New York City developer launches life-science venture

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A New York City developer known for Projects serving technology companies Space is doubling for biotechnology laboratories and other life-sciences uses at a time when biotech is being stockpiled Worried about rising interest rates and capital market turmoil.

Taconic Partners, one of New York’s largest private owners and managers of lab spaces serving pharmaceutical and biotech companies, is consolidating its life-sciences portfolio into a new subsidiary called Elevate Research Properties. Elevate will control three life-sciences laboratories currently developed by Taconic.