Westchester County Business Journal 080315

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15 | SPECIAL REPORT AUGUST 3, 2015 | VOL. 51, No. 31

YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS

31 | MAKING IT YOUNG westfaironline.com

Rye Brook housing plan moves forward BY EVAN FALLOR evan@westfairinc.com

SOLAR SEA PAGE 2

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he Rye Brook board of trustees recently approved a zoning change and agreed that a full environmental impact study would not be needed for a proposed residential development on vacant land in the Reckson Executive Park. With the village board’s unanimous vote on July 28, the proposal by Buckingham Partners/ Sun Homes to build market-rate and affordable housing units on the approximately 80-acre property moves to the conceptual plan review stage. The developers’ proposal calls for 110 single-family homes to be built on a 3.5-acre site on the office park property owned by Reckson, a division of SL Green Realty Corp. Ten homes would qualify as affordable housing.

Market-rate homes would range from 2,400-square-foot, threebedroom homes; medium-sized homes comparable to a Sun Homes development in Darien, Conn.; and the 3,300-square-foot homes with basements. Sun Homes partner Bill McGuinness said the affordable units will have the same exterior specifications as the market-rate homes. Each will include a private patio in the back. “We would like to have the nicest affordable homes in the country,” he said. “We’re pleased we’re able to do this. “We designed the homes as single-family houses so we could marry them as softly as possible to make for a nice streetscape,” he added. “We want this to have a single-family feel to it.” Because Rye Brook trustees Jason Klein and Susan Epstein » RYE BROOK, page 6

Regeneron markets new drug, launches cancer treatment venture BY JOHN GOLDEN jgolden@westfairinc.com

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egeneron Pharmaceuticals Inc. in Westchester and the French pharmaceutical company Sanofi SA in a fiveday span in late July received approval of a cholesterol-reducing drug for limited use in the U.S. and announced they will jointly invest more than $2 billion in a collaboration to discover and bring new antibody cancer drugs to market. Extending their 6-year-old global collaboration into an emerging field of cancer treatment, immuno-oncology, the two companies will jointly develop a programmed cell death

protein 1, or PD-1, inhibitor and plan to begin clinical trials next year with new drug candidates. Sanofi will make an upfront payment of $640 million to Regeneron, which has grown to be New York’s largest biotechnology company from its headquarters on the Landmark at Eastview campus in Greenburgh and Mount Pleasant. The companies agreed to invest $1 billion for discovery through earlystage studies of immune-oncology antibody candidates used alone or in novel combinations, with Sanofi putting up $750 million and Regeneron contributing $250 million. The companies also committed to funding in equal shares an additional $650 mil-

lion for development of the PD-1 inhibitor now in Regeneron’s drug pipeline. The collaborators also agreed to reallocate $75 million for immune-oncology antibodies from Sanofi’s current annual contribution of $160 million to Regeneron. In addition, Paris-based Sanofi, which works closely with Regeneron scientists from its U.S. headquarters in Bridgewater, N.J., will make a $375 million milestone payment if a PD-1 product and any other collaboration antibodies used in combination with a PD-1 product exceed $2 billion in aggregate sales in any consecutive 12-month period. The companies said they will share » REGENERON, page 6


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