When George Scangos took the helm at biotech giant Biogen in 2010, he took a look around the company's headquarters in the Weston, Massachusetts, suburb of Boston and thought, "What are we doing out here?"
Last year, the company celebrated the return of its headquarters to Cambridge's Kendall Square, one of the capital cities of the biotechnology industry. The neighborhood's 2.5 square miles are home to 130 life sciences companies, according to industry group Massachusetts Biotechnology Council, the densest concentration on the planet.
"There's so much happening here in Kendall Square," Scangos said in an interview outside Biogen's new headquarters on Binney Street. "MIT is a two-minute walk from where we're standing now, Harvard is down the road, Mass General is a five-minute walk in the other direction. You can't go out to lunch or dinner without seeing people you know from those institutions. The level of excitement and interaction and vibrancy is quite amazing."
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And as biotech has boomed over the last few years—the Nasdaq biotech index has more than tripled in the last three—so has real estate in Kendall Square.