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Pfizer Inc. (PFE) Opens New R&D Site In Cambridge, Massachusetts


6/16/2014 8:12:18 AM

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Pfizer Opens New State-of-the-Art Research and Development Site in Cambridge, Massachusetts

Bio-Innovation Hub Represents Significant Step in Pfizer’s Long-Standing Commitment to the Area

NEW YORK--(BUSINESS WIRE)--Pfizer Inc. (NYSE:PFE) announced today the opening of a new 280,000 square-foot Research and Development (R&D) hub in Cambridge, Mass. The new Pfizer facilities in Kendall Square bring together 1,000 colleagues from three area locations and position Pfizer in closer proximity to leading academic institutions, hospitals and patient organizations.

“Our new Kendall Square presence in Cambridge represents an important milestone in Pfizer’s approach to creating a sustainable R&D engine that is designed to yield a flow of innovative therapies year after year,” said Mikael Dolsten, M.D., Ph.D., President of Worldwide Research and Development at Pfizer. “Having all of our Cambridge-area researchers working closely together in one of the world’s most exciting biomedical ecosystems will allow us to continue our efforts to grow our external collaborations and has the potential to help speed the translation of scientific knowledge into potential medical breakthroughs across areas of unmet need such as lupus, inflammatory bowel disease, kidney disease, type 2 diabetes, muscular dystrophy and Parkinson's disease.”

Led by Pfizer Group Vice President of BioTherapeutics R&D, José-Carlos Gutiérrez-Ramos, Ph.D, the new laboratory facilities, located in the heart of Kendall Square at 610 and 700 Main Street, respectively, are leased from the Massachusetts Institute of Technology (MIT). Pfizer scientists will work in state-of-the-art lab space on a range of clinical programs across several therapeutic areas, including inflammation, immunology, rare disease, cardiovascular and metabolic diseases, and neuroscience.

“We are thrilled to welcome Pfizer’s new R&D hub to the Kendall Square innovation district,” said MIT President L. Rafael Reif, Ph.D. “We could not ask for a more exciting tenant for these spaces. MIT and Pfizer have established a tradition of working together to advance science, research and education, through strategic initiatives like MIT’s Synthetic Biology Center. With this extraordinary core of Pfizer research teams now right next door to our labs at MIT, we can capitalize on the power of proximity to speed progress towards solutions to urgent challenges in human health.”

“Pfizer’s new research facilities are an important addition to the rich concentration of biomedical organizations in Kendall Square,” said Massachusetts Governor Deval Patrick. “The opening of the hub demonstrates Pfizer’s commitment to innovation and builds on the more than 15 years that Pfizer has been a part of the life sciences community here in Massachusetts.”

In addition to the new Cambridge R&D hub, Massachusetts is home to Pfizer’s research and manufacturing site in Andover and is the global headquarters for Pfizer’s Centers for Therapeutic Innovation (CTI) in Boston. By establishing collaborations with institutions working on novel and cutting-edge research, CTI’s model is designed to build an innovative network for drug discovery, with the goal of bringing new, targeted therapies to patients quickly.

The grand opening will be celebrated today with a ribbon-cutting ceremony at noon EDT in front of the new 610 Main Street facility. For additional details or to attend the ceremony, please contact Pfizer Global Media Relations:

Dean Mastrojohn
212.733.6944
cell: 917.580.2423
Dean.Mastrojohn@pfizer.com

Jennifer Kokell
212.733.2596
cell: 917.741.4254
Jennifer.Kokell@pfizer.com

Pfizer Inc.: Working together for a healthier world®

At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products. Our global portfolio includes medicines and vaccines as well as many of the world's best-known consumer health care products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more, please visit us at www.pfizer.com.

DISCLOSURE NOTICE:

The information contained in this release is as of June 16, 2014. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

This release contains forward-looking information about Pfizer’s new R&D hub in Cambridge, Massachusetts, including its potential benefits, that involves substantial risks and uncertainties. Such risks and uncertainties include, among other things, the uncertainties inherent in research and development. A further description of risks and uncertainties can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and in its subsequent reports on Form 10-Q and Form 8-K.

This press release has an accompanying Smart Marketing Page providing further details about the organization, products and services introduced above. You can access the Smart Marketing Page via the following link: http://smp.newshq.businesswire.com/pages/pfizer-opens-new-state-art-research-and-development-site-cambridge-massachusetts.

Contacts

Pfizer Global Media Relations:
Dean Mastrojohn, 212-733-6944
cell: 917-580-2423
Dean.Mastrojohn@pfizer.com
or
Jennifer Kokell, 212-733-2596
cell: 917-741-4254
Jennifer.Kokell@pfizer.com

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