Ionis Pharmaceuticals agreed with Sudberry Properties to develop and lease a new development chemistry and manufacturing site in Oceanside, California. Sudberry will develop and construct the shell for the approximately 217,000-square-foot building. Ionis will design and construct improvements to customize the facility. Under the terms of the agreement, Ionis will lease the property for 20 years, with two 10-year options to renew and a right of first offer to purchase the property.
"From our inception, Ionis has been committed to discovering and developing transformational medicines for patients who depend on us. Our new Oceanside campus will provide the capacity we need to support our growing pipeline, new technologies and chemistries," said Brett P. Monia, Ph.D., Ionis' chief executive officer. Dr. Monia added, "We're proud to have established and grown our business in North County, San Diego over the last 30 years and delighted that we will continue to grow here for decades to come."
The new facility will include advanced sustainability and environmental protection features such as generating 50% of its power from solar panels and renewable offset, increased automation to reduce manual material handling, emissions controls and spill containment for all production areas. Ionis expects to occupy the new facility in 2025, with active pharmaceutical ingredient ("API") manufacturing beginning in mid-2026. At approximately 217,000 square feet, the new facility will be more than double the size of Ionis' existing development chemistry and manufacturing facility, which is in Carlsbad.
Sudberry Properties is a San Diego-based real estate development and asset management company.
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