Business
Arvinas Participates in Groundbreaking Ceremony for New Space Within Downtown Crossing Development in New Haven
NEW HAVEN, Conn., June 07, 2021 (GLOBE NEWSWIRE) -- Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology company creating a new class of drugs based
About this update from Arvinas, Inc.
[{"type":"text","content":"NEW HAVEN, Conn., June 07, 2021 (GLOBE NEWSWIRE) -- Arvinas, Inc. (Nasdaq: ARVN), a clinical-stage biotechnology company creating a new class of drugs based on targeted protein degradation, today joined state and local officials, fellow tenants, and community partners, in a groundbreaking ceremony for 101 College Street, a new 525,000-square-foot-building to be constructed as part of New Haven’s Downtown Crossing revitalization project. Arvinas will lease three of the 10 floors at 101 College and this space will serve as the Company’s headquarters beginning in 2024. “Today’s groundbreaking ceremony marks an exciting milestone for Arvinas and will allow us to continue our rapid growth in the years ahead,” said John Houston, Ph.D., President and Chief Executive Officer at Arvinas. “We are thrilled to contribute to the growing biopharmaceutical hub and development of the overall community.” Construction of 101 College is scheduled to begin in the first half of 2021, and the Arvinas space is estimated to be complete and open for occupancy in 2024. Arvinas will occupy approximately 160,000-square-feet of lab and office accommodations. Arvinas will remain at its current location in Science Park until 101 College is available for occupancy. Construction of 101 College in the Downtown Crossing section of New Haven is an important step in the revitalization of the City's downtown neighborhoods. When complete, Downtown Crossing will create a connected, walkable community in New Haven’s life sciences district, ease traffic, and bolster Connecticut’s economy. Notably, the project will help connect Yale’s medical and central campuses with world-class life science companies and hundreds of skilled employees. Downtown Crossing is funded by the U.S. Department of Transportation’s TIGER II grant, the City of New Haven, and the State of Connecticut. Winstanley Enterprises, LLC., is the developer on this multi-tenant project. About ArvinasArvinas is a clinical-stage biopharmaceutical company dedicated to improving the lives of patients suffering from debilitating and life-threatening diseases through the discovery, development, and commercialization of therapies that degrade disease-causing proteins. Arvinas uses its proprietary PROTAC® Discovery Engine platform to engineer proteolysis targeting chimeras, or PROTAC® targeted protein degraders, tha...