Yale University To Expand Medical and Scientific Research Programs With Acquisition of Bayer Complex
New Haven, Conn. — President Richard C. Levin announced that Yale University’s efforts to expand and strengthen its medical and scientific research programs will take a major leap forward with the acquisition of the Bayer HealthCare complex in West Haven and Orange, Connecticut.
The purchase of the facility — which features approximately 550,000 square feet of laboratory space, as well as office buildings, warehouses, and other facilities — will dramatically increase the University’s ability to launch research programs addressing crucial issues affecting human health and quality of life. Financial details of the transaction will be disclosed at the time of closing.
"Yale is already in the midst of a boom in the expansion of its science and medical facilities," said Levin. "The addition of this ready-made, state-of-the-art research space will allow that growth to accelerate at an unprecedented level — potentially making it possible for Yale scientists to develop new discoveries, inventions and cures years earlier. The availability of Bayer’s science laboratories will enable us to undertake research programs that we would not have had space to develop for a decade or more."
"While Bayer is sad to be leaving the site in West Haven and Orange, we are thrilled to be transferring our legacy of innovation to a renowned research institution with which we share a long standing collaborative relationship," said Gunnar Riemann, Member of the Board of Management and President of Pharmaceuticals, Bayer HealthCare AG. "We wish Yale continued success in the expansion of their medical and scientific research programs."
"The heart of the Yale campus will always remain in New Haven," said Levin. "In fact, the University is already committed to building more than 2 million square feet of new facilities in its home city over the next six years. And we are in discussions about the possibility of leasing a significant amount of space in Science Park to help strengthen its role as an incubator for science-based start-up companies."
As part of the acquisition of the Bayer complex, Yale will be making voluntary payments to West Haven and Orange in proportion to the voluntary payment made to New Haven. The municipalities will receive additional PILOT (Payment in Lieu of Taxes) funds from the state in recognition of the property’s future nontaxable academic status.
Yale will also invest $1 million over the next three to four years to enhance and strengthen the professional development of middle and high school science teachers in the Greater New Haven area.
The Bayer HealthCare complex is located on 136 acres in West Haven and Orange. The complex features 17 buildings — all built between 1968 and 2002 — in three categories: research lab space (550,000 square feet), administrative office space (275,000 square feet) and manufacturing and warehouse (600,000 square feet). The oldest of these are the manufacturing facilities, which were built for Miles Laboratories, a former division of Bayer HealthCare. One of the newest buildings is a 125,000-square-foot chemical research facility, used for the development of drugs to treat cancer, diabetes and obesity.
"This significant increase in research facilities comes at an opportune time in Yale’s history," said Levin. "As part of its $1 billion commitment to strengthening science and medical research, Yale has substantially increased its science and medical space since 2003. We’ve opened new chemistry, engineering, environmental and medical buildings, and more are in the planning stages. These major new facilities house departments and interdisciplinary research centers that are changing the course of modern scientific inquiry."
The acquisition of the Bayer complex also adds to the University’s presence in West Haven. For over a century, the University has held 50 acres of property in the city, including Yale Field. Yale also has longstanding research and teaching programs at the VA Connecticut Healthcare System in West Haven.
Yale is currently developing plans for how best to use the facilities at the Bayer complex.
FOR IMMEDIATE RELEASE: June 13, 2007