Prelude Therapeutics Cuts Ribbon on New Headquarters

On February 9, 2024, Senator Christopher Coons, Lieutenant Governor Dr. Bethany Hall-Long, Senator Spiros Mantzavinos, State Representative Mike Smith, and other respected dignitaries in the industry and community gathered to celebrate the official opening of Prelude Therapeutics new headquarters and research lab at the Chestnut Run Innovation & Science Park (CRISP) in Wilmington, Delaware.

It was an unusually warm day for February; the morning sun illuminated the building’s rich green glass curtain wall as guests gathered around the building’s main entrance and chattered with excitement. Prelude Therapeutics founder and CEO, Kris Vaddi, began the ceremony by reflecting on Prelude’s journey. “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,” Vaddi remarked. “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 all over the world.”

Founded in 2016 in Wilmington, Delaware, Prelude Therapeutics is a cancer-focused biotech firm specializing in small molecule inhibitors. This targeted cancer therapy aims to minimize the side effects compared to traditional cancer treatments such as chemotherapy or radiation, which has gained international attention. Prelude’s new 101,876-square-foot headquarters will serve as a hub with cutting-edge chemistry labs supplied with instruments for molecular biology research, including offices, conference rooms, and collaborative spaces.

The ribbon-cutting ceremony for Prelude’s new facility signifies the company’s growth and allows them to embark on advancing cancer research, human health, and scientific innovation.

About Chestnut Run Innovation & Science Park

The MRA Group purchased the 164-acre former DuPont campus in December of 2021. Chestnut Run plans to transform it into a multi-tenant campus with a focus on high-tech sciences, with additional plans to add an outdoor amphitheater and a restaurant or food service to complement the campus. Prelude Therapeutics is one of the first biotech companies on the campus. The site is currently 30% leased with other tenants, including DuPont, Solenis, Ducklings Early Learning Center, and a Marriott Residence Inn.

Bancroft Construction served as the project’s construction manager and began construction in the summer of 2022. The project included a renovation to an existing campus building, and project teams worked to install a vapor mitigation system and a new concrete slab. A high-end tenant fit-out was also completed and included separate chemistry and biology wings, executive office suites, boardrooms, and conference spaces.

“This state-of-the-art research facility provides the laboratory space required for its team to continue their honorable fight against the scourge of cancer, and I am thrilled to have played a role in bringing this facility to life. I want to thank my fellow Bancroft Construction colleagues Mark Juditzki, Kelly McKinley, John Panetto, and Lauren Lyon for their perseverance, the dozens of trade partners for their countless hours of hard work and dedication to their craft, and the MRA Group for having the foresight to envision what this campus can become.” Remarked Bancroft Project Manager, Steve Ventresca.

Bancroft Construction is honored to provide Prelude Therapeutics a home where they can continue growing, forming new partnerships, and transforming lives.