Wednesday, June 13, 2007

Yale expands; take an aspirin

Yale University To Expand Medical and Scientific Research Programs With Acquisition of Bayer Complex

New Haven, Conn. — President Richard C. Levin announced that Yale University’s efforts to expand and strengthen its medical and scientific research programs will take a major leap forward with the acquisition of the Bayer HealthCare complex in West Haven and Orange, Connecticut.

The purchase of the facility — which features approximately 550,000 square feet of laboratory space, as well as office buildings, warehouses, and other facilities — will dramatically increase the University’s ability to launch research programs addressing crucial issues affecting human health and quality of life. Financial details of the transaction will be disclosed at the time of closing.

"Yale is already in the midst of a boom in the expansion of its science and medical facilities," said Levin. "The addition of this ready-made, state-of-the-art research space will allow that growth to accelerate at an unprecedented level — potentially making it possible for Yale scientists to develop new discoveries, inventions and cures years earlier. The availability of Bayer’s science laboratories will enable us to undertake research programs that we would not have had space to develop for a decade or more."

"The heart of the Yale campus will always remain in New Haven," said Levin. "In fact, the University is already committed to building more than 2 million square feet of new facilities in its home city over the next six years. And we are in discussions about the possibility of leasing a significant amount of space in Science Park to help strengthen its role as an incubator for science-based start-up companies."

When they start buying land in Allston, watch out!

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