German Biotech Opens US HQ in Princeton

On May 17, 2023

Fennelly Associates has negotiated a lease for 4,093 square feet of office space at 5 Vaughn Drive in Princeton for German biotech ITM Isotope Technologies Munich SE.

ITM Isotope Technologies is a privately-owned biotechnology and radiopharmaceutical group of companies dedicated to the development, production and global supply of targeted diagnostic and therapeutic radiopharmaceuticals and radioisotopes for use in cancer treatment. In need of space to establish a U.S. headquarters in Princeton, the company tapped Fennelly Associates’ extensive experience helping pharmaceutical and biotech companies find spaces that fit their needs in the Princeton market.

Situated in the midst of Princeton’s bustling pharmaceutical and biotech business corridor, 5 Vaughn Drive is a three-story, 98,500-square-foot office building with flexible floor plates. Recently renovated and brought up to Class-A standards, the property is located just minutes from Princeton University and downtown Princeton with easy access to Route 1.

“When a global biotech company is looking to establish a U.S. headquarters, Princeton is often one of the most attractive destinations,” said Fennelly. “Princeton’s reputation as a hub for biotech and pharmaceutical companies as well as a research and development center is particularly attractive to companies like ITM Isotope Technologies Munich SE and we’re proud to provide the real estate services needed to help them establish a new home within Princeton.”

To access more business news, visit NJB News Now.

Related Articles: