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News release

Boston

Celldex Therapeutics Renews Lease for 23,413 S.F. in Fall River


BOSTON, August 3, 2010 —Celldex Therapeutics, Inc. has signed a lease for 23,413 square feet of first class office, manufacturing and laboratory space at 151 Martine Street in Fall River, MA. The renewal and expansion on the second floor serves as research and development space for this fully integrated, diversified biopharmaceutical company. Celldex is headquartered in Needham, MA.

Jones Lang LaSalle Executive Vice President Brendan Callahan negotiated the 7-year lease renewal representing Celldex as the tenant. The owner Massachusetts Development Finance Agency was represented by its real estate team. Jones Lang LaSalle also assisted Celldex with the integration of its recent acquisition of CuraGen Corporation following the opening of a new office in New Haven, Connecticut.

“We are proud to have more than doubled in size with significant job creation in the past six years since we opened our Fall River facility,” said Avery Catlin, Senior Vice President and Chief Financial Officer of Celldex. “Current renovations at the facility will increase our capacity by installing a 1000L bioreactor, and make the facility EMEA compliant. Implementing EMEA requirements along with US GMP’s will allow Celldex to distribute products to clinical sites in both the US and EU.”

According to Jones Lang LaSalle’s Callahan: “We are pleased with the market terms and flexibility of the lease negotiated with MassDevelopment,” Jones Lang LaSalle’s Callahan said. “This facility and location has performed well for Celldex. Its resounding success in Fall River is an important reminder of the talent pool and noteworthy facilities that exist outside the traditional life science clusters of Cambridge and Route 128.”

“Celldex’s decision to renew its lease on Martine Street speaks to the quality of the facility and the value of the South Coast labor force,” said MassDevelopment President and CEO Robert L. Culver. “We’re pleased Celldex, a key part of the Commonwealth’s biotech cluster, will continue to expand and create jobs in Fall River.”

About Celldex
 
Celldex Therapeutics is the first antibody-based combination immunotherapy company. Celldex has a pipeline of drug candidates in development for the treatment of cancer and other difficult-to-treat diseases based on its antibody focused Precision Targeted Immunotherapy (PTI) Platform. The PTI Platform is a complementary portfolio of monoclonal antibodies, antibody-targeted vaccines and immunomodulators used in optimal combination to create novel disease-specific drug candidates.
 
About MassDevelopment

MassDevelopment, the state’s finance and development authority, works with businesses, financial institutions, and communities to stimulate economic growth across the Commonwealth.  During FY2009, MassDevelopment financed or managed 229 projects statewide representing the investment of nearly $1.2 billion in the Massachusetts economy. These projects are supporting the creation of 1,488 new housing units and 8,232 jobs: 3,362 permanent and 4,870 construction-related.

About Jones Lang LaSalle    
       
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $40 billion of assets under management. For further information please visit our Web site, www.joneslanglasalle.com.