Ionis Pharmaceuticals, Inc. announced that it has entered into an agreement with Sudberry Properties to develop and lease a new development chemistry and manufacturing site in Oceanside, Calif. Sudberry will develop and construct the shell for the approximately 217,000-square-foot building. Ionis will design and construct improvements to customize the facility.

Under the terms of the agreement, Ionis will lease the property for 20 years, with two 10-year options to renew and a right of first offer to purchase the property. The new facility will include advanced sustainability and environmental protection features such as generating 50% of its power from solar panels and renewable offset, increased automation to reduce manual material handling, emissions controls and spill containment for all production areas. Ionis expects to occupy the new facility in 2025, with active pharmaceutical ingredient ("API") manufacturing beginning in mid-2026.

At approximately 217,000 square feet, the new facility will be more than double the size of Ionis' existing development chemistry and manufacturing facility, which is in Carlsbad.