Avidity Biosciences Expands Corporate Headquarters Under Amended Sublease with Turning Point Therapeutics

Avidity Biosciences, Inc. has exercised its option to expand its future corporate headquarters by leasing an additional 80,000 square feet under an amended sublease agreement with Turning Point Therapeutics. The new space, secured through a First Amendment to the original April 2024 agreement, brings the total term to approximately nine years and one month, with occupancy payments beginning in April 2026.

The company’s total future financial commitment for the expanded space is approximately $53.7 million, which includes a 3% annual rent increase and agreed-upon rent abatement terms. As part of the agreement, the sublandlord will provide a tenant improvement allowance of up to $19.9 million.