Eli Lilly Opens $700 Million Genetic Medicine Center in Fort Point, Boston

Aug 13, 2024, 01:14 PM

Eli Lilly has inaugurated a new $700 million center for genetic medicine in Fort Point, Boston Seaport. The facility will focus on RNA- and DNA-based drugs and novel treatments for conditions such as diabetes, obesity, heart disease, and chronic pain. Over 200 employees have relocated from Cambridge to the new research and development center, which will also house a biotech incubator for startups. The company plans to hire an additional 300 employees, bringing the total workforce in Boston to 500. Eli Lilly's investment in genetic medicine includes the acquisition of Prevail Therapeutics for approximately $1.5 billion in 2020 and Akouos for $487 million in 2022.