Genitope Selects Fremont Over Hayward as Site for $60 Million Biotech Campus Investment

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). The city of Fremont, California is celebrating its selection by the Genitope Corporation (NASDAQ:GTOP) (Redwood City, California) as the site for its new company headquarters and manufacturing plant. The biotechnology company has entered into a lease arrangement with Peery Arrillaga for two buildings at the Ardenwood Technology Park in Fremont.

Earlier this year, the former Applied Materials campus in Hayward appeared to be the lead contender in Genitope’s site selection process. Instead, the company has decided to sign a fifteen-year deal with Peery Arrillaga in Fremont that will give the company 220,000 square-feet of space, with options to expand as needed in the future. The buildings are expected to start construction as soon as the necessary permits are secured.

This is one of 24 Pharma-Biotech Industry projects totaling close to $1.4 billion scheduled to begin construction in California in 2005. The majority of these projects (17) are planned for the San Francisco Bay area. Click on the image at right to see a breakdown of spending by county.

Genitope’s lead drug candidate is a cancer vaccine that is based on its MyVax Personalized Immunotherapy platform. MyVax is active immunotherapy, which basically uses protein from a patient's tumor to create a vaccine that will activate that person's immune system to attack the cancer, while not harming healthy cells. Pending favorable results of recently completed Phase III clinical trials, the company anticipates FDA approval, allowing a commercial launch of the drug in 2006.

The number of employees employed by the firm is expected grow from its current 130 to over 500. Positions to be added will include manufacturing, research, and sales and marketing staffers.

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