InterVenn Biosciences is expanding its reach across South San Francisco. The company, which focuses its work on glycoprotein analysis, has recently leased a 142,000 square-foot research and development building.
According to reporting from the San Francisco Business Times, the biotechnology company has signed a 10-year lease at a new development set to be completed in 2023. The building is owned by Aralon Properties, which was represented by Kidder Matthews’ Joe Cammarata and Greg Domanico during the transaction.
A landing page for the R&D development on Chang Architecture’s website shows that the property will total five stories and include 130,000 square feet of lab space. Each floor of the building is designed to accommodate lab space, supportive lab spaces and administrative and office spaces, according to the architecture firm. The building design also includes a four-story parking structure with space for 265 vehicles.
Once completed, the building will be located near the San Francisco Bay in an area dominated by other biotech companies. Nearby companies include Genentech – which operates out of several buildings in the immediate area – VistaGen Therapeutics, Verily Life Sciences and Pylum Biosciences, among many others.
The new lease signifies a major expansion for InterVenn Biosciences. The company, which was only recently founded in 2017, currently occupies 20,000 square feet at 2 Tower Place. InterVenn will remain at the office and lab property while expanding efforts at the newly leased building.
In addition to the lease, the company is expanding its research efforts through additional funding. In 2021, the company announced the completion of a $201 million Series C financing. The funding round was led by various investors, including SoftBank Group, Heritage Provider Network, Irving Investors, Highside Capital Management, Amplify Partners, Anzu Partners, Genoa Ventures and True Ventures. Proceeds from the funding round are being used to further the company’s research and development of its AI-based glycoproteomics platform.