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Breakthrough Properties Secures £104 Million Loan and Planning Approvals For Vitrum by Breakthrough at St. John’s Innovation Park
Construction Commences on Premier Lab & Office Workspaces to Address the Growing Needs of the Cambridge Bioscience Ecosystem
CAMBRIDGE, England, Jan. 31, 2024 /PRNewswire/ — Breakthrough Properties, a leading global life sciences real estate developer, owner and operator, today announced it is set to begin construction on Vitrum by Breakthrough, a world-class life science building located inside the 21-acre St. John’s Innovation Park in Cambridge, England.
A joint venture of global developer Tishman Speyer and biotechnology investment firm Bellco Capital, Breakthrough is set to move forward on the project after securing a £104 million construction loan from BGO, as well as receiving planning permission/entitlements and approvals. This was the first permission granted for a new commercial building in the North East Cambridge area since July 2022.
Breakthrough is transforming the 1.8-acre site into a flexible, high-performance laboratory environment. Working with world-renowned architectural studio Henning Larsen, Breakthrough has designed the five-story, 175,000-square-foot building for maximum flexibility and adaptability for a wide range of scientific uses. Site completion and grand opening is anticipated in 2026.
“With Vitrum by Breakthrough, we are creating a cutting-edge environment for biotechnology companies that rely on modern, flexible lab spaces to advance life-changing scientific discovery,” said Breakthrough Properties Senior Vice President for Acquisitions and Development Tom Renn. “We are grateful to the team at BGO for embracing our vision and meeting the moment of intense demand for premier sites in the severely supply-constrained Cambridge market.”
BGO Managing Director Martin Sheridan added, “BGO is thrilled to be supporting Breakthrough Properties on the development of this market-leading project backed by their established track record of developing, owning and operating life science facilities globally. This deal represents our first UK life science financing, and we expect to participate in more opportunities this year with our confidence in the sector remaining high.”
Vitrum by Breakthrough will promote site biodiversity and embrace the theme of “nature as a workplace.” The unique design includes the creation of a ground floor entrance square for occupiers as well as the general public, which will incorporate accessible amenity spaces visually connected to the streetscape and integrate public art. Vitrum’s landscaped outdoor terraces will provide an additional amenity for occupiers and enhance the existing tree avenue on Cowley Road and the woodland ecosystem adjacent to the site.
The building is designed to function free of fossil fuels, with all-electrical heating and cooling systems. Passive design and reduced water consumption will mitigate flood risk and reduce the urban heat island effect, improving climate resilience. The facility will include dedicated basement parking and on-site electric vehicle charging stations, as well as dedicated bicycle storage.
Breakthrough’s plans for Vitrum reflect the company’s ongoing commitment to increasing energy efficiency, reducing carbon emissions and providing healthy workspaces. As with all of its European projects, Breakthrough commits to target at least BREEAM Excellent certification, while striving to reach BREEAM Outstanding. Net zero in both construction and operation (for landlord areas only) is also being targeted for the project, as are WELL Platinum, WiredScore and ActiveScore accreditations.
Founded in 2019, Breakthrough has established itself as one of the most active players in the life sciences sector, with approximately five million square feet of projects in its global development pipeline. Vitrum By Breakthrough will be its third European project to break ground over the past year. Its other ongoing European projects include a new life science building on the campus of the Amsterdam University Medical Center, which has been fully pre-leased to Neogene Therapeutics which was recently acquired by AstraZeneca, and Trinity by Breakthrough, a 210,000-square-foot R&D building in Oxford.
About Breakthrough Properties (www.btprop.com)
Formed in 2019 as a joint venture between global real estate owner, developer, and investor Tishman Speyer and biotechnology investment firm Bellco Capital, Breakthrough Properties is a life science real estate development company that leverages cross-sector collaboration to deliver environments that foster innovation and scientific breakthroughs. Breakthrough Properties’ mission is to acquire, develop and operate the best life science properties in leading urban technology centers around the world and support scientific innovation across biotechnology, agriculture, and nutrition. Breakthrough combines Tishman Speyer’s decades of global real estate development experience with Bellco Capital’s industry-making biotechnology entrepreneurship to reimagine environments where companies can create life-changing therapies for patients.
About BGO (www.bgo.com)
BGO is a leading, global real estate investment management advisor, real estate lending advisor, and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $81 billion USD of assets under management (as of September 30, 2023). BGO has offices in 27 cities across thirteen countries with deep, local knowledge, experience, and extensive networks in the regions where we invest, provide real estate lending solutions, and manage real estate assets on behalf of our clients.
BGO’s global lending platform is active in the UK, Europe, the US, and Canada. In the UK and Europe, BGO, on behalf of its clients, focuses on senior, whole loan and mezzanine lending solutions typically structured to enable borrowers to implement their business plans.
BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life. The assets under management shown above includes real estate equity and mortgage investments managed by the BGO group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/eqt/r/invitation-to-presentation-of-eqt-ab-s-q1-announcement-2024,c3956826
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Invitation to presentation of EQT AB’s Q1 Announcement 2024 |
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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