Everyone is looking to attract new companies. And Antares (AMEX:AIS) is looking for a new home.
The drug developer and medical device business has “maxed out” its office space in Ewing, N.J.
But good luck getting the company to move its headquarters far. Paul Wotton, Antares’ CEO said he is keen to keep the company in the region because that’s where his employees live.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
The company currently has two locations — an engineering facility in Minneapolis and a corporate headquarters in Ewing that also houses its clinical and regulatory teams. The lease for its New Jersey office expires in January 2012.
Antares is pursuing a number of collaborations with pharmaceutical companies, particularly with Teva Pharmaceutical Industries, (NASDAQ: TEVA) and sees growing opportunities for its injectables in the area of biosimilars. The centerpiece of its injectables business is its collaboration with Teva in which Antares is providing its VIBEX autoinjector device for Teva’s rheumatoid arthritis drug, Methotrexate. The drug is targeted for launch in 2014.
“We are in a 6,5oo-square-foot office and we’re looking for something in the 8,000-square-feet to 9,000-square-feet range,” Wotton said. “We’re not looking to expand with a huge number of people, but we want to build expansion capacity for a field force to manage Methotrexate in the next two years.”
