IQHQ lands $245M for Boston life science campus. This funding enabled the developer to pay off an existing bridge loan. Innovative Industrial Properties Inc. has entered into definitive agreements to provide $245 million to affiliates of IQHQ Inc. for the completion, lease-up, tenant improvements and stabilization of Phase I of Alewife Park, a master-planned life science campus in Cambridge, Mass. The mezzanine loan is secured by pledges of equity interests in the entities that own Alewife Park, a 27-acre campus composed of three existing buildings totaling 392,000 square feet and two pad-ready sites with up to 364,000 square feet of additional development potential. At closing, IIP funded approximately $111 million, which was used to repay in full the borrower's existing $85 million bridge loan, together with accrued interest, fees and expenses. The remaining $134 million is expected to be funded through the fourth quarter of 2027, as additional amounts are drawn and funding conditions are satisfied. The loan is expected to yield an interest rate of about 15.8 percent over the term of the loan, subject to a floor of 14 percent. According to IQHQ, the campus had about $800 million invested prior to IIP's investment, and Phase I is currently 78 percent leased to Lila Sciences. Neither IIP nor IQHQ replied to Commercial Property Executive's requests for additional information. The loan matures in February 2028 and has a one-year extension option. IIP also has an option to purchase all or a portion of the other mezzanine lender's notes, increasing its investment by up to $155 million on the same terms. IIP is best known as a provider of real estate capital for the regulated cannabis industry. The overwhelming majority of its lending portfolio, across 19 states, consists of industrial facilities typically used for cultivation, processing and manufacturing. A potential tipping point for Boston life science. With more than 20 million square feet of space listed as available, the Greater Boston life science sector decisively favors tenants, according to a July report from Colliers. The report called the situation "the largest collection of empty space in the country," with the major culprit being a surge of empty speculative buildings onto the market. Still, there are small signs of life, Colliers added. Nearly 90 percent of the 2.8 million square feet still under construction is either built-to-suit or preleased, and positive net absorption, for the first time in two years, pulled vacancies down by 30 basis points in the second quarter. In June, cancer therapy firm AdvanCell leased the 128,000-square-foot 1 Corporate Drive building at Innovation Park, IQHQ's life science and advanced manufacturing campus in Andover, Mass. The deal brought the newly constructed Phase 2 of Innovation Park to fully leased. The Innovation Park campus includes 340,000 square feet of life science space, with amenities including a café, a fitness center with locker rooms and communal conference space.

AdvanCell welcomes Sean Cassidy as Chief Financial Officer. * September 16, 2026 AdvanCell today announced the official appointment of Sean Cassidy as Chief Financial Officer. Consequently, Mr. Cassidy will direct all corporate financial strategies across the organization. He will guide the business as AdvanCell advances its novel clinical pipeline toward commercialization. Mr. Cassidy brings over 20 years of biotech leadership experience building both public and private life sciences companies. Previously, he served as Chief Financial Officer and Treasurer at Arvinas for over ten years. During that tenure, he helped scale the early-stage enterprise through its initial public offering and late-stage development. "Sean is an accomplished biotechnology executive with an exceptional track record of scaling innovative companies, raising and deploying capital, executing strategic transactions and pioneering novel therapeutic modalities," said Philina Lee, Ph.D., Chief Executive Officer, AdvanCell. "His judgment and breadth of experience will be invaluable as we scale AdvanCell, invest with discipline and deploy capital to maximize long-term value and impact for patients. We are delighted to welcome him to our leadership team as we enter this next phase of growth." Expanding financial capital and strategic healthcare partnerships. During his decade at Arvinas, Mr. Cassidy raised roughly $1.3 billion through private and public equity financings. Additionally, he secured nearly $1 billion in non-dilutive capital by executing strategic deals with global pharmaceutical leaders. These partners included Pfizer, Bayer, Genentech, and Merck. Arvinas actively pioneered targeted protein degradation for oncology and neuroscience treatments. "I have always been drawn to companies pioneering novel therapeutic modalities with the potential to make a meaningful difference for patients," said Mr. Cassidy. "AdvanCell has an opportunity to establish targeted alpha therapy as an important new modality for treating many cancer types. I look forward to working with Philina and the team to build and scale the organization as we advance our pipeline towards registrational trials and future commercialization and work to bring these new therapies to patients." Strengthening executive leadership for next-stage clinical growth. Before joining Arvinas, Mr. Cassidy served as CFO and Treasurer for Axerion Therapeutics and CuraGen Corporation. Earlier in his career, he held key finance management roles at 454 Life Sciences until Roche Diagnostics acquired it. Furthermore, he began his professional accounting career at Deloitte & Touche. Mr. Cassidy holds an MBA and B.S. in Accounting from the University of Connecticut. He also maintains active status as a Certified Public Accountant. Concurrently, AdvanCell announced that Dayle Hogg, D.Phil., will transition from Chief Operating Officer into an advisory role. Dr. Hogg served as COO following Abingworth's initial investment in 2024. Consequently, the entire executive team at AdvanCell thanks Dr. Hogg for his contributions to early corporate growth. For more stories on technology leaders shaping the future of enterprise solutions, visit its CXO Insiders.

AdvanCell raises $315M to expand radiopharmaceutical manufacturing. The $315M will support late-stage development of AdvanCell's lead prostate cancer program and a planned 128,000-square-foot manufacturing site in Massachusetts. Photo courtesy of AdvanCell. AdvanCell is combining lead-212 technology with automated manufacturing to help address isotope supply and production challenges in radiopharmaceutical development. AdvanCell has raised $315 million in an oversubscribed Series D financing to move its lead prostate cancer program toward Phase III development and expand its radiopharmaceutical manufacturing capacity in the US. In June 2026, AdvanCell leased a 128,000-square-foot building in Andover, Massachusetts, for its global headquarters and first US manufacturing site. The facility will support later-stage clinical development and manufacturing. Until the Andover site is ready, AdvanCell will use a contract manufacturer for US production. The temporary arrangement will support its ongoing clinical trial while the company builds out its own facility. Radioligand therapies combine a molecule that recognizes a target on cancer cells with a radioactive isotope. This allows radiation to be delivered more directly to tumors. The field already includes approved treatments such as Novartis' Pluvicto, a lutetium-177 therapy for certain patients with prostate-specific membrane antigen-positive metastatic prostate cancer. In March 2025, the FDA expanded its use to some patients before taxane-based chemotherapy. Xtalks Insights Protected by reCAPTCHA. AdvanCell is developing a related type of treatment using lead-212, which releases alpha particles over a short distance. Its lead candidate, ADVC001, is currently in Phase II development for metastatic prostate cancer. AdvanCell said longer-term Phase Ib follow-up helped support the dose and treatment schedule selected for the Phase II trial. The company plans to present the full updated results at the European Society for Medical Oncology Congress in October 2026. Radiopharmaceutical treatments depend on a steady supply of radioactive isotopes and specialized production systems. AdvanCell is building both, which could reduce supply delays and help it produce treatments more consistently. Its lead therapy must still show clinical benefit in larger trials before it can move toward commercial use. Investment in radioligand therapy development and manufacturing has continued through 2025 and into 2026. In early 2026, Novartis expanded its US radioligand therapy manufacturing network with plans for two new sites. In January, the company announced a 35,000-square-foot facility in Winter Park, Florida, expected to begin operating in 2029. Novartis also announced a 46,000-square-foot site in Denton, Texas, expected to open in 2028. The facilities would become Novartis' fourth and fifth US manufacturing sites for radioligand therapies. Investment is also expanding outside the US. In June 2026, Curium announced plans to invest more than ~36.5 million (€32 million) to add a radioligand therapy production line at its existing site in Saclay, France. The line will produce a lutetium-177 treatment for advanced prostate cancer for the European market and is expected to create 20 skilled jobs. If you want your company to be featured on Xtalks.com, please email [email protected].