Lilly unit first tenant in NYC bioscience park-WEB ONLY

Eli Lilly and Co. will relocate the research offices of its ImClone subsidiary into a new bioscience park developed by New York City.

Indianapolis-based Lilly will be the first tenant in the new East River Science Park, according to an announcement made this afternoon by New York Mayor Michael Bloomberg and Lilly CEO John Lechleiter. The operations are being relocated from elsewhere in New York City.

The park will place ImClone’s researchers just south of the New York University medical center and near some of the country’s most prestigious hospitals, including Mount Sinai, Weill Cornell, Memorial Sloan-Kettering, New York Hospital, Hospital for Special Surgery and Beth Israel. Lilly already collaborates with 20 institutions in the area.

By next summer, Lilly will occupy 90,000 square feet at the park, room enough to house 125 current ImClone researchers and add more as ImClone’s cancer drugs advance through stages of development.

ImClone recently launched a Phase 3 trial of its compound 1121B to see if it is effective against gastrointestinal cancer. The experimental drug is already in a Phase 3 trial for use against breast cancer.

ImClone discovered the drug Erbitux, which treats colon, head and neck cancers.

Lilly acquired ImClone last year for $6.5 billion.

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