Taconic Partners and Silverstein Properties announced that c16 Biosciences Inc. will establish its executive headquarters and biomanufacturing research lab within the Hudson Research Center at 619 West 54th Street.
A biomanufacturing company that uses microbiology to brew sustainable alternatives to palm oil, c16 Biosciences Inc. has leased 20,000 s/f of pre-built lab and office space on the 7th floor of the building. The company will move in at the end of summer.
“Hudson Research Center’s pre-built lab program was perfectly suited for what we do and where our company is headed,” added Shara Ticku, co-founder and CEO of c16 Biosciences Inc. “Its location, flexible lab spaces and amenities made the building an ideal fit for our team as we continue to address the drastic societal and environmental costs associated with palm oil. We are excited to grow our company here in New York City.”
c16 Biosciences Inc. was founded in 2017 with the objective of creating a sustainable, environmentally friendly alternative to conflict palm oil, a $61 billion industry found in everything from our food and clothes to shampoo and car fuel. By offering producers, refiners, traders and consumers of palm oil an opportunity to invest part of their production into bio-based oils and sustainability efforts, the company’s aim is to reduce the environmental footprint of palm oil production and protect natural land, wildlife and resources in the process.
c16 Biosciences Inc. closed last year on a $20 million Series A investment round led by Breakthrough Energy Ventures, a fund established by Bill Gates established along with other investors to support innovations that fight climate change. It has more than $1 billion in committed capital to support entrepreneurs building companies that can significantly reduce emissions from agriculture, buildings, electricity, manufacturing, and transportation.
“We look forward to partnering with the c16 Biosciences, Inc. team to provide the best-in-class lab space to continue their innovative research and production,” stated Taconic Partners Executive Vice President Matthew Weir. “This is another great milestone transaction for New York City and its growing research sector.”
c16 Biosciences, Inc. – which will relocate from its incubator space at 180 Varick Street – joins a growing roster of innovative life sciences organizations at the Hudson Research Center including Hibercell and the New York Stem Cell Foundation, which recently expanded its footprint in the building by 23,000 s/f, bringing it to a total of 65,000 s/f on two full floors. Silverstein Properties and Taconic Partners are planning to deliver 100,000 s/f of pre-built lab spaces ranging in size from 10,000 s/f to full floors of 32,500 s/f within Hudson Research Center in the next year, and already have several prospects vying for the space, which is in short supply in New York City.
“The intensified demand for lab space in New York City reflects the overall health of the sector and highlights New York’s potential as a hub location,” said Marty Burger, CEO of Silverstein Properties. “The Hudson Research Center is uniquely positioned to accommodate a variety of these world-class research companies and organizations.”
The landlord was represented by Jonathan Schifrin and Alessio Tropeano of CBRE, and in-house at Taconic by Weir. c16 Biosciences was represented by John Isaacs and Alex Erdos of CBRE.
“Building a successful recovery means ensuring the life science sector is equipped with the greatest potential for cutting-edge technologies and treatments for New Yorkers,” said Rachel Loeb, Acting President of the New York City Economic Development Corporation.
“Companies like c16 Bioscience Inc. establishing its headquarters here is an example of the strength of the life sciences ecosystem and the City’s potential as a biomanufacturing hub. With a diverse talent pool, and advancements in technology, New York City is uniquely positioned to grow as a global leader in life sciences research and innovation.”