioQuarter due to its proximity to renowned medical institutions such as the Royal Infirmary of Edinburgh, the University of Edinburgh's College of Medicine and the Queen's Medical Research Institute. In choosing Edinburgh, we will be adhering to our strategy of developing in a community rich with reputable, highly recognizable research and academic entities, as well as a great talent pool and strong capital base -- the anchors of a thriving life science cluster. We believe Edinburgh BioQuarter will become a life science magnet that not only supports local emerging life science companies, but will attract more established international companies as well. We look forward to applying our successful life science cluster business model to this effort to create a world-class destination of choice for the industry."

The University of Edinburgh is one of the world's top 20 universities for biomedicine. The Edinburgh Royal Infirmary is a brand new 870-bed teaching hospital with a dedicated clinical trials center.

Professor James Barbour OBE, Chief Executive NHS Lothian, said: "This is an exciting development that emphasizes the scale and significance of the biomedical sector in Scotland and indeed Europe. The Royal Infirmary of Edinburgh is a centre of excellence, enjoying close and productive links with the University of Edinburgh Medical School. Research is the tool that helps drive major improvements in healthcare. This is a significant development for the City of Edinburgh and the Lothians and NHS Lothian is proud to be a key partner in this important development which will quickly establish itself on the world biosector stage."

Edinburgh BioQuarter will also be home to the $118 million Scottish Center for Regenerative Medicine (SCRM), which is led by Professor Ian Wilmut, creator of Dolly the sheep, and has the capacity to be one of the world's leading centers of excellence for regenerative medicine.

Alexandria, which is the pre-eminent and largest dedicated life science property specialist in North America, owns and operates more than 11 million square feet of office/laboratory properties including such distinguished destinations as Technology Square @ MIT in Cambridge, Massachusetts. It also has more than six million square feet of office/laboratory space currently under various stages of development, including Mission Bay in San Francisco and East River Science Park in New York City.

Alexandria's business model is to create and grow life science clusters in markets where there are strong academic, medical and research institutions, as well as a first-class talent pool and strong capital base. Its leading brand and reputation as the Landlord and Developer of Choice for the Life Science Industry(R) is expected to generate substantial interest in Edinburgh BioQuarter from some of the most important life science companies world-wide.

Alexandria will immediately start planning for the first building on-site at BioQuarter -- an approximately 80,000 square foot multi-occupancy building. The flagship center will include Alexandria's unique range of state-of-the-art facilities and proprietary products and services designed to foster the development of a broad and diverse life science sector. These proprietary elements include the Scottish Technology Accelerator(SM), which bridges the gap between research and commercialization; a Bio Hot Rack Lab(SM), which will offer scientists and researchers short-term access to lab space and work equipment to conduct exploratory research; and an Innovation Center (SM) which will house emerging and mid-stage companies working in a collaborative environment. The multi-occupancy building will also offer highly flexible and adaptable space for more established companies and is expected to be completed in 2009.

Alexandria will also begin planning for the remaining commercial plots, which will include a second multi-occupancy building for larger tenants, as well as build-to-suits for established entities in the life science industry.

This is the first time that Alexandria has invested in European property development and the company separately announced that it will establish its initial European headquarters in Scotland as a result of the strategic alliance with Scottish Development International.

Professor John Savill, Head of the University of Edinburgh's College of Medicine and Veterinary Medicine, added: "The University of Edinburgh is proud to be a key partner in such an exciting initiative for biomedical research in Scotland. The new campus will provide an environment in which our scientists can work in close collaboration with commercial partners to ensure that the groundbreaking research we undertake in life sciences is put to the best possible use."

"Some of our research genuinely has the potential to change people's lives for the better, with applications across a wide range of medical conditions. Initiatives such as the Edinburgh BioQuarter will ensure that the University's scientific discoveries and innovations in the field of biomedicine can be developed for the future in the most efficient way possible."

"Scotland continues to reaffirm its position as a global leader in the life sciences and will now boast the largest biomedical research community in the U.K.," said Lorna Jack, President of the Americas for Scottish Development International, heading up Scotland's inward investment efforts in the U.S. "Companies looking to take a 'bench to bedside' approach to R&D have an added advantage with unlimited access to leading experts and research facilities across various disciplines. Moreover, researchers' capabilities will be broadened and we anticipate that new developments and discoveries taking place in the labs of the Edinburgh BioQuarter will further drive this booming sector in Scotland."

About Scottish Development International

Scottish Development International works to attract inward investment and knowledge to Scotland in order to help the economy grow. SDI also works to help Scottish companies do more business overseas and to promote Scotland as a good place to live, work and do business. It is jointly operated by the Scottish Executive and Scottish Enterprise. Its work is guided by the global connections theme of the Scottish Executive's Smart Successful Scotland strategy for economic development in Scotland. http://www.sdi.co.uk/

About Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc., Landlord and Developer of Choice to the Life Science Industry(R), is a publicly-traded real estate investment trust focused principally on the ownership, operation, management, selective redevelopment, development and acquisition of properties for the life science industry. Its properties are designed and improved for lease primarily to institutional (universities and independent not-for-profit institutions), pharmaceutical, biotechnology, medical device, life science product, service, biodefense and translational medicine entities, as well as governmental agencies.