Occupancy begins at Jerusalem Bio Park

The building's structure is designed to create an interactive work environment and synergetic collaboration for R&D in the life sciences.

7 June 09 11:21, Michal Margalit

Occupancy has begun at the first stage of the Hadassah Medical Center Hebrew University Biotechnology Park adjacent to Hadassah Hospital in Ein Kerem. The Bio Park is jointly owned by Hadassah, the Hebrew University of Jerusalem, and Minrav Holdings Ltd. (TASE: MNRV). The project's first stage is a 12,000-square meter seven-storey building with underground parking.

The building's structure is designed to create an interactive work environment and synergetic collaboration for R&D in the life sciences. The Bio Park's plan includes tens of thousands of square meters of adjacent space slated for more buildings.

The first companies to occupy the new building are Hadasit - the Technology Transfer Company of Hadassah Medical Organization and its affiliate Hadassah Clinical Research Center (HCRC), and portfolio companies of Hadasit Bio Holdings Ltd. (TASE:HDST) Cell Cure Neurosciences Ltd., ProtAb Ltd., and Tolarex Ltd.

The companies are paying NIS 53 per square meter per month in rent, plus VAT. Management fees are NIS 13 per square meter per month in rent, plus VAT.

On the first floor of the building, 220 sq. m. have been leased to Breathewell, founded by Jonathan Kestenbaum and Jonathan Bennett. The company operates salt rooms, and deals in breathing therapy and research on the respiratory system. The rent in this deal is NIS 67 per square meter per month. The rest of the space in the building is in the final stages of construction, with negotiations taking place on leasing it.

Published by Globes [online], Israel business news - www.globes-online.com - on June 7, 2009

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