Pfizer signs lease with MIT for research space
Giant drug maker Pfizer Inc. said it has signed a 10-year lease with the Massachusetts Institute of Technology to locate several research units in the Kendall Square neighborhood of Cambridge.
Pfizer is now looking to bring 400 new research jobs to Cambridge, up from an earlier estimate of 350. Plans call for the company to relocate research units specializing in neuroscience and in cardiovascular, metabolic, and endocrine diseases to a new building under development at 610 Main St. South. The lease with MIT is for more than 180,000 square feet of space. Construction on that building is scheduled to be completed by the end of 2013.
In February, Pfizer said that it was looking for a new site in the Boston area that would house a pair of research units it is moving here from southeastern Connecticut. At that time, Pfizer had about 2,300 workers at two research labs in Cambridge and a former Wyeth biotechnology plant in Andover.
Part of Pfizer’s strategy is to locate its research operations near “hubs of academic excellence,’’ a company spokeswoman said. Pfizer also has a big presence in the San Diego-area biotechnology hub, she said.
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