Irvine, CA
Molecular diagnostics company Oncocyte has relocated its headquarters from the San Francisco Bay Area to Orange County. Oncocyte has moved to an office at 15 Cushing in Irvine from its former headquarter location at Alameda in the Bay Area. The firm decided to make the move because of the growth of the Orange County life science market and a desire to grow beyond its Bay Area footprint.
"We are in the early phases of commercialization of our initial products and needed to expand beyond our original footprint in Alameda," Ronnie Andrews, CEO of Oncocyte, tells GlobeSt.com. "As we compared the cost to build out the west coast location of the company in the Bay Area versus SoCal, we found a significant difference in facility costs, housing costs for employees, as well as a much richer population of Molecular Diagnostic lab personnel in Orange County." Jason Lantgen of JLL represented the firm lease transaction.
The firm was also looking for a home base where it could work more directly with patients. "Equally as important as these factors was finding a home where we could engage with patients more directly in the community setting," says Andrews. "Orange County satisfied these needs, with its access to talent, affordability, opportunity for future growth and incredible community treatment centers."
While the Bay Area is a more mature life science market, Orange County is an emerging hub that is continuing to grow and attract attention. "OC is a vibrant, growing community and is becoming a destination county for high tech healthcare. The recent opening of The Leonard Cancer institute in Mission Viejo and The City of Hope Research Centers in Irvine are indicative of the expansion happening right now in Orange County," says Andrews. "We hope to become part of this burgeoning healthcare hub, engage with cancer patients in the community and contribute to bringing some of the most cutting edge clinical trials to the region."
So far, the move hasn't impacted the firm's workforce. Andrews describes employee reaction as "extremely enthusiastic," adding, "almost all mission critical employees plan on relocating."
In its first year following the relocation, Oncocyte plans to take advantage of the momentum. "2020 promises to be a watershed year for Oncocyte. We will launch two commercial products focused on improving the lives of lung cancer patients globally," says Andrews. "We aim to enter into several pharma relationships to provide tests to identify patients for their clinical trials, and we expect to finalize development of our flagship Immune Interrogation technology which may help identify cancer at its earliest stages. We're looking forward to accomplishing these goals and keeping the Orange County community updated on all our progress."
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Kelsi Maree Borland
