Astellas Institute to relocate to Westborough
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The Astellas Institute for Regenerative Medicine is looking to relocate to this 9 Technology Drive building in Westborough.
The Astellas Institute for Regenerative Medicine, based in Marlborough, is moving to the Westborough Technology Park, according to the Westborough Economic Development Committee.
The institute, located at 33 Locke Drive in Marlborough, is planning an $80-million investment to convert an office building at 9 Technology Drive into a pharmaceutical research and development facility, the WEDC said in a press release recapping its fourth annual Year in Review event.
The institute, a subsidiary of Astellas Pharma US, was established in 2016 following Astellas’ acquisition of Ocata Therapeautics. It serves as the company’s global hub for regenerative medicine and cell therapy research, according to its website.
The company plans to employ between 200 and 300 workers at the location, the WEDC said.
Astellas did not immediately return requests for comment.
A legal notice from last month confirms the institute is looking for a special permit from the Westborough Zoning Board of Appeals. According to the notice, the company plans to construct a 12,000-square-foot addition to the existing building.
According to Town Planner Jim Robbins, the company has not yet submitted plans to the Planning Department.
Framingham-based tech firm Bose previously occupied the space, Robbins said.
Town Meeting last month approved a 15-year tax-increment financing agreement with the company beginning in July 2019 which provides for a 50-percent real estate exemption in year one, 40 percent in year two, 30 percent in year three, 20 percent in year four and 10 percent for the remainder of the agreement.
Per the agreement, personal property exemptions are 25 percent in year one, 20 percent in year two, 15 percent in year three, 10 percent in year four, 5 percent in year five and no exemptions for years six through 15.
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