Abstract
Eli Lilly and Company plans to significantly increase its research into genetic medicines with a new research operation in Boston. The company says it will spend $700 million to establish the Lilly Institute for Genetic Medicine at a 12-story facility leased from Alexandria Real Estate Equities in the Boston Seaport district. It expects to occupy the building in 2024. Lilly began working in genetic medicines in 2018, when it entered a collaboration with Dicerna Pharmaceuticals to develop gene-silencing therapies for cardiometabolic disease. The company ramped up its activity in 2020, buying Prevail Therapeutics , a gene therapy pioneer based in New York City, for about $800 million. Lilly expects staff at the Boston facility to grow from 120 to more than 250 biologists, chemists, data scientists, and other genetic medicine specialists over 5 years. Staff at the New York research center, which continues to operate as Prevail, is expected to
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