Lexington Vaccine Company To Move To Waltham

WALTHAM, MA — A Lexington-based vaccine company is set to lease a large space in Waltham, according to Boston Properties.

Translate Bio, which has developed an experimental coronavirus vaccine, will lease 138,000 square feet at Boston Properties' 200 West St.

The company develops medicines to treat diseases caused by protein or gene dysfunction and its lead program is being developed as treatment for cystic fibrosis.

It’s good news for Waltham as Raytheon, which has its headquarters in the city, recently announced a worldwide downsizing.

Commercial vacancies reduce the city's revenue streams, and affect values of the commercial office space. Conversely, new biotech businesses coming to town can mean an increase in revenue for the city.

"It's a good thing that where Waltham is located is the high tech area, the Cambridge Boston area is great for high tech, so we get our share of it," Waltham Assessor Frank Craig said. "And because there is that inability to do it from home it helps with our commercial base."

Boston Properties is working to convert the 256,000-square-foot building on West Street into a biotech building with lab space by next year. And, according to a news release, with Translate's 10 year lease, the building is full now.

"Their move to Waltham will facilitate the recruitment and retention of the best and brightest talent in this growing hub for life science," said David Provost, of Boston Properties in a statement.

Jenna Fisher is a news reporter for Patch. Got a tip? She can be reached at Jenna.Fisher@patch.com or by calling 617-942-0474. Follow her on Twitter and Instagram (@ReporterJenna). Have a something you'd like posted on the Patch? Here's how.