Baltimore Business Journal -- A Gaithersburg biotech that is developing treatments for everything from eye ailments to foot-and-mouth disease is on the hunt for new space.
GenVec Inc., a 120-person cancer treatment and vaccine developer, is searching the region for a new headquarters, upward of 60,000 square feet, to prepare for future growth. It could also renew at its 45,000-square-foot facility in Montgomery County, filling out the building’s remaining warehouse space.
GenVec is entering a stage of drug development that most biotechs aspire to from their earliest lab-bench days. It is recruiting patients for the third and most expensive phase of clinical trials for its lead product, a treatment for pancreatic cancer, and is looking toward commercializing the drug.
The 16-year-old company expects to move quickly in its headquarters search. According to its latest annual report, its lease for its current building expires in November 2009. Richard M. Rhodes, managing principal for CresaPartners LLC, a real estate firm representing GenVec, said the company is still narrowing down locations to pursue.
“We’re evaluating all of the possibilities for them right now,” he said.
