Ipsen, a French pharmaceutical company that had about $1.62 billion in sales last year, said it plans to relocate its US research-and-development operations from Milford to Cambridge by the third quarter of 2014.
Ipsen added that it has signed an 11-year lease for 62,600 rentable square-feet of laboratory and office space within the 282,000 square-foot building located at 650 East Kendall St.
Currently, Ipsen has about 90 employees working in about 43,000 square feet of space in Milford.
The deal to lease space in Cambridge was brokered by Cresa Corporate Real Estate, and the property is owned by BioMed Realty Trust Inc., Ipsen said.
“Relocation to Cambridge represents a major leap forward for Ipsen’s R&D activities,” Claude Bertrand, the company’s executive vice president and chief scientific officer, said in a statement.
The move brings Ipsen closer to several key partners based in the Cambridge area, including prominent hospital centers, medical schools, biotech companies, and universities; the move will further promote and facilitate “partnerships and open innovation,” the company said in its press release.
Cynthia Sylvestre, who heads up Ipsen’s operations in Milford, said that Ipsen’s research focuses on peptide and toxin platforms. One niche area that the company specializes in is uro-oncology.