Eli Lilly and Company Reveals Plan for Innovation Center in Cambridge, Massachusetts
The Lilly Cambridge Innovation Center, a makerspace located in
Lilly Chairman, President and CEO
"The Lilly Cambridge Innovation Center complements a deliberate push by the company to be an industry leader in providing convenient, reliable drug delivery and device innovation," Lechleiter said. "Locating in
Lechleiter added that the center will serve as a portal for external partnerships and collaboration activities with the company's existing research facilities in
Construction of the Lilly Cambridge Innovation Center will begin immediately, with an expected occupancy by the end of 2015. Over the next two years, the company will hire about 30 scientists and engineers to fulfill the center's work. When fully operational, the center will increase the company's delivery and device research and development space by nearly 50 percent, while increasing its staff by 25 percent.
The investment in
Lundberg added, "New drug delivery and device innovation is critically important to Lilly's growing portfolio of potential medicines, particularly in our focus areas of diabetes, neurodegeneration, immunology and pain. The best therapies of the future will marry breakthrough scientific discovery with customer-friendly devices. That's what will make life better for people who need our medicines and give Lilly a true competitive edge."
Lilly's drug portfolio and pipeline have changed significantly over the past decade. More than half of the company's pipeline now comprises biologics that require some type of injection. The company expects its revenues from device-enabled products to double by 2020.
About Eli Lilly and Company
Lilly is a global healthcare leader that unites caring with discovery to make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. To learn more about Lilly, please visit us at www.lilly.com and newsroom.lilly.com/social-channels. (C-LLY)
This press release contains management's current intentions and expectations for the future, including expectations related to the company's future drug device pipeline and potential products, all of which are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "estimate," "project," "intend," "expect," "believe," "target," and similar expressions are intended to identify forward-looking statements. Actual results may differ materially due to various factors. There are significant risks and uncertainties in pharmaceutical research and development. There can be no guarantees with respect to pipeline products that the products will receive the necessary clinical and manufacturing regulatory approvals or that they will prove to be commercially successful. For further discussion of
these and other risks and uncertainties, see Lilly's most recent 10-K and 10-Q filings with the
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