AdvanCell Signs 128,000-SF Full-Building Lease at IQHQ's Innovation Park in Andover, Massachusetts

ANDOVER, Mass. — Clinical-stage radiopharmaceutical company AdvanCell has signed a long-term lease for approximately 128,000 square feet at 1 Corporate Drive, the full Phase 2 building at IQHQ's Innovation Park life science and advanced manufacturing campus in Andover, Massachusetts, IQHQ announced June 22, 2026.

The transaction is described by IQHQ as one of the largest life science leases in Greater Boston this year and brings the newly constructed Phase 2 of Innovation Park to 100% leased. Financial terms of the lease, including base rent, lease term length, and tenant improvement allowances, were not disclosed.

Deal Details and Campus Overview

Innovation Park totals approximately 340,000 square feet of life science and advanced manufacturing space in Andover. AdvanCell's lease covers the entire 1 Corporate Drive building, which will serve as the company's global headquarters and first U.S. manufacturing site. The facility is expected to support AdvanCell's late-stage clinical development and the scaling of its proprietary Lead-212 manufacturing capabilities for Phase 3 and future commercial production.

AdvanCell joins Generate Biomedicines, Inc. (NASDAQ: GENB) — a Flagship Pioneering spinout that completed an approximately $400 million initial public offering in February 2026 — as a tenant on the Innovation Park campus.

IQHQ noted that one remaining availability of approximately 137,000 square feet exists at 4 Corporate Drive on the campus. That space is described as 100% completed turnkey cGMP space comprising fully facilitized Grade B, C, and D cleanrooms, lab, office, warehouse, and support areas for an integrated life science manufacturing operation.

Location and Infrastructure

Innovation Park is situated within what IQHQ describes as an established and growing life science manufacturing corridor, drawing talent from Greater Boston and Southern New Hampshire. Andover holds MassBio's Platinum BioReady designation, the highest of MassBio's four-tier rating system, signaling a municipality with infrastructure favorable to life science manufacturing uses.

The campus offers amenities including a full-service café and coffee bar, a fitness center with locker rooms, communal conferencing space, EV charging, bike storage, and 24/7 facility management and security.

AdvanCell's Manufacturing Requirements and Site Selection

AdvanCell is developing targeted alpha therapies for cancer patients, with its lead clinical candidate, ²¹²Pb-ADVC001 (ADVC001), a PSMA-targeted alpha therapy being evaluated for prostate cancer — a disease that accounts for approximately 300,000 new diagnoses and 35,000 deaths in the United States each year. The company leverages a proprietary Lead-212 platform and describes itself as vertically integrated across manufacturing and clinical development.

AdvanCell cited the campus's purpose-built infrastructure suited for advanced therapeutic manufacturing as a factor in its site selection following what IQHQ described as a broad search and competitive process.

"Innovation Park is the ideal setting for our global headquarters and first manufacturing site in the U.S. — a well-located, best-in-class campus suited for cGMP manufacturing and owned by a landlord who understands advanced therapeutic manufacturing," said Dayle Hogg, Chief Operating Officer of AdvanCell. "This site will be foundational to AdvanCell's next stage of growth, enabling us to scale our proprietary Lead-212 targeted alpha therapy manufacturing for Phase 3 and future commercial production. We appreciate IQHQ's partnership and the city of Andover's support."

IQHQ's Portfolio and Strategy

IQHQ owns and develops purpose-built life science and advanced technology real estate in Boston, San Francisco, San Diego, and the Golden Triangle in the United Kingdom.

"IQHQ is pleased to welcome AdvanCell to Innovation Park, and we look forward to being in business together long term," said TJ Silvey, Chief Investment Officer of IQHQ. "AdvanCell's leadership team brings deep experience in radioligand therapy and a proven track record of building successful commercial-scale companies and delivering approved therapies to patients. IQHQ's mission is to support companies like AdvanCell with capital and space to move their science forward, and we are proud to be their partner."

With Phase 2 now fully leased, IQHQ is marketing the remaining 137,000-square-foot availability at 4 Corporate Drive as turnkey cGMP space that requires no upfront capital for improvements.

The lease was announced June 22, 2026. Additional terms were not disclosed.

Sources

IQHQ — AdvanCell Signs 128,000-Square-Foot Full-Building Lease (June 22, 2026)