Cancer Therapy Manufacturer Moving HQ From Cambridge To Andover
Oncorus Inc., a company developing viral immunotherapies for cancer patients, plans to shift its headquarters from the life sciences industry's East Cambridge epicenter to a suburb 25 miles north of Boston.
The headquarters will be on the same property as its new manufacturing facility, where it plans to have 41K SF of good manufacturing practices-compliant space, it said in the filing. The company announced in January 2021 that it signed a 15-year lease to build a new GMP facility in Andover.
The facility is part of IQHQ's Innovation Park complex, the Boston Business Journal reported in January 2021, but at that time, the company had planned to retain its headquarters in Cambridge. Oncorus' Cambridge space is located at 50 Hampshire St., a building owned by BioMed Realty.
Oncorus is funding the headquarters relocation and the completion of the manufacturing facility in part through a new debt financing agreement it reached with K2 HealthVentures that will provide it with up to $45M, it announced Tuesday.
“The move to our Andover facility marks a significant turning point for Oncorus as we continue to work towards becoming a fully integrated leader in viral immunotherapies for cancer and LNP technologies,” Oncorus Chief Operating Officer Stephen W. Harbin said in a statement.
“By bringing our research, process development and GMP manufacturing teams to the same facility, we believe that we will be better positioned for rapid success while also providing an opportunity for strong collaboration and efficiency as we collectively work to achieve our milestones."