Friday, January 08, 2016
Veracyte, Inc., a molecular diagnostics company pioneering the field of molecular cytology, today announced that the company is relocating to expanded laboratory and corporate space within South San Francisco. The new space more than doubles the space Veracyte currently occupies, in order to accommodate the company's strong growth as it offers genomic tests designed to improve disease diagnosis, thus helping patients avoid unnecessary surgeries and taking costs out of the healthcare system.
"This expansion is a direct reflection of Veracyte's success in executing against our business goals," said Bonnie Anderson, Veracyte's president and chief executive officer. "Test volume for our lead product, the Afirma® Gene Expression Classifier, increased significantly in 2015, as a result of multiple factors, including expanded reimbursement and inclusion in key industry guidelines. Additionally, we successfully launched the Percepta™ Bronchial Genomic Classifier last April, and we plan to introduce a second pulmonology product later this year. This significant product growth and expansion has increased our need for additional lab space and employees, while further validating our core mission."
Veracyte has secured at 10-year lease to occupy space on the three floors of 6000 Shoreline Court in the Sierra Point area of South San Francisco. This space will accommodate new, state-of-the art R&D and CLIA laboratories, as well as offices for the approximately 120 employees based in the company's corporate location. To accommodate future growth, the company also secured expansion rights, enabling it to procure additional square footage in the same building during 2017 and 2019 as needed.
investor.veracyte.com
