The New Haven-based pharmaceutical company Arvinas is expanding its office and lab space at the Science Park at Yale.
The growth, announced Thursday, will take the company’s presence at 5 Science Park from about 9,500 square feet when it first became a tenant in 2013 to nearly 27,600 square feet this year, according to Science Park Development Corporation, a cooperative effort among Yale University, New Haven and Olin Corporation.
Arvinas, which develops treatments for cancers and other diseases, has renewed its lease for the next five years, according to the company.
It’s now the largest tenant in the 100,000-square-foot-plus building, according to Colliers International broker John Keogh, who handles 5 Science Park’s leasing.
“The success of Arvinas at its Science Park facility these past several years provides additional resolve in my administration to remain upbeat about the biomed sector of New Haven’s economy and to be supportive of this expansion in every way possible,” New Haven Mayor Toni N. Harp said in a prepared statement.
Arvinas’ announcement comes a few weeks after the company reported a new research partnership with Pfizer using the PROTAC platform, the medical technology Arvinas is developing to break down disease-causing proteins in cancer patients.
The platform is based on research by Yale chemical biologist Craig Crews, Arvinas’ founder and chief scientific adviser.
Through the agreement, Arvinas will receive up to $830 million from Pfizer, which will be responsible for the clinical development and commercialization of any products coming out of the partnership.
The expansion also brings a round of hiring to Arvinas, which started with just two employees in 2013. CEO John Houston says the company grew to 44 people last year and plans to hire another 26 over the next six months.
The Science Park was established in 1981 near the Yale Science Hill campus in New Haven’s state-designated enterprise zone.
It now features more than 30 companies and not-for-profit organizations with more than 1,300 employees.
“It’s a nice atmosphere,” Houston said. “It’d be good to build on this community of scientists and hopefully more investment will come in to allow new companies to be started up.”