Compugen Announces Planned Relocation of Headquarters to Larger Facilities
March 19 2015 - 7:09AM
Business Wire
New facilities double available space for
corporate offices and research and discovery in Israel
Compugen Ltd. (NASDAQ: CGEN), a leading predictive drug
discovery company, today announced the planned relocation by
year-end of its Tel-Aviv headquarters, along with its Israeli
research and discovery operations, to substantially larger
facilities. The new facilities, now being prepared according to
Compugen’s specifications, will support the ongoing growth of the
Company and the further advancement of its novel immune checkpoint
programs for cancer immunotherapy. The new facilities will be
located in the Azrieli Holon Business Center about 12 miles south
of Compugen’s current location and will double the available space
for the Company’s corporate offices and labs.
This planned expansion follows last year’s relocation of the
Company’s wholly-owned US subsidiary, which is focused on the
development of antibody therapeutics against the Company’s novel
drug targets, to a larger facility in South San Francisco.
Dr. Cohen-Dayag, President and CEO of Compugen, stated, “These
larger and enhanced facilities in both Israel and the US are
essential for us as we continue to advance a number of our
early-stage immuno-oncology novel therapeutic programs, while, at
the same time, continuing to enhance and extend our unique, broadly
applicable, predictive discovery infrastructure.”
About Compugen
Compugen is a leading predictive drug discovery company focused
on monoclonal antibodies and therapeutic proteins to address
important unmet needs in the fields of oncology and
immunology. The Company utilizes a broad and continuously
growing integrated infrastructure of proprietary scientific
understandings and predictive platforms, algorithms, machine
learning systems and other computational biology capabilities for
the in silico (by computer) prediction and selection of
novel drug target candidates, which are then advanced in its
Pipeline Program. The discovery and development of monoclonal
antibody therapeutic candidates against selected
Compugen-discovered novel target candidates is performed by
Compugen’s wholly-owned US subsidiary located in South San
Francisco. The Company's business model includes collaborations
covering the further development and commercialization of product
candidates at various stages from its Pipeline Program and various
forms of research and discovery agreements, in both cases providing
Compugen with potential milestone payments and royalties on product
sales or other forms of revenue sharing. For additional
information, please visit Compugen's corporate website at
www.cgen.com.
Forward Looking Statement
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements can be identified by the use of
terminology such as “will,” “may,” “expects,” “anticipates,”
“believes,” and “intends,” and describe opinions about future
events and include statements related to the relocation by year-end
of Compugen’s Tel-Aviv headquarters, along with its research and
discovery operations, to Holon, Israel. These forward-looking
statements involve known and unknown risks and uncertainties that
may cause the actual results, performance or achievements of
Compugen to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Some of these and other factors are
discussed in the "Risk Factors" section of Compugen’s most recent
Annual Report on Form 20-F as filed with the Securities and
Exchange Commission as well as other documents that may be
subsequently filed by Compugen from time to time with the
Securities and Exchange Commission. In addition, any
forward-looking statements represent Compugen’s views only as of
the date of this release and should not be relied upon as
representing its views as of any subsequent date. Compugen does not
assume any obligation to update any forward-looking statements
unless required by law.
Compugen Ltd.Tsipi Haitovsky, +972-52-598-9892Global Media
Liaisontsipih@cgen.com
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