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Bellco Capital Teams For Life Sciences Real Estate Effort

Los Angeles-based Bellco Capital, a new investment firm founded by Drs. Rebecka and Arie Belldegrun, who founded Kite Pharma and Allogene Therapeutics, is in a new effort with real estate developer Tishman Speyer, which combines life sciences support with real estate development. According to the firms, the effort will combine biotechnology entrepreneurship and scientific research experience from Bellco Capital to boost real estate development efforts from Tishman Speyer in a new company, Breakthrough Properties. Breakthrough will acquire, develop and operate life science properties which it says will support innovation across biotechnology, agriculture and nutrition. Breakthrough's first development will be in Boston, at a property with 250,000 square feet of development rights in the Seaport District. Bellco's founders previously founded Kite Pharma (acquired by Gilead Sciences in 2017, for $11.9 billion) and Allogene Therapeutics (IPO in 2018); Belco says it has also made investments in Agensys, ByHeart, Cell Design Labs, Cougar Biotechnology, First Media, Hubble, Kronos Bio, Neogene and UroGen Pharma.