By Hannah Green
A Framingham-based biotech is relocating its headquarters to a new space closer to the center of Massachusetts’ biotech industry.
BPGbio announced on Wednesday it was moving into 70,000 square feet of lab and office space at 300 Third Avenue in Waltham. The biotech company plans to move into two full floors of the new space around June 2025.
“The move to the vibrant culture and biotech talent pool in and around Waltham positions BPGbio onto a successful growth trajectory to serve patients. Our employees are excited with the additional space which enables BPGbio to accelerate development of therapeutics and diagnostics in our pipeline,” Niven Narain, CEO of BPGbio, said in a statement.
Dallas-based Lincoln Property Co., a privately-held commercial real estate developer and manager, began work on the nearly 144,000 square-foot life science building back in 2020. The property is co-owned by a MetLife Investment Management client.
The building at 300 Third Avenue is located on Route 128 and has four floors and 441 on-site parking spaces. Its amenities include a roof deck, fitness center, grab & go café, and free shuttle to the Alewife MBTA station.
Lincoln said the building is nearly fully leased and it is marketing the last remaining floor.
BPGbio is joining another biotech company, Biocytogen, in the building. Last August Biocytogen announced its move into a 37,000-square-foot space at 300 Third Avenue. Biocytogen has developed a platform for antibody drug discovery and validation, including animal model generation and in vivo/in vitro preclinical validation studies.
The latest version of BPGbio was formed last February when Framingham bioanalytics firm Berg Health LLC was acquired by BPGbio, a new company funded by a group of investors led by private equity manager Daniel Elliott.
Berg CEO Narain became BPGbio’s CEO. Narain said the acquisition served largely as a funding mechanism and that, as of last year, the company was preparing for an IPO or strategic M&A in the next three years.
BPGbio is using AI algorithms to model patient biology, which it says can accelerate and de-risk the process of drug discovery. The company has drug candidates being studied for glioblastoma multiforme in active Phase 2b trials and recently completed a Phase 2a trial in pancreatic cancer, among other disease areas it is working in.