Paradigm Genetics Begins Construction Of New Lab Space
Under terms of the agreement between Paradigm and Alexandria, work will begin immediately on the new office and laboratory facility. Pending approvals, Alexandria also intends to develop an additional 30,000-square-foot growth room and greenhouse complex for Paradigm. The two facilities, which are scheduled for completion in third quarter 2000, are projected to cost Paradigm approximately $12.8 million.
According to John Ryals, president and CEO of Paradigm, the new facilities will enable the company to double its current gene function analysis capacity.
"We'll also be able to house all employees in one location—not a trivial issue, since we've grown from 25 employees to 80 employees over the past year, and expect to grow to over 200 employees by 2001," Ryals continued.
Paradigm currently occupies approximately 28,000 square feet of single-story laboratory and office space in Research Triangle Park. A 20,000-square-foot expansion of the facility is underway, and is expected to be completed by the end of 1999. The expanded facilities will house plant growth rooms and phenotype analysis laboratories.
Paradigm also has an option with Alexandria to develop an additional 50,000 square foot laboratory and office facility on the same site, and an option to lease an additional 11 acres of land adjacent to the current site. If it exercises all its options, Paradigm's facilities will cover 284,000 square feet over a 22-acre campus.
Alexandria Real Estate Equities Inc. is a real estate operating company focused principally on the ownership, operation, management, acquisition, conversion, retrofit, expansion, and selective development and redevelopment of properties containing office and laboratory space.
Paradigm Genetics Inc. is a biotechnology company focused on global crop production, nutrition, and human health.
For more information, call Paradigm Genetics at 919-544-5578.