July 31, 2003

 

Akceli Expands with Cummings Properties

Medford, MA - According to company officials, Akceli, a venture-backed biotech company, recently leased more than 15,600 square feet of space from Cummings Properties in Medford, MA.

Akceli had reportedly been in the market for space for several months and had seriously considered several other options before selecting the 200 Boston Avenue property. Akceli's new facility is said to be a fully built-out, sophisticated laboratory that will accommodate its growth.

Akceli is a high throughput biology company exploiting a proprietary cell microarray technology. Akceli's cell microarrays are said to enable drug discovery researchers to explore new regions of target/compound space by rapidly interrogating mammalian cells with genes, drugs and proteins. The speed, scale and flexibility of Akceli's cell microarrays reportedly improve target and lead selection by providing researchers with comprehensive, high quality information earlier in the discovery process.

Founded in 2001 by a team of scientists from MIT's Whitehead Institute for Biomedical Research, Akceli is backed by leading venture capital firms Atlas Venture and Apple Tree Partners. Additional information about Akceli can be found at www.akceli.com.

In addition to Akceli, the 200 Boston Avenue property is home to other leading life science pioneers including divisions of ArQule, Pfizer and Amgen. A full Bally's fitness facility with a pool is also located in the multi-tenant property. Adjacent to Tufts University and a short distance from the Alewife MBTA Station, 200 Boston Avenue features 14-foot ceilings and wide column spacing making it very suitable for the varied labs and offices located there.

Akceli was represented in the transaction by Tad Lee, vice president of Meredith & Grew, Inc./ONCOR International. Mr. Lee worked for several months with Marjorie Eiref, Akceli's manager of operations in the search for space.

John Wiseman, vice president of leasing and Derek Cook, leasing director, represented Cummings Properties. "We are delighted Akceli selected us in this extremely competitive market. Their technology is exciting and we are pleased to be able to accommodate Akceli," noted Wiseman.

Woburn-based Cummings Properties is a privately held real estate development company, among the largest such commercial firms in New England. The firm owns, leases and manages more than 8 million square feet of space in 10 communities north of Boston. More than 80 life science pioneers occupy more than 1.2 million square feet of space in Cummings Properties buildings.