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Prelude Therapeutics cuts ribbon on new headquarters

February 9, 2024 |By Katie Tabeling

||| — Prelude Therapeutics cut the ribbon on its new headquarters on Friday morning, signaling the next chapter in the company's growth. | DBT PHOTO BY KATIE TABELING

WILMINGTON — Back in 2016, Prelude Therapeutics was only a dream of Kris Vaddi. He had just left Incyte after 14 years of work, eager to start on something new and inspired by his work on a treatment for a rare bone marrow disorder. “This was an idea, to build a cancer-focused biotech company, rooted

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WILMINGTON — Back in 2016, Prelude Therapeutics was only a dream of Kris Vaddi. He had just left Incyte after 14 years of work, eager to start on something new and inspired by his work on a treatment for a rare bone marrow disorder. “This was an idea, to build a cancer-focused biotech company, rooted in science from the ground up, and discover and develop novel medicines for patients with cancer,” he said. “Seeing the positive impact of Jakafi was an inspiration.” That inspiration brought Vaddi to the steps of Prelude’s new headquarters and research lab at the Chestnut Run Innovation & Science Park. Surrounded by state officials, Prelude staff and other business leaders, Vaddi cut the ribbon on the 101,876 square-foot building. “We started with one discovery program and a handful of scientists to see if we can discover a novel molecule and bring it to clinic. I’m very gratified to see that idea, that bold step has taken us to be a thriving research and development organization,” he said. “With this headquarters, it will help make this idea a reality of bringing much needed medicines to patients with cancer, not just in Delaware, but like all over the world.” [caption id="attachment_235756" align="alignleft" width="300"]

Prelude Therapeutics CEO Kris Vaddi speaks about his inspiration to laucnh a cancer-focused biotech company, rooted in science from the ground up. | DBT PHOTO BY KATIE TABELING[/caption] Prelude Therapeutics has broken through and drawn international attention for its work on small molecule inhibitors, a developing therapy that is more targeted in approach with fewer side effects than traditional cancer therapies like chemotherapy or radiation. The company first got its start at incubator space at the University of Delaware STAR Campus and later on at the DuPont Experimental Station off Powder Mill Road in Alapocas. With the new headquarters and 57,074 square feet of lab space, Prelude is entering a new chapter of its story. “This is really a testament to Kris as a leader as well as life sciences in Delaware,” Innovation Space CEO Bill Provine told the Delaware Business Times. “Our mission is to keep the pipeline of companies like Prelude flowing, and we have these great companies all racing to cure cancer.” Prelude’s headquarters is equipped with state-of-the-art chemistry labs equipped with instruments to handle the research the company is handling with molecular biology. But there are also pockets of conference rooms and collaborative space. “That’s the new business model, you don’t do everything in one spot,” Vaddi said. “As we grow our network with biopharma companies and scientists, this building gives us a place to call home as well as an identity as a company.” Looking ahead, Prelude is moving multiple drugs to clinical trials, with the next stop as registrational trials to demonstrate benefit for patients. Four months ago, Prelude signed its first partnership agreement with a major Canadian drug development firm, AbCellera. That collaboration brings AbCellera’s antibody discovery and development engine to generate new precision antibody drug conjugates, or targeted medicines that can deliver drugs to cancer cells without damaging healthy cells. Prelude Therapeutics’ ribbon cutting also serves as a milestone for the Chestnut Run Innovation & Science Park. The 164-acre former DuPont campus roughly five miles west of downtown Wilmington has been planned to be transformed into a multi-tenant campus focused on high-tech sciences. The MRA Group has planned to invest about $500 million in the site. As of today, the site is about 30% leased, with tenants including DuPont, the specialty chemicals company Solenis, Ducklings Early Learning Center and a Marriott Residence Inn. MRA Group President Mike Wojewodka called Prelude’s official opening the “rebirth of the campus.” He added that the firm was looking at adding an outdoor amphitheater and either a restaurant or food service to compliment the campus. “I think that’s a beautiful part of the plan because it helps with retention of employees, especially in this post-COVID world,” Wojewodka said. “There’s tenants that have to be at the office for their work here, so we want to make it welcoming for them - as well as making it so people actually want to come back to the office.”