San Francisco Business Times' Ron Leuty covered an important move for biopharmaceutical company Exelixis. "The longtime cancer drug developer signed a 10-year lease for 110,783 square feet in two buildings in the 20-year-old Waterfront complex in Alameda. It has a right to grab an additional 170,000 square feet as it becomes available," Leuty wrote.
CEO Michael Morrissey discussed his approach to the decision: "Every dollar counts. We can put more money into trials, more money into compounds, more money into technology than paying rent." He elaborated that the extra money can also go to making the company a better place for employees, attracting the best and brightest in the drug discovery game in order to achieve even greater results.
For more from Leuty on what this move means for both Exelixis and the South San Francisco biotech community at large, read the full article here.