Three other biopharmaceutical extensions to complete the week

Today, three biotechnology companies, Innocoll Biotherapeutics, Genapsys, and Adicet Bio, announced relocation and expansion plans.

Avison Young, a global commercial real estate company, announcement As Innocoll Biotherapeutics has opened a new office in Princeton, NJ Innocoll is a biotherapeutic pharmaceutical company focused on the development and commercialization of technologies to meet unmet healthcare needs.

The biotech company has entered into a long-term agreement to make the 10,000-square-foot 210 Carnegie Center office its new headquarters in the United States, leaving its old office in Newton Square, Pennsylvania. West Windsor Mayor Hemant Marathe, Innocoll, present at the dedication ceremony. CEO Louis Pascarella and Drew Persson of Avison Young’s New Jersey office.

“Innocoll’s relocation and expansion is a testament not only to the continued growth of the business and the biopharmaceutical industry’s need for its breakthrough products, but also to the value of New Jersey’s local talent pool to occupants. of office space, ”said Persson.

Pascarella believes that having Drew Persson to represent Innocoll in its relocation and expansion is the right thing to do. “Avison Young understood the type of property and location that would match our expansion plans as we continue to grow and seek new business opportunities. Moving to Princeton gives us access to a solid pool of life science talent in a well-equipped property.

Genapsys, a Silicon Valley-based life sciences company, chooses Colorado for expansion. The company plans to open a second site in Westminster with an expanded operation with around 240 new jobs.

Genapsys develops DNA sequencing technologies and systems, providing a highly accurate, scalable and affordable genomic sequencing ecosystem that enables academic and clinical research applications. “This will lead to many advancements in all aspects of health care. Our diagnostic tool is really important in the field of oncology, ”said Jason Myers, CEO of the company. noted.

According to Myers, Westminster is a place of great talent, a great place for business. Genapsys’ office in Redwood City, California has 160 employees and has hired 85 workers in the past 12 months alone. The expansion of Westminster is expected to create 500 and 700 jobs over the next few years.

Speaking of Colorado as an emerging bioscience hub, Governor Jared Polis said in a statement, “Colorado is a rapidly growing bioscience hub, so we are delighted that Genapsys is joining our thriving state and helping to create new ones. well paying jobs as we move to Colorado… cheeky. Our state attracts business, investment and creates jobs because we are the best place in the country to live, work and prosper. ”

In addition, the share of Adicet Bio soared on Monday. The huge payoff for the Menlo Park company came after announcement positive interim results from its Phase I study evaluating the investigational drug ADI-001 for B-cell non-Hodgkin lymphoma. The big move for the biotech stock has jumped 61% since the close last Friday.

In addition, the company is moving to a new 50,305 square foot facility in Redwood City to move forward with new therapy in clinical trials every 12 to 18 months.

He plans to use his huge stock gain to the max by selling 6.25 million shares at $ 14 each, seeking to raise $ 87.5 million on top of the $ 192 million in cash and cash equivalents he has. won last September.

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