(HOUSTON) – Hines, the global real estate investment manager, in partnership with 2ML Real Estate Interests and Harrison Street, today announced the next lease at Levit Green, the 53-acre mixed-use life sciences-centric district adjacent to the Texas Medical Center in Houston, Texas. PranaX, a pioneering company in regenerative science, has leased a 7,400-square-foot, turn-key lab space on the second floor of Levit Green's Phase I building. PranaX will be moving into its new space this week, showcasing the truly move-in-ready nature of the space.
"PranaX’s groundbreaking work represents exactly the kind of innovation and collaboration that Levit Green was designed to foster,” said John Mooz, senior managing director at Hines. “We recognized the need in the market to provide immediate, state-of-the-art research facilities and look forward to supporting PranaX in their mission to manufacture regenerative therapies."
PranaX is an emerging biotechnology company dedicated to harnessing exosomes to rejuvenate aging, inflamed, and damaged tissues and organs. The company’s goal is to unlock the regenerative properties of exosomes to enhance quality of life, contributing to healthier, more fulfilling lives. PranaX has entered into a technology licensing agreement with The University of Texas MD Anderson Cancer Center and aims to utilize this technology to commercialize exosomes as therapeutics, natural supplements and wellness products that can promote healthy aging. The company’s research and development and manufacturing operations will be headquartered in Houston, within Levit Green.
“We are incredibly excited to establish our research and commercial operations within the world-class facility built by Hines at Levit Green, said Steven J. Greco, PhD, Founder and Chief Operating Officer of PranaX. “This is an amazing opportunity to retain technology developed locally and expand upon it within the Houston biotech ecosystem.”
In collaboration with Hines, PranaX is now building a ISO-7 clean room that meets FDA standards. This clean room will be instrumental in manufacturing approved therapies for patients at their offsite clinic, further enhancing the suite's capabilities to support cutting-edge research and development. Additionally, PranaX will utilize the suite to offer exosome banking services, an innovative approach to support wound healing and initiate cell growth and development. This service aligns with the growing interest in personalized medicine and the potential for clinical breakthroughs in the treatment of serious medical conditions.
Dr. Stan Watowich, the founder and CEO of nearby Ridgeline Therapeutics, commented on Levit Green’s transformative potential at a recent Greater Houston Partnership event, saying, “I view Levit Green as Houston's newest cathedral for biomedical innovation, a destination where visionary biotech companies will receive inspiration, collaboration and support as they continue their quest to bring life-changing healthcare technologies to patients.”
Completed in 2023, Levit Green’s first phase is a state-of-the-art lab, biomanufacturing facility designed with flexibility in mind to meet the evolving needs of the life sciences industry. The 290,000-square-foot, five-story building is part of the broader nine-building Levit Green masterplan, which will offer a curated mix of research and production facilities, office, retail, residential, and outdoor amenities. The building has two turnkey laboratory suites, each approximately 11,000 square feet, available for immediate occupancy and leasing. These suites come fully equipped with lab benching, casework, and furniture, offering a ready-to-use space for scientific research. Additionally, the building features 25,000 square feet of dedicated lab incubator space, designed to support entrepreneurs and early-stage life science companies. This space not only provides top-tier laboratory and office facilities in a strategic location but also fosters networking opportunities for burgeoning businesses in the life sciences sector.
For more information visit www.LevitGreen.com.
About Hines
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage a $93.2B¹ portfolio of high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 857 properties totaling over 270 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization as well as RIA AUM as of December 31, 2023.
