The Translational Genomics Research Institute (TGen), in association with its affiliate City of Hope, today announced it has closed on an agreement to purchase its headquarters building from the City of Phoenix, thus ensuring TGen’s ability to plan its future growth.
TGen formed in June 2002, shortly after more than 50 leaders and visionaries in science, medicine, government and business gathered at the Arizona state capitol to discuss the possibility of establishing Arizona as a player in the new economy of the biotechnology industry. Their goal was to establish a one-of-a-kind genomics research institute in the heart of the Phoenix Biomedical Campus, a 30-acre project on the former site of the Phoenix Union High School, planned for more than 6 million square feet of biomedical-related research, academic, and clinical facilities.
As part of the statewide effort, Phoenix in 2003 began construction of TGen’s 173,000-square-foot headquarters building, which opened in December 2004 followed by an official dedication ceremony in March 2005
“For more than 15 years we have used the power of genomic medicine to accelerate discovery, improve lives, and contribute economically to Arizona and the City of Phoenix,” said Dr. Jeffrey Trent, TGen’s President and Research Director. “We are proud of what we have accomplished in our short history and our commitment to research discovery. Growth in this community and for this state is further accelerated by our agreement with the City of Phoenix to purchase this building.”
Expanding the Phoenix bioscience economy
Phoenix Councilwoman Kate Gallego, whose District 8 includes the Phoenix Biomedical Campus, said that TGen is a catalyst, attracting other biomedical facilities and helping put the city on the national and international bioscience map.
“The Phoenix Biomedical Campus has grown into the foundation for Arizona’s ever-expanding biomedical industry,” Gallego said. “This cutting-edge center for research and medical collaboration is producing some of the nation’s most promising treatments to emerge in years for chronic and deadly diseases.”
TGen, known for its pioneering work in precision medicine, also provides considerable economic impact for the city and state. Based on its most recent independent financial report, TGen has a total annual economic impact — including commercial activities — of $174 million, provides a rate of return in the form of direct economic impact of $46.50 for every $1 invested by the state, and creates more than 1,400 jobs.
TGen also announced today that Plaza Companies will be the real estate services firm for the property at 445 N. Fifth St. Plaza’s team helped TGen and City of Hope through the process, and Plaza will provide property management services for the building as well. Plaza’s Bill Cook, Vice President-Brokerage Services, is also a TGen Ambassador.
“We have appreciated Plaza Companies’ guidance and assistance through the complexities of the acquisition, and look forward to working with this highly regarded real estate firm in the future,” said Tess Burleson, Chief Operating Officer for TGen.
TGen’s affiliation with City of Hope
In November 2016, TGen formed an exciting new affiliation with City of Hope, a world-renowned independent research and cancer and diabetes treatment center, to advance precision medicine and accelerate the speed with which scientists and medical staff can convert research discoveries into cures for patients. Shortly after, TGen began talks with Phoenix about entering into an agreement to purchase its headquarters building.
City of Hope is a pioneer in the ﬁelds of bone marrow transplantation, hematologic malignancies, and select solid tumors with an over-riding emphasis on harnessing the power of a patients’ own immune system in fighting cancer and diabetes. TGen is a leader in applying genomic analysis and bioinformatics to cancer drug development, with clinical programs in solid tumors, particularly pancreatic cancer and melanoma.
“City of Hope and TGen have complementary strengths and we are fast tracking the future of precision medicine together. This transaction is yet another example of our commitment to TGen, the bioscience community in Arizona, and the citizens of Arizona who will benefit from our combined scientific advances,” said Robert Stone, City of Hope President and CEO.
The Phoenix City Council unanimously approved TGen’s purchase of the TGen headquarters building in March.
The TGen building also is home to: the International Genomics Consortium (IGC), and the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK).
Besides TGen, the Phoenix Biomedical Campus is home to the University of Arizona College of Medicine-Phoenix, the U of A Cancer Center-Phoenix, the Biomedical Sciences Partnership Building, Northern Arizona University medical programs, and the Phoenix Union Bioscience High School, among others.