The startup cancer biotech company, ImmuneXcite, recently announced that it will soon exit Lexington. ImmuneXcite will move to the Waltham office market at some point in the near future. Company representatives have stated that the move will occur before the company conducts its clinical trials in 2018. According to numerous reports, ImmuneXcite will settle into its new digs at some point in the summer of 2016.
ImmuneXcite is best characterized as an immuno-oncology startup. The company has attracted investors like Partners Innovation Fund, Sanofi-Genzyme Bio Ventures and Cormorant Asset Management. All in all, the company is backed by over eight and a half million dollars worth of Series A-1 financing.
ImmuneXcite will move to the Waltham office market’s brand new lab space located at 266 Second Ave. The company will occupy the structure’s second floor. It spans over 10,300 square feet. This building is currently being redeveloped by Griffith Properties, a local real estate investment firm, and Rockwood Capital, an investment management firm.
The local biotech laboratory market is currently at record lows in terms of available working spaces. According to Transwestern | RBJ, the Waltham office market had just under 100,000 square feet of lab space at the end of 2016’s first quarter. The vacancy rate is a mere 5.4 percent. This marks the first time that the city’s vacancy rate has reached the single digits.
ImmuneXcite’s new lab facility in the Waltham office market represents one component of a two-building corporate campus that spans over 95,000 square feet. Other corporate tenants at the campus include the DNA analysis firm, NetBio. ImmuneXcite executives have stated that the company’s motivation to move to the Waltham office market is strategic in nature. The company will convert the 266 Second Ave. location into a space for full laboratory use. ImmuneXcite executives have also pointed to the Waltham office market’s suburban location and close proximity to the city as critical factors in the decision to relocate. This attractive new location will undoubtedly help in the company’s push to attract prospective employees, business partners and clients.
If you would like more information regarding office buildings available in the greater Boston market, contact Jeremy Cyrier at email@example.com or by phone at 617-674-2043.