CBRE today announced that it has arranged a long-term lease for biotechnology company Century Therapeutics at One uCity Square located in Philadelphia’s University City neighborhood. The CBRE Philadelphia Life Science team of Bob Zwengler, Matthew Knowles and Anthony Pell, in conjunction with Eric Smith, Joseph DeRosa and Steve Purpura of CBRE’s Life Science Consulting team, negotiated the lease on behalf of Century Therapeutics.

One uCity Square, a joint venture between University City Science Center, Wexford Science & Technology, LLC, and Ventas, Inc., is a 400,000 sq. ft. mixed-use community comprised of Class A office, lab and retail space. Century Therapeutics will occupy approximately 32,500 sq. ft. of new office and lab space at the property, which recently broke ground and is expected to deliver in early 2022.

“Century Therapeutics is a rapidly growing company focused on developing cell therapies,” stated Bob Zwengler, Executive Vice President, CBRE. “One uCity Square, a premier new development in the heart of the growing life science ecosystem in University City, is an ideal location to accommodate that growth.”

Year-to-date, life sciences venture capital funding in Pennsylvania has totaled greater than $392 million, compared with just $86.7 million over the first half of 2019, representing a more than 350 percent increase, according to CBRE Research. The funding in Pennsylvania ranges from $250,000 to as much as $200 million, with firms at every stage of the life cycle growing and in need of space of all sizes.

Century Therapeutics has tapped CBRE Project Management team member John Richards to oversee the design and construction of their new state-of-the-art office space.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

About Century Therapeutics

Century Therapeutics is harnessing the power of stem cells to develop curative cell therapy products for cancer that overcome the limitations of first-generation cell therapies. Our genetically engineered, universal iPSC-derived immune effector cell products (NK, T, DC and macrophage) are designed to specifically target hematologic and solid tumor cancers. Our commitment to developing off-the-shelf cell therapies will expand patient access and provides an unparalleled opportunity to advance the course of cancer care. Century was launched in 2019 by founding investor Versant Ventures in partnership with Fujifilm and Leaps by Bayer. For more information, please visit www.centurytx.com.